Carton Board Market Size

Carton Board Market Analysis

The Global Cartonboard Market size is estimated at USD 71.93 billion in 2024, and is expected to reach USD 98.41 billion by 2029, growing at a CAGR of 6.47% during the forecast period (2024-2029).

• The cartonboard market is significantly influenced by the burgeoning e-commerce logistics industry, driven by evolving consumer behavior and the increased prevalence of online shipping. Furthermore, environmentally conscious consumers are favoring eco-friendly products, leading to a voluntary shift toward sustainable packaging like paperboard, which is gaining market acceptance rapidly. Additionally, the recyclability of cartons multiple times reduces overall environmental waste, prompting governments to actively support such initiatives.
• The packaging industry, being complex and ever-evolving, has been impacted by technological advancements in two significant ways: the rising demand for packaging in e-commerce and the integration of sensors and other technologies into packaging materials. E-commerce has brought forth new packaging concerns such as product safety, unpacking experiences, anti-counterfeiting measures, optimization for final delivery, and a growing interest, especially among major e-commerce retailers, in merging primary and secondary packaging.
• The global retail market is experiencing substantial growth, propelling the demand for retail-ready packaging (RRP). Recent data from the United States Department of Agriculture (USDA) indicates that packaged food retail sales in Saudi Arabia alone surpassed USD 20 billion. RRP has become a pivotal aspect of retailing as retailers continually seek methods to enhance efficiency and sustainability. While packaging had traditionally dominated RRP, the need for size reduction presents significant opportunities in the folding carton packaging format, ultimately driving market growth.
• In recent years, the price of paper has soared due to factors like increasing demand, availability issues, and other market changes in the pulp and paper industry. The global economy's post-COVID reopening and companies regaining momentum led to a surge in paper demand. However, supply shortages emerged due to disruptions in the supply chain, including raw material shortages and transportation problems. This supply-demand imbalance significantly escalated paper prices, highlighting the industry's challenges influenced by economic recovery and supply chain dynamics.
• The COVID-19 outbreak substantially altered consumer behavior, with buyers placing heightened emphasis on product hygiene, safety, and sustainability. The evolving needs of shoppers and a consumer-centric approach remained pivotal as the crisis endured. Anticipated changes in consumer behavior in the forecast period were expected to reflect the market's adaptation to the then-current scenario, fostering promising demand for paper and paperboard packaging in the post-COVID-19 future.