The global corrugated packaging market was valued at US$ 273.7 Mn in 2018, according to Global 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.
The global corrugated packaging market is expected to reach US$ 357.6 Mn by 2027, exhibiting a CAGR of 3.4% over the forecast period (2019-2027). 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. Corrugated packaging has long been a major packaging choice in supply-chains, highly preferred by manufacturers, shippers and retailers, owing to its lightweight and low cost with high-performance product protection and dependable strength-to-weight ratios. Moreover, e-tailers and retailers are continuously focusing on improving their delivery performance. Corrugated packaging provides them an optimum solution to provide their customers with a great shopping experience. The major advantage of corrugated packaging is the array of customization it offers. All the corrugated boxes are engineered to specifically fit its content and optimized to generate minimum waste and maximum output. The high strength to weight ratio reduces the risk of damage during transit and reduces wasted space during loading, hence reducing shipping cost. To fulfil supply chain requirement, expectations regarding robust packaging are continuously change, corrugated packaging keeps momentum with technical improvements and excellent product protection during transit. Increasing use of corrugated packaging in supply chain management is expected to drive growth of the global corrugated packaging market during the forecast period.
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.
Due to its indispensable performance characteristics, transportation advantages, and low cost, corrugated packaging is one of the most sought after sustainable packaging. It is made from renewable resources and recycled materials. Also, around 96% of corrugated packaging can be recovered during recycling. These factors are expected to increase demand for corrugated packaging during the forecast period.
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