The corrugated packaging market is driven by various factors such as increasing demand for sustainable and eco-friendly packaging solutions, growth in the e-commerce industry, and rising demand for packaged food and beverages. The shift towards e-commerce has led to an increase in demand for corrugated boxes as they are lightweight, durable, and cost-effective. The rising concerns regarding environmental pollution and the need for sustainable packaging solutions have led to the adoption of recycled and renewable materials in the manufacturing of corrugated boxes. The market is also witnessing various technological advancements, such as the development of digital printing technology, which is expected to increase the efficiency of the packaging process. However, the market faces challenges such as the volatility in raw material prices and the availability of alternatives such as flexible packaging.
Corrugated Packaging Market was valued at US$ 283.1 Billion in 2021 in terms of revenue, exhibiting a CAGR of 4% during the forecast period (2022 to 2030).
Market Leaders in the Corrugated Packaging Industry:
1. International Paper Company is an American pulp and paper company that was founded in 1898. The company is headquartered in Memphis, Tennessee, USA, and operates in more than 40 countries. International Paper is one of the largest producers of paper products in the world and has more than 50,000 employees worldwide. In June 2021, International Paper Company announced that it had completed the acquisition of the packaging business of Graphic Packaging International, LLC, which is expected to increase the company's capacity in the North American market.
2. West Rock Company is an American corrugated packaging company that was founded in 2015. The company is headquartered in Atlanta, Georgia, USA, and operates in more than 30 countries. West Rock Company specializes in packaging solutions for a wide range of industries and has more than 50,000 employees worldwide.
3. DS Smith Packaging Limited is a British corrugated packaging company that was founded in 1940. The company is headquartered in London, UK, and operates in more than 30 countries. DS Smith Packaging Limited specializes in sustainable packaging solutions and has more than 30,000 employees worldwide. In April 2021, DS Smith Packaging Limited announced that it had launched a new sustainable packaging solution called "Circular Design Principles," which is designed to reduce waste and improve recyclability.
4. Mondi Group is a multinational packaging and paper company that was founded in 1967. The company is headquartered in Vienna, Austria, and operates in more than 30 countries. Mondi Group produces packaging solutions for a wide range of industries and has more than 25,000 employees worldwide. In March 2021. Mondi Group has also announced plans to expand its sustainable packaging offerings by investing in new technologies and innovations.
5. Nefab Group is a Swedish packaging company that was founded in 1949. The company is headquartered in Jönköping, Sweden, and operates in more than 30 countries. Nefab Group specializes in custom packaging solutions and has more than 4,500 employees worldwide.
6. Georgia- Pacific is an American pulp and paper company that was founded in 1927. The company is headquartered in Atlanta, Georgia, USA, and operates in more than 30 countries. Georgia-Pacific produces a wide range of paper products and has more than 35,000 employees worldwide.
7. Smurfit Kappa is an Irish packaging company that was founded in 1934. The company is headquartered in Dublin, Ireland, and operates in more than 30 countries. Smurfit Kappa specializes in sustainable packaging solutions and has more than 45,000 employees worldwide. In March 2021, Smurfit Kappa announced the launch of a new range of biodegradable and compostable packaging products called "Ekolife," which is designed to provide sustainable alternatives to traditional packaging materials.
8. Stora Enso is a Finnish pulp and paper company that was founded in 1998. The company is headquartered in Helsinki, Finland, and operates in more than 35 countries. Stora Enso produces packaging solutions for a wide range of industries and has more than 26,000 employees worldwide.
9. Packaging Corporation of America is an American corrugated packaging company that was founded in 1959. The company is headquartered in Lake Forest, Illinois, USA, and operates in more than 30 countries. Packaging Corporation of America specializes in packaging solutions for the food and beverage industry and has more than 15,000 employees worldwide.
10. Graphic Packaging International, LLC is an American packaging company that was founded in 1969. The company is headquartered in Atlanta, Georgia, USA, and operates in more than 20 countries. Graphic Packaging International, LLC produces packaging solutions for a wide range of industries and has more than 20,000 employees worldwide
*Definition- Corrugated packaging refers to a type of material made of fluted paper or cardboard, which is commonly used in the manufacture of boxes and other containers for shipping, storing, and protecting goods.
