The
global Corrugated Board Market size is expected to reach
USD 227.8 billion by 2030, according to a new report by Grand View Research,
Inc., expanding at a CAGR of 6.8% from 2023 to 2030. The growing trend of green
packaging and global online sales expansion have created a profound impact
on the market for corrugated board.
The
expansion of e-commerce is the most important retail trend that has
fueled the growth of the market in the past few years. The e-commerce segment
particularly picked up pace following the outbreak of the COVID-19 pandemic in
2020 as strict lockdowns were imposed across nations with limited access to
essentials. The aforementioned factor, along with the hesitation of consumers
to go outside for shopping as a precautionary measure, is expected to further
boost the sales of the e-commerce market. Additionally, 74% of global consumers
and retail brand professionals have estimated the spike in sales to be
permanent over the upcoming years.
Corrugated
board packaging has always been one of the most predominant packaging products
used in e-commerce logistics. The packaging is used to transport all kinds of
products from manufacturer to distribution center to wholesaler and retailer.
The companies that have been primarily reliant on plastic packaging in
e-commerce are now adopting corrugated board packaging to comply with
regulations across countries.
However,
corrugated board tends to get substituted by other sustainable alternatives
such as rigid bioplastics as these offer superior properties such as aesthetic
appeal and moisture barrier as compared to corrugated boards. Bioplastics are
derived from renewable sources such as cellulose, starch, vegetable fats, and
vegetable oils. Bioplastics may or may not be biodegradable and can be
bio-based or fossil-based. Therefore, availability of alternatives and lower
durability of corrugated board would limit its consumption.
Related Press
Release@ Corrugated Board Market Report
Corrugated Board Market Report Highlights
- In terms of
revenue, A Flute is projected to expand at the highest CAGR of 7.7% over
the forecast period. A-flute enables the largest spring travel and thereby
provides a higher cushioning effect, stiffness, and lateral crush
resistance to the contents. Therefore, it is suitable for use in the
packaging of fragile and delicate products
- The single
wall board style segment accounted for the largest revenue share of over
35.0% in 2022. Boxes made from single-wall corrugated boards are lighter
in weight due to a single layer of fluted paper, which lowers shipping
costs. The rising trend of online shopping is likely to contribute to
increased demand for single wall packaging solutions
- Asia Pacific
dominated the market in 2022 and is expected to witness lucrative growth
over the forecast period. The presence of highly populated countries, such
as China and India, growing urbanization, and increasing spending power of
the population are expected to drive the market in the region
- The market
is highly competitive and fragmented with a strong presence of local and
global companies
Corrugated Board Market Report
Scope
|
Report Attribute |
Details |
|
Market size value in 2023 |
USD 152.2 billion |
|
Revenue forecast in 2030 |
USD 227.8 billion |
|
Growth Rate |
CAGR of 6.8% from 2023 to 2030 |
|
Base year for estimation |
2022 |
|
Historical data |
2017 - 2021 |
|
Forecast period |
2023 - 2030 |
Corrugated Board Market Segmentation
Grand
View Research has segmented the global corrugated board market on the basis of
flute type, board style, and region:
Corrugated Board Flute Type (Volume, Million Tons;
Revenue, USD Million, 2017 - 2030)
- A Flute
- B Flute
- C Flute
- E Flute
- F Flute
- Others
Corrugated Board Style Outlook ( Volume, Million Tons;
Revenue, USD Million, 2017 - 2030)
- Single Face
- Single Wall
- Double Wall
- Triple Wall
Corrugated Board Regional Outlook (Volume, Million Tons;
Revenue, USD Million, 2017 - 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- South Korea
- Central
& South America (CSA)
- Brazil
- Middle East
& Africa (MEA)
- South
Africa
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals, materials,
healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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