Corrugated Packaging Market Size, Share, Trends, Growth, Regional Outlook And Demand by 2023

Global corrugated packaging market is projected to reach $294.3 billion by 2023. The market growth is driven by the increasing demand of cost-effective and environment-friendly packaging materials from various end use industries.

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On the basis of application, the corrugated packaging market is categorized into processed food, personal and household care, beverages, electrical and electronics goods, chemicals, glassware and ceramics, fresh food and produce, paper products, tobacco, and wood and timber products, textiles, direct mail and dispatch, transport, and others. Others include footwear and furniture.

The market is expected to witness the fastest growth from personal and household care application, witnessing a CAGR of 4.3% during the forecast period. The demand for personal and household care has seen immense growth over the past few years owing to high demand for cosmetics and personal care products. This is driving the use of corrugated packaging widely in cosmetics, personal care product, and home furnishing packaging.

The corrugated packaging market in Asia-Pacific (APAC) is expected to register a CAGR of 5.0% during the forecast period. The market growth in the region is mainly driven by the growing demand for packaging materials from the processed food industry of countries such as China and India. China is the largest market for corrugated packing in the region, while Japan is the second largest market.

Additionally, the boom in the processed food industry is expected to contribute to the corrugated packaging market growth. The packaging of processed food requires secure and flexible packaging solutions, to ensure product safety and convenience to customers.

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Some of the major players operating in the global corrugated packaging market are Nine Dragons Paper (Holdings) Limited, International Paper Company, WestRock Company, Smurfit Kappa Group, Georgia-Pacific Equity Holdings LLC, Lee & Man Paper Manufacturing Ltd., Oji Holdings Corporation, Mondi Group, Packaging Corporation of America, and DS Smith PLC.

GLOBAL CORRUGATED PACKAGING MARKET SEGMENTATION

By Application

• Processed Food
• Fresh Food and Produce
• Beverages
• Personal and Household Care
• Chemicals
• Paper Products
• Electrical and Electronics Goods
• Glassware and Ceramics
• Tobacco
• Wood & Timber Products
• Textiles
• Direct Mail & Dispatch
• Transport
• Others

By Geography

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of APAC
• Rest of the World (RoW)
  • Brazil
  • Saudi Arabia
  • South Africa
  • Others

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