Selbyville, Delaware, Dec. 05, 2022 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the global Corrugated Packaging Market was estimated at USD 70 billion in 2022 and is expected to surpass a valuation of $100 billion by 2032, progressing at a CAGR of 4% from 2023 to 2032. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size, statistics & estimations, and major investment pockets.
Robust demand for healthcare services during the COVID-19 outbreak is a major reason driving the use of cardboard box packaging for over-the-counter medications and devices. In times of global uncertainty and lockdowns, this sustainable healthcare packaging solution also made it possible to deliver life-saving medical equipment globally. With the growing burden of lifestyle diseases and investments in healthcare research, the reliance on corrugated shipping solutions will increase, as manufacturers strive to address the need for temperature-sensitive medications and other supplies.
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Folding boxboard corrugated packaging emerges as a key alternative to plastic packaging
Corrugated packaging market share from the folding boxboard product segment is set to depict over 3.5% CAGR through 2032, owing to its lightweight nature. This packaging material typically has three layers or more. Advanced technologies enable mills to use lighter pulps in the middle layer of boxboards, resulting in an overall reduction of the product’s weight. As per the report, folding cartons have also emerged as a viable replacement for plastic products, further promoting the use of these corrugated packaging solutions.
Key reasons for Corrugated Packaging Market growth:
- Rising product consumption in the food & beverages industry.
- Strong folding boxboard demand for the thriving healthcare sector.
- Surging electronics production.
Durability & high resolution to drive corrugated packaging production via lithography printing
Corrugated packaging Industry share from the lithography printing technique is expected to reach over USD 36 billion by 2032. This is a result of the increasing dependence of manufacturers on high-quality printed packaging to gain customer attention and a competitive edge for businesses. Litho-laminated packaging can offer exceptional detail, bright colors, a high level of definition, and accurate reproduction of photographic imagery. Other attributes including durability, waterproofing, and scratch resistance will also amplify the use of lithography printing in the production of corrugated boxes.
Moisture-resistant features to promote corrugated packaging use in food & beverage shipments
Corrugated packaging market from food & beverages end-use segment will be valued at over USD 45 billion by 2032. These boxes are gaining traction as a preferred packaging to protect food products against moisture during long shipments. Due to favorable features such as sustainability, these packaging products are also used extensively in retail packaging, consumer goods, food delivery boxes, and other applications. The report cites that the ability to minimize food spoilage, customization, durability, and other characteristics will thus bolster product consumption in food and beverage applications.
Rise in online sales to escalate corrugated package consumption in Europe
Europe corrugated packaging market is poised to depict over 3% CAGR through 2023-2032, on account of the rise of e-commerce. Based on the Ecommerce Europe and EuroCommerce report, in 2021, online sales grew by 13% in the region. This factor, alongside the mounting demand for personal care and home care products, will boost the consumption of corrugated packaging boxes. Moreover, government bodies have introduced strict environmental norms in the region, thus promoting the use of recyclable corrugated packaging materials over conventional plastic-based products.
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Product portfolio expansion strategies to strengthen the industry landscape
Some of the prominent players profiled in the corrugated packaging market include Packaging Corporation of America (PCA), Mondi Group, DS Smith, S.A. de C.V. (CESCO), Celulosa y Corrugados de Sonora, Smurfit Kappa Group, Rengo Co., Ltd., Evergreen Packaging LLC, and Montebello Container Company LLC, among others. These companies are focusing on product range expansions and other developments to boost their presence in the industry.
Partial chapters of report table of contents (TOC):
Chapter 5: Corrugated Packaging Market, By Product
5.1 Market product insights
5.2 Corrugated boxboard
5.3 Folding boxboard
Chapter 6: By Printing Technique
6.1 Market printing technique insights
6.2 Lithography
6.3 Flexography
6.4 Digital
6.5 Others
Chapter 7: By Industry
7.1 Market industry insights
7.2 Food & beverages
7.3 Personal care & homecare
7.4 Medical
7.5 Home appliances
7.6 Other FMCG
7.8 Industrial
7.9 Chemical & plastics
7.10 Paper & Carton
7.11 Others
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
