Corrugated packaging market is majorly driven by versatility and cost-effectiveness of corrugated packaging with respect to protection, preservation, and transportation. Persistence Market Research has walked through these facts with future perspectives in its latest market study entitled “Corrugated Packaging Market”.
Corrugated Packaging Market Segregation
The global corrugated packaging market, by type of product, spans single wall boards, single face boards, double wall boards, and triple wall boards. BY type of packaging, it’s boxes (slotted boxes, folder boxes, telescope boxes, and die cut boxes), crates, trays, octabin, pallet, and likewise. By end-use, it’s food & beverage, electrical & electronics, home care products, personal care products, e-Commerce, transportation & logistics, healthcare, and likewise. Persistence Market Research has mentioned about these facets with probable calls to action in its latest market study entitled “Corrugated Packaging market”.
Region-wise Analysis
North America holds the largest market share due to the government of the US encouraging initiatives related to manufacturing eco-friendly packaging materials along with relentless efforts put in by CPA (The Corrugated Packaging Alliance) herein. Plus, the fact that the major cities of the US like Washington, New York, California, Massachusetts, and Maine have banned the usage of plastic bags and containers and also the other single-use non-recyclable products. The US, in the present scenario, has over 1,100 corrugated packaging production facilities, with every box having more than 50% of recycled content. Europe stands second on this count. The Asia-Pacific is also moving towards adoption of corrugated packaging and expected to grow on a remarkable note between 2021 and 2031. Persistence Market Research has highlighted these facts with insights in its latest market study entitled “Corrugated Packaging Market”.
Competitive Packaging
Persistence Market Research has profiled the key players in the corrugated packaging market as DS Smith Packaging Limited, Menasha Corporation, Wisconsin Packaging Corporation, Arabian Packaging Co LLC, Klabin S.A., GWP Group Ltd., TGI packaging Pvt. Ltd., Georgia-Pacific LLC, Smurfit Kappa Group Plc, WestRock Company, Rengo Co., Ltd., Pratt Industries Inc., and likewise.
Persistence Market Research has moved a step further with mentioning the latest developments on this count. For instance – TriState Container Corporation that is known for providing types of corrugated solutions – right from shipping containers to custom-high corrugated requirements, has turned out to be the very first company to take over IDERA. As of now, IDERA is the newest and latest digital printing solution with respect to corrugated packaging converters.
Persistence Market research has also listed the trends on this count. For example – Xiamen Hexing Packaging Co. Ltd. (HXPP), which is known for acquiring China-based first HP PageWide digital press, is looking forward to meeting the increasing demand for personalized corrugated packaging.
Coming to the other courses of development, Heinz, in September 2021, entered into partnership with WestRock for replacing shrink-wrapped multipacks of Heinz pasta, Heinz soups, and Heinz beanz varieties on the supermarket shelves with WestRock’s recyclable paperboard. This design is devoid pf glue and has 50% less material as compared to completely enclosed wraparound box and 10% less in comparison with conventional paperboard sleeve design. Mondi Group, in August 2021, did launch 7 novel sustainable corrugated packaging solutions to grow online grocery delivery services all across Central Europe. As such, the boxes under eGrocery portfolio are 100% recyclable.
In continuation with the developments, International Paper, in March 2021, bought 2 plants manufacturing corrugated boxes in Spain to expand the facilities therein. Rengo Co. Ltyd., in January 2021, purchased over 90% of shares in Bien Hoa Packaging Joint Stock Company based in Vietnam. At present, it has 2 folding carton units and 6 corrugated packaging factories in Vietnam.
How about the Future?
The global corrugated packaging market is slated to grow on the back of innovations between 2021 and 2031 – Persistence Market Research.
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