As per the recently published report by MarketsandMarkets™, the “Corrugated Boxes Market by Type, Material (Linerboard, Medium), Printing Ink( Water-based, UV-curable, Hot melt-based, Solvent-based), Printing Technology (Digital, Flexography, Lithography), End-use Industry, and Region – Global Forecast to 2026“, size is estimated at USD 67.6 billion in 2021 and is projected to reach USD 80.8 billion by 2026, at a CAGR of 3.6%. Corrugated boxes are often used as shipping containers. They are sturdy, handy, and lightweight, owing to which they are used in a wide range of applications. The corrugated boxes market is witnessing demand owing to the rise in the online retail industry. The growing food & beverages, electronic, textile, home & personal care, glassware & ceramics, chemicals, and paper & paper products industries have contributed significantly towards the growth of the corrugated boxes market.
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- 255 Market data Tables
- 53 Figures
- 272 Pages and in-depth TOC on “Corrugated Boxes Market – Global Forecast to 2026″
This report also provides a comprehensive analysis of the companies listed below:
The key players in the corrugated boxes market are Rengo Co., Ltd. (Japan), Mondi Group (UK), DS Smith (UK), Smurfit Kappa Group (Ireland), and International Paper (US), and others.
Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the corrugated boxes market.
Recent Developments
- In October 2021, Smurfit Kappa Group completed the acquisition of Verzuolo. As a result of this acquisition, the company converted the PM9 machine into a state-of-the-art 661,387-ton recycled containerboard machine in 2019. It complements the already existing and strategically located operational facilities near the port of Savona. This is expected to benefit the company as well as the customer base.
- In September 2021, Rengo Co., Ltd. announced that its joint venture in Vietnam, Vina Kraft Paper Co., Ltd., has opted to build a new containerboard production site. Due to continued foreign direct investments, majorly in the export industry, and expanding domestic consumption, Vietnam’s total annual demand for containerboard was over three million tons in 2019. Vina Kraft Paper is expected to firmly establish itself as a market leader in the Vietnam containerboard sector, with the newly constructed mill aiming for long-term development and expansion. It is also expected to boost Vietnam’s local integrated containerboard to corrugated box production system.
- In September 2021, the Mondi Group expanded by installing new equipment at its corrugated box production plant in Szczecin, Poland. This expansion aims at expanding the company’s packaging portfolio and enhance production processes. This expansion is expected to further strengthen the company’s presence as a preferred e-commerce packaging supplier to the growing European markets.
- In August 2021, DS Smith developed a completely recyclable e-commerce packaging for Blaue Helden. This sustainably developed e-commerce packaging from DS Smith imparts the environment-friendly cleaning tabs from Blaue Helden, an enhanced appearance catering to online retail, with 100% corrugated cardboard and no plastic filling material at all.
- In March 2021, International Paper completed the purchase of two state-of-the-art corrugated box plants in Spain. This purchase will enhance the capabilities of the company in Madrid and Catalonia. Corrugated packaging business is of strategic importance to the company with respect to the EMEA. It offers its customers high-quality packaging solutions in the industrial, fresh fruits and vegetables, and e-commerce segments. The two businesses have been the part of International Paper from April 1, 2021.
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Rengo Co., Ltd. is engaged in the manufacture and sales of packaging materials and equipment. It operates through the following business segments: paperboard and packaging, flexible packaging, heavy duty packaging, overseas business, and others. The paperboard and packaging segment manufactures and sells paperboard, corrugated board, and corrugated containers. The flexible packaging segment manufactures and sells of flexible packaging and cellophane. The heavy-duty packaging segment manufactures and sells heavy duty packaging products. The overseas business handles overseas operations of the paperboard, corrugated boxes, flexible packaging, and heavy-duty packaging products. The others segment manufactures and sells nonwoven products, paper packaging machinery, printing paper, and other businesses that includes transport, insurance agency, leasing, and real estate.
Mondi Group is integrated fully across the paper and packaging value chain, beginning from the manufacture of compound plastics and papers to the development of innovative packaging solutions for industries as well as consumers. The company deals in corrugated packaging, flexible packaging, engineered materials, and uncoated fine paper. It offers a wide range of products such as office papers, extrusion coatings, industrial bags, containerboards, corrugated, and consumer goods packaging. The company offers several brands including color copy, DNS, IQ, MAESTRO, and NAUTILUS. The Mondi Group has operations in more than 30 countries globally and offers products which are highly sustainable and best meet the needs of customers. Amcor Limited (Australia), Sonoco Products Company (US), and Constantia Flexibles (Austria) are some of the key competitors of the company.
The APAC region is projected to be the largest market, in terms of value. APAC is also expected to grow at the highest CAGR during the forecast period. Growth in APAC is backed by the efficient demand and supply cycle of the food & beverage, electronic, and personal care industry majorly in countries like China, India, and Japan among others. A significant increase in e-commerce business development is driving the market in the area. APAC is also an industrial hub with significantly large market size. Other factors, such as the increasing consumer goods demand, innovation in electronics and other sectors, etc, are expected to support the growth of this regional market during the forecast period.
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