Global Corrugated Packaging Market is estimated to be valued at US$ 283.1 Bn Million in 2021, according to the Corrugated Packaging Market Report, by Board Type (Single Face, Single Wall, Double Wall, and Triple Wall), by Product Type (Boxes, Crates, Octabins, Pallets, and Others), by End Use (Electronics and Electrical, Home Care Products, Food & Beverages, Personal Care Products, Transportation & Logistics, Healthcare, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by Coherent Market Insights.
Global corrugated packaging market is expected to reach US$ 400.5 Bn by 2030, exhibiting a CAGR of 4.0% over the forecast period (2022-2030). Rising demand for corrugated packaging from e-commerce sector is expected to drive growth of the corrugated packaging market during the forecast period. Transport & logistics packaging plays an important role in protecting goods & products during transit to their destination, which can be consumer’s doorstep, retail store, office or a manufacturing site.
COVID-19 impacted the corrugated packaging market globally as demand of the finished products had gone down which resulted in lower demand of the corrugated packaging. All the regions had to take the strict action towards the increasing count of the coronavirus cases which led to lockdowns in several regions. Hence, resulting into less demand of the consumer goods, and raw materials, which resulted into the loss to the corrugated packaging manufacturers during the pandemic situations.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/corrugated-packaging-market-3349
Browse 64 market data tables* and 39 figures* on "Corrugated Packaging Market” - Forecast to 2030.
Key Trends and Analysis of the Corrugated Packaging Market:
- Packaging designers and manufacturers depend on industry standards and guidelines to ensure that corrugated packaging is manufactured to fit specific distribution needs. The geographic factors help packaging designers and engineers to determine how robust a package needs to be for the actual weight it must carry in the environmental condition where it will be handled and stored. This information is critical for forming standard safety factors for corrugated packaging, which needs to withstand loads in the environments it will be exposed to, such as warehouse and distribution conditions.
Key Takeaways of the Corrugated Packaging Market:
- Among board style, single wall (also called as a double face corrugated) segment accounted for the largest share of around 42.0%, in terms of revenue in 2020 in the global corrugated packaging market, owing to ease of manufacturing in corrugated packaging market.
- Among product type, boxes segment held a dominant position in the global corrugated packaging market in 2021 and is expected to maintain its dominance over the forecast period. This is owing to product’s fit-to-product capability and robust nature.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities for the corrugated packaging industry are key strategies adopted by players in the corrugated packaging market. Among end use, electronics & electrical segment is expected to exhibit highest CAGR during the forecast period. However, transportation & logistics segment is expected to hold dominant position in the corrugated packaging market during the forecast period, owing to rising need for transporting products from one place to another, majorly catered by B2B e-commerce sales.
