Corrugated & Paperboard Boxes Market Size

Corrugated & Paperboard Boxes Market Analysis

The Corrugated & Paperboard Boxes market was valued at USD 252.16 billion in 2020 and is expected to reach USD 336.61 billion by 2026, at a CAGR of 4.7% over the forecast period 2021 - 2026. The corrugated and paperboard box market is developed, but there are opportunities for gains, especially in the rise of box features to account for more direct-to-consumer applications and in maintaining sustainability. Corrugated and paperboard boxes are utilized in the packaging and transportation of a broad variety of products and have become immensely significant in recent years due to the accelerated growth of the e-commerce industry, which is anticipated to remain a principal driving factor for the global corrugated and paperboard boxes market, as it requires corrugated and paperboard boxes for carrying and storing the broad variety of products it handles. Also, corrugated packaging covers 88% of recycled content with the added fresh fibers originating from sustainably managed forests, it is safe rather than catastrophic. Notable e-commerce businesses such as Amazon are pushing towards corrugated board packaging for e-commerce packaging as it aids in controlling costs apart from giving an environment-friendly option.

• While the food and beverage industry ranks as one of the biggest established end-use application sectors for corrugated and paperboard boxes, future growth is anticipated to come from other developing fields such as electronic products and accessory packaging. Asia-Pacific serves the most comprehensive and the fastest-growing market globally, led by factors such as rising economies, increasing disposable incomes and enhanced consumption of manufactured goods. Although the number of corrugator plants has declined by nearly 200 since 1992, the total production levels have increased by over 500 million square feet in whole yearly production at a similar time (Fibre Box Association).
• Asia leads the world in total corrugated production and shipments, with more than 130 billion square meters produced in 2018, or 53.7% of the market. Europe is the second-leading producer, with nearly 6 billion square meters (21.7% of the market) produced and shipped (International Corrugated Case Association). With online sales increasing, production levels increase, and several new plants starting operations between 2018-2024, the corrugated box industry looks poised for accelerated growth. The growing consumption in emerging nations due to the banning of usage of plastic packaging, give strong growth outlooks for the corrugated and paperboard box market, which is anticipated to drive the demand for Corrugated & Paperboard Boxes.