CORRUGATED PACKAGING MARKET ANALYSIS

Corrugated Packaging Market, By Design (Single wall boards, Single Face boards, Double wall boards, Triple wall boards), By Product Type (Boxes, Crates, Trays, Octabin, Others), By End Use (Food & Beverage, Electrical & Electronics, Home care products, Personal care products, E-commerce, Transportation & Logistics, Healthcare, Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Jul 2024
Code : CMI3349
Pages :170
Formats :
Excel and PDF
Industry : Packaging

Market Challenges: Volatility in raw material prices

The volatility in raw material prices has significantly affected the growth of the global corrugated packaging market in recent times. Corrugated packaging is primarily made from linerboard which uses liner and fluting to form the core of packaging boxes and containers. The key raw materials used for producing linerboard are containerboard and kraftliner which are manufactured using pulp. Pulp is produced from wood and other plant fibers and its prices widely fluctuate according to global supply and demand dynamics. In recent years, the prices of wood pulp have witnessed steep increases owing to myriad factors like strong demand from China and other developing nations, supply-side bottlenecks, shortage of raw materials due to deforestation, and high freight charges.

Market Opportunities: Product innovations and development of packaging designs

Product innovations and development of packaging designs presents a major opportunity for growth in the global corrugated packaging market. With companies across industries focusing increasingly on sustainable and environment-friendly packaging solutions, corrugated packaging is poised to grow substantially. Being one of the most recycled packaging materials in the world, corrugated packaging appeals widely to companies aiming to reduce plastic waste. Recent data from the US Environmental Protection Agency shows the corrugated packaging recycling rate was over 87% in 2020, higher than any other material.