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Corrugated Boxes Market to Witness a Rise of US$ 80.8 billion by 2026 – Exclusive Report by MarketsandMarkets™

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Corrugated Boxes Market to Witness a Rise of US$ 80.8 billion by 2026 – Exclusive Report by MarketsandMarkets™

March 28
08:55 2023
Corrugated Boxes Market to Witness a Rise of US$ 80.8 billion by 2026 - Exclusive Report by MarketsandMarkets™
Browse 255 market data Tables and 53 Figures spread through 272 Pages and in-depth TOC on “Corrugated Boxes Market”
Corrugated Boxes Market by Type, Material (Linerboard, Medium), Printing Ink( Water-based, UV-curable, Hot melt-based, Solvent-based), Printing Technology (Digital, Flexography, Lithography), End-use Industry, and Region

The corrugated boxes market size is projected to grow from USD 67.6 billion in 2021 to USD 80.8 billion by 2026, at a CAGR of 3.6%. Growth in the corrugated boxes market can primarily be attributed to the growing involvement of corrugated boxes in the food & beverages sector, industrial sector and electronic sector. There is a continual demand from the shipping and e-commerce industry as it helps in efficient transportation, product protection and user-friendly customization and promotes recyclability. These are the key factors driving the demand for corrugated boxes during the forecast period.

On the basis of type, the market is segmented into slotted boxes, telescope boxes, rigid boxes, and folder boxes. The slotted boxes segment led the market in terms of both value and volume. They are generally made from one piece of corrugated board which is usually stitched, taped, or glued. The blank, or tray, is scored and fitted to allow folding after which the boxes are dispatched flat to the user. To make a box, the user needs to square it up, place the product in the box, and shut the flaps. The flute is placed parallel to the depth to provide enough loading strength. The slotted box is a very efficiently designed product, as it generates minimal waste during its manufacturing process. It is ideal for shipping a variety of products such as cups, mugs, and books among others.

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On the basis of material, the market is segmented into linerboard, medium, and others. The linerboard material segment led the market in terms of both value and volume. Kraft liner contains at least 80% virgin kraft pulp fibers. Due to its high strength and moisture resistance, kraft liner is used as an outer and intermediate ply in corrugated boxes. The kraft liner board is primarily used for the manufacture of high-grade color-printed corrugated boxes for the food & beverages, home & personal care, and other industries. Recycled linerboard, also known as a test liner, contains less than 80% virgin kraft pulp fibers. It is also used for the outer and intermediate plies of corrugated board. However, it is not as strong as kraft liner as it has a higher recycled fiber content. Recycled liner board is less expensive than kraft liner. The recycled materials used for manufacturing recycled board include double line kraft clippings and old corrugated containers.

On the basis of printing ink, the market is segmented into, water-based inks, UV-curable inks, hot melt-based inks, and solvent-based inks. The water-based ink segment led the printing ink segment of the market by both value and volume. Water-based inks are composed of pigments or dyes in a colloidal suspension with water-soluble resins or resin emulsions. Typically, water-based inks contain a higher percentage of solids, which implies that there is less liquid to be removed. Owing to the nature of resins present in the water system, a thinner layer of ink is often used. Water-based inks are available in two varieties: dye and pigment. Although dye inks result in high-quality images, they are not waterproof and fade if exposed to UV light. Pigment inks are short-term waterproof inks with high stability in UV light.

On the basis of printing technology, the market is divided into digital printing, flexography printing, lithography printing, and others. The flexography segment led the printing technology of the market. Flexography is a quick and economical printing technique that is widely used in packaging printing due to the wide range of benefits offered. It is used to apply simple designs and colors to a wide range of packaging materials, such as corrugated boxes, plastic containers, tapes, envelopes, and metal foils. Flexography printing technology has the highest demand for printing on corrugated boxes. It is a form of relief printing that uses rubber or polymer plates to transmit an image onto a corrugated board such as in an automated rubber stamp. Flexography printing was invented in order to print on rough and uneven surfaces such as corrugated boards. The printing ink used in flexography printing is fast drying and of low viscosity. It is therefore considered to be a quick printing method. As corrugated boards are highly porous, flexography printing is ideal for plain text or 1-2 color graphical images.

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On the basis of end-use industry, the market is segmented into food & beverages, electronic goods, home & personal care goods, chemicals, textile goods, glassware & ceramics, paper products, and others. The food & beverages segment led the market in terms of both value and volume. The key categories found in the food & beverage industry include fresh produce, processed food, and non-perishables. The food & beverages sector requires packaging for the storage, handling, and transportation of products. Corrugated boxes are requiring while transporting products that have varying strengths, which includes extremely delicate, perishable products to processed food products. As corrugated boxes are non-reactive, they are an appropriate medium to package, transport, and store food for a long period of time. The packaging of processed food requires safe packaging material which is suitable to the buyer and also confirms product safety. Therefore, corrugated boxes are used for the packaging of processed foods.

The APAC region is projected to be the largest market, in terms of value. APAC is also expected to grow at the highest CAGR during the forecast period. Growth in APAC is backed by the efficient demand and supply cycle of the food & beverage, electronic, and personal care industry majorly in countries like China, India, and Japan among others. A significant increase in e-commerce business development is driving the market in the area. APAC is also an industrial hub with significantly large market size. Other factors, such as the increasing consumer goods demand, innovation in electronics and other sectors, etc., are expected to support the growth of this regional market during the forecast period.

The key companies profiled in this report on the corrugated boxes market include Rengo Co., Ltd. (Japan), Mondi Group (UK), DS Smith (UK), Smurfit Kappa Group (Ireland), and International Paper (US) are key players in corrugated boxes market.

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