June 4, 2024

Corrugated Boxes Market Size to Rise USD 92.30 Bn by 2033

The global corrugated boxes market size reached USD 68.35 billion in 2023 and is predicted to rise around USD 92.30 billion by 2033, growing at a CAGR of 3.05% from 2024 to 2033.

Key Points

  • Asia Pacific dominated the market with the largest revenue share of 38% in 2023.
  • North America is expected to experience significant expansion in the global market over the projected period.
  • By technology, the flexography printing segment has held the major revenue share of 26% in 2023.
  • By technology, the digital printing segment is expected to witness the fastest growth over the forecast period.
  • By end use, the food & beverage segment has contributed more than 36% of revenue share in 2023.
  • By end use, the electronics goods segment is projected to witness rapid growth in the market during the forecast period.

Corrugated Boxes Market Size 2024 to 2033

The corrugated boxes market is a segment within the broader packaging industry, primarily involved in the production and distribution of corrugated cardboard boxes used for packaging various goods. These boxes are known for their durability, lightweight nature, and ability to withstand external pressures, making them popular choices for shipping and storing products across diverse industries.

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Growth Factors

Several factors contribute to the growth of the corrugated boxes market. One significant factor is the increasing demand for sustainable packaging solutions globally. Corrugated boxes are eco-friendly and recyclable, aligning with the growing consumer preference for environmentally responsible packaging options. Additionally, the rise of e-commerce and the expansion of the retail sector drive the demand for corrugated boxes, as they are essential for shipping products safely and securely.

Region Insights

The corrugated boxes market exhibits regional variations influenced by factors such as economic development, industrialization, and consumer behavior. Developed regions like North America and Europe have well-established corrugated box industries, driven by mature retail markets and stringent regulations promoting sustainable packaging practices. Emerging economies in Asia-Pacific, Latin America, and Africa are witnessing rapid growth in the corrugated boxes market due to expanding manufacturing sectors and increasing consumer demand.

Corrugated Boxes Market Scope

Report Coverage Details
Corrugated Boxes Market Size in 2023 USD 68.35 Billion
Corrugated Boxes Market Size in 2024 USD 70.43 Billion
Corrugated Boxes Market Size by 2033 USD 92.30 Billion
Growth Rate from 2024 to 2033 CAGR of 3.05%
Largest Market Asia Pacific
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Type, By Box Layer, By Technology, and By End-use
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

 

Corrugated Boxes Market Dynamics

Drivers

Several drivers propel the growth of the corrugated boxes market. One key driver is the booming e-commerce sector, which relies heavily on corrugated boxes for shipping products to customers. Additionally, the versatility of corrugated boxes, which can be customized to meet specific packaging requirements, appeals to manufacturers across various industries. Moreover, the emphasis on reducing packaging waste and carbon footprint further drives the adoption of corrugated boxes as an eco-friendly packaging solution.

Opportunities

The corrugated boxes market presents numerous opportunities for innovation and expansion. With the growing emphasis on sustainability, there is increasing demand for bio-based and recyclable materials in packaging. Manufacturers can capitalize on this trend by developing innovative corrugated box designs using eco-friendly materials. Furthermore, the integration of advanced technology, such as digital printing and automation, offers opportunities to enhance efficiency and customization in corrugated box production.

Challenges

Despite its growth prospects, the corrugated boxes market faces several challenges. Fluctuations in raw material prices, particularly for paper and cardboard, can impact production costs and profit margins for manufacturers. Additionally, increasing competition within the packaging industry and the emergence of alternative packaging materials pose challenges to the market growth. Moreover, regulatory complexities related to environmental standards and waste management require continuous adaptation by industry players.

Read Also: Neobanking Market Size to Rise USD 3,799.25 Billion by 2033

Corrugated Boxes Market Recent Developments

  • In November 2023, Fresh Del Monte Produce Inc., one of the world’s leading vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruits and vegetables, is proud to announce a strategic partnership with Arena Packaging, a leading packaging, design, and pooling company in North America, to introduce reusable plastic containers (RPCs) for bananas.
  • In July 2022, WestRock Co. agreed to acquire the remaining interest in Grupo Gondi for USD 970 million, plus debt. This move aims to bolster WestRock’s presence in the expanding Latin American corrugated boxes market. Grupo Gondi’s extensive infrastructure across Mexico enhances WestRock’s capacity and competitiveness in the region’s packaging markets.
  • In May 2022, Mondi announced an investment of EUR 280 million to increase the production of corrugated boards and cardboard. This investment will help to expand capacity and increase efficiency in the Czech Republic, Poland, Germany, and Turkey. Of this investment figure, EUR 185 million will go to the company’s network of corrugated solutions plants in Central and Eastern Europe.
  • In April 2022, DS Smith, a UK-based sustainable packaging provider, developed and launched a corrugated cardboard box for e-commerce shipments of medical devices. This new corrugated cardboard box features a single-material solution in place of glued packaging with a single-use plastic insert.

Corrugated Boxes Market Companies

  • DS Smith
  • Mondi Group
  • WestRock
  • Smurfit Kappa Group
  • International Paper Company
  • Pratt Industries
  • Stora Enso
  • Atlantic Packaging
  • Georgia-Pacific Packaging LLC
  • Nelson Container Corporation
  • Others

Segments Covered in the Report

By Type

  • Slotted Boxes
  • Telescope Boxes
  • Others

By Box Layer

  • Single-Phase Corrugated
  • Single-Wall Corrugated Box
  • Double Wallboard
  • Triple Wallboard

By Technology

  • Lithography
  • Flexo
  • Digital Printing
  • Rotogravure
  • Silkscreen
  • Others

By End-use

  • Food & Beverages
  • Household Products
  • Cosmetics
  • Healthcare And Pharmaceuticals
  • Personal Care
  • Shipping And Logistics
  • Electronics
  • Textile
  • E-commerce
  • Others

By Geography

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East & Africa

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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