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The global corrugated carton market size was valued at USD 158.76 billion in 2022. The market is projected to grow from USD 164.93 billion in 2023 to USD 218.39 billion by 2030, exhibiting a CAGR of 4.09% during the forecast period.
Corrugated cartons are produced by using two to three layers of liners, creating a robust structure. These cartons provide strength to the products, which helps for the transportation of goods. They are resistant to tear and pressure and are light in weight which is anticipated to increase their demand and boost market growth during the forecast period.
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List of Key Players Present in the Report:
Rengo Co., Ltd. (Japan)
Mondi Group (U.K.)
Smurfit Kappa (Ireland)
International Paper (U.S.)
WestRock Company (U.S.)
DS Smith (U.K.)
Cascades (Canada)
Georgia-Pacific, LLC (U.S.)
Kapco Packaging (India)
Stora Enso (Finland)
Segments:
Increasing Cost-Effectiveness to Drive Single Wall Segment Growth
By wall type, the market is divided into single wall, double wall, and triple wall. The single wall segment holds the largest corrugated carton market share as single wall cartons are highly cost-effective and lightweight.
Growing Utilization of Slotted Cartons by Customers to Boost Slotted Carton Segment Growth
By product type, the market is classified into slotted carton, folding carton, telescope carton, and die cut carton. The slotted carton segment dominates the market due to increasing utilization by several companies and customers to ship their products. The increased demand is driven by strong flaps & stable structure of slotted cartons.
Growing Usage of Corrugated Cartons in Food & Beverage Industry to Boost Food & Beverage Segment Growth
Based on end-use industry, the market is segmented into food & beverage, pharmaceutical, e-commerce, chemicals, building & construction, and others. The food & beverage segment accounted for the largest market share in 2022 owing to the increasing usage of corrugated-cartons in the food & beverage industry and rising sustainability.
Geographically, the market is studied across North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Report Coverage
The report provides major growth drivers, restraining factors, opportunities, and potential challenges for the market. It offers comprehensive insights into regional developments, a list of major industry players, key strategies adopted by market players, and the latest industry developments, including product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints
Increasing Demand in E-Commerce Industry to Drive Market Growth
Corrugated-cartons are helpful for safe transportation of all products from various industries, including pharmaceuticals and food & beverages. The easy printability and customizability of these cartons along with the growing preferences of customers toward packaged food and the rising number of online food outlets drives the corrugated carton market growth.
Increased costs of raw materials and kraft paper globally may hinder market growth during the forecast period.
Regional Insights
Asia Pacific Leads Due to Growing E-Commerce Packaging and Sales
Asia Pacific dominates the market and is estimated to witness significant growth during the forecast period. The increasing e-commerce packaging and sales due to increasing consumer interest in online shopping and easy availability of products, are driving the use of corrugated cartons globally.
Europe is the second leading region and is estimated to grow significantly during the forecast period due to the ban on single-use plastic in the region.
Competitive Landscape
Growing Innovative Packaging Offering by Major Players to Drive Market Growth
The key players in the corrugated carton market are focusing on offering innovative packaging in the packaging industry to strengthen their market position. They are expanding their product portfolio to maintain a competitive edge in the market, further propelling market growth during the forecast period.
Key Industry Development
September 2022 – VRK Group introduced a new Fit2size brand for fanfold corrugated packaging solutions. The product was launched in response to the rising demand for logistics packaging and e-commerce across Europe.
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