“The global corrugated packaging market will be primarily driven by material & design innovation. Food & beverages are likely to register the highest demand, whereas Ecommerce sector has been spotted as the market growth catalyst,” quotes a research analyst (Persistence Market Research).
A revised industry analysis on corrugated packaging by Persistence Market Research predicts the market to be worth approximately US$ 357 Bn by the end of 2031, nearly doubling from its value in 2021. The market is anticipated to expand at a positive CAGR of around 6.7% over the next 10 years. The North American region accounts for around 1/3 of the global market share, according to this industry survey.
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FACTS AT A GLANCE
Companies:DS Smith Packaging Limited,Menasha Corporation,Wisconsin Packaging Corporation,Arabian Packaging Co LLC,Klabin S.A.,GWP Group Limited,TGI Packaging Pvt. Ltd.,Georgia-Pacific LLC,Smurfit Kappa Group PLC,Westrock Company,Rengo Co., Ltd.,Pratt Industries Inc.,Others.
Coverage: All major geographies and key segments
Segments: Type(Single wall boards,Single Face boards,Double wall boards,Triple wall boards); Applications(Food & Beverage,Electrical & Electronics,Home care products,Personal care products,E-commerce,Transportation & Logistics,Healthcare,Others)
Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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ABSTRACT-
The report provides forecast and analysis of the global corrugated packaging market. It provides historical data of 2016-2020 along with forecast from 2021 to 2031 in terms of revenue (US$ Mn) and volume (000’ Tonnes). It includes drivers and restraints of the global corrugated packaging market and their impact on each country during the forecast period.
The report also comprises of the study of current issues with end users and opportunities for corrugated packaging manufacturers. It also includes detailed pricing analysis by product type and value chain analysis. A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, World Bank, Packaging Digest, and Hoover’s, and company annual reports and publications.
In order to provide users of this report with comprehensive view of the market, we have included detailed competitiveness analysis and company players with unique selling propositions. The dashboard provides detailed comparison of corrugated packaging manufacturers on parameters such as operating margin, unique selling propositions, collective market share, and geographic concentration. The study encompasses market attractiveness analysis by product type, packaging type, end use, and region.
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The report includes the revenue generated from sales of corrugated packaging across the globe. By product type, the market has been segmented as single wall board, single face board, double wall board and triple wall board. By packaging type, the market has been segmented into box, crates, trays, octabin, pallet and others.
Box segment is further categorized into slotted box, folder box, telescope box and die cut box. On the basis of end use, the global corrugated packaging market is classified into food & beverage, electrical & electronics, home care products, personal care products, e-commerce, transportation & logistics, healthcare and others.
Market numbers have been estimated based on average usage of corrugated packaging on the basis of applications and the revenue is derived through cost of corrugated packaging in tonnes. Market size and forecast for each segment has been provided in the context of global markets.
The corrugated packaging has been analyzed based on expected demand. Prices considered for the calculation of revenue are average regional prices obtained through primary quotes from numerous regional packaging manufacturers, suppliers, and distributors.
All key end users have been considered and potential applications have been estimated on the basis of secondary sources and feedback from primary respondents. Regional demand patterns have been considered while estimating the market for various end users of corrugated packaging across the globe.
Top-down approach has been used to estimate the corrugated packaging by region. Global market numbers product type, packaging type and end use have been derived using the bottom-up approach, which is cumulative of each regional demand. Company-level market share has been derived on the basis of revenues reported by key manufacturers. The market has been forecast based on constant currency rates.
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