The heavy-duty corrugated packaging market is predicted to register a valuation of US$ 20.9 billion in 2023 and is projected to rise to US$ 34.04 billion by 2033. The market is capturing a CAGR of 5% during the forecast period.
The market is influenced by several factors, including:
- Growing demand for e-commerce:With the rise of e-commerce, there is a growing demand for heavy-duty corrugated packaging to protect goods during shipping and handling.
- Increasing need for sustainable packaging:Consumers and companies are increasingly concerned about the environmental impact of packaging and are looking for sustainable solutions. Heavy-duty corrugated packaging made from recycled materials is more sustainable than traditional packaging.
- Growth in industrial and manufacturing sectors:Heavy-duty corrugated packaging is widely used in industrial and manufacturing sectors to protect heavy and bulky products during shipping and handling.
- Technological advancements in packaging machinery:The development of advanced packaging machinery and equipment has made producing heavy-duty corrugated packaging in large quantities easier and more efficient.
- Emerging markets and international trade:As global trade continues to grow, there is an increasing need for heavy-duty corrugated packaging to protect goods during transportation.
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Overall, the heavy-duty corrugated packaging market is expected to grow as demand for sustainable packaging solutions and the need for product protection during shipping and handling continue to increase.
How Manufacturers Faced Challenges in the Global Market?
Manufacturers in the heavy-duty corrugated packaging market have faced several challenges in recent years. Some of these challenges include:
- Raw Material Costs:The cost of raw materials used in heavy-duty corrugated packaging has increased, making it challenging for manufacturers to maintain profitability. It includes the cost of liner board, corrugated medium, and adhesives used in manufacturing.
- Increasing Competition:With the growth of e-commerce and the rise of sustainable packaging, manufacturers face increasing competition in the heavy-duty corrugated packaging market. It has led to price pressure and manufacturers needing to differentiate their products through innovation and value-added services.
- Environmental Concerns:Consumers and governments are increasing pressure on manufacturers to reduce their environmental impact. It includes reducing the amount of packaging material used, using sustainable materials, and improving the recyclability of their products.
- Supply Chain Disruptions:The COVID-19 pandemic has led to disruptions in the supply chain, including shortages of raw materials, transportation issues, and labor shortages. It has made it challenging for manufacturers to meet customer demand and maintain production schedules.
- Technological Advancements:The use of new technologies such as 3D printing and digital printing is changing the way manufacturers produce and design heavy-duty corrugated packaging. It has created opportunities for new players to enter the market, and established players must adapt to remain competitive.
Overall, the heavy-duty corrugated packaging market faces a challenging and rapidly changing landscape, and manufacturers must be innovative and adaptable to remain competitive.
Key Takeaways:
- The heavy duty corrugated packaging marketis expected to have a valuation of US$ 04 billion by 2033.
- With a CAGR of 5%, the global market is increasing during the forecast period.
- With a CAGR of 6%, the United Kingdom heavy duty corrugated packaging marketsignificantly uplifts during the forecast period.
- China market is capturing a valuation of US$ 10 billion by 2033.
Online Retail Boom Favoring Heavy-Duty Corrugated Packaging Sales
FMI analyses that E-commerce & the growing retail industry plays a crucial role in driving the heavy-duty corrugated packaging demand. In addition to this, the stringent rules and regulations on the use of plastic-based packaging products will also push the usage of recycled paper packaging products such as heavy-duty corrugated packaging, in the near future.
The global market for heavy-duty corrugated boxes has witnessed an unprecedented price increase in the last one and a half years. The heavy-duty corrugated packaging industry is still struggling with the supply of raw material i.e. containerboard. Paper packaging markets in countries such as China, India, and Brazil, are growing at a fast rate and the demand has increased several folds in the last 10 years, which will support the growth of the heavy-duty corrugated packaging market during the forecast period.
Despite being a fragmented market, Europe represents one-fourth of the global heavy-duty corrugated packaging market. The United States heavy-duty corrugated packaging market is anticipated to expand at a progressive CAGR due to the highest number of convenience and superstores in the region. Moreover, the expanding middle class in emerging economies of Latin America such as Mexico & Brazil is creating demand for protective packaging solutions such as heavy-duty corrugated packaging and subsequently driving the market.
Considering the Asia Pacific region, the organized retail industry and the growing FMCG sector are escalating the growth of the heavy duty corrugated packaging market in China, India, etc. China is anticipated to represent a healthy CAGR of above 6% in the global heavy duty corrugated packaging market.
Key market players that have been profiled in the report on the heavy-duty corrugated packaging market include Mondi Group, VPK Packaging Group, International Paper Company, WestRock Company, Georgia Pacific, LLC, Pratt Industries, Inc., Oji Holdings Corporation, Smurfit Kappa Group Plc., DS Smith Packaging Limited, Sonoco Products Company, Smurfit Kappa Group Plc, Elsons International, SCG Packaging Public Company Limited, GWP Group Limited, Packaging Corporation of America, U.S. Corrugated, Inc., Quadwall Ltd., Cheng Loong Corporation, Felbro, Inc. & Menasha Packaging Company, LLC. Several unorganized and regional market players are expected to contribute to the global heavy duty corrugated packaging market during 2019-2029.
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Key Segments of Heavy Duty Corrugated Packaging Industry Research
Heavy Duty Corrugated Packaging Market by Product Type:
- Corrugated Boxes
- Pallet Boxes
- Single Cover Boxes
- Double Cover Boxes
- Telescopic Boxes
- Liquid Bulk Boxes
- Slotted Boxes
- Others
- Octabins
- High Performance Totes
- Vegetable Totes
- Pallets
- POP Displays
- Others (Edge Protectors, etc.)
Heavy Duty Corrugated Packaging Market by Board Type:
- Single Wall Heavy Duty Corrugated Packaging
- Double Wall Heavy Duty Corrugated Packaging
- Triple Wall Heavy Duty Corrugated Packaging
Heavy Duty Corrugated Packaging Market by Capacity:
- Up to 100 lbs. Heavy Duty Corrugated Packaging
- 100 to 300 lbs. Heavy Duty Corrugated Packaging
- Above 300 lbs. Heavy Duty Corrugated Packaging
Heavy Duty Corrugated Packaging Market by End Use:
- Food & Beverages
- Chemicals
- Consumer Electronics
- Cosmetics & Personal Care
- Healthcare
- Textiles
- Glassware & Ceramics
- Automobiles
- Homecare
- Others
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Heavy Duty Corrugated Packaging Market by Region:
- North America Heavy Duty Corrugated Packaging Market
- Latin America Heavy Duty Corrugated Packaging Market
- Europe Heavy Duty Corrugated Packaging Market
- East Asia Heavy Duty Corrugated Packaging Market
- South Asia & Pacific Heavy Duty Corrugated Packaging Market
- Middle East & Africa (MEA) Heavy Duty Corrugated Packaging Market
Who is Winning?
Key players play a vital role in the heavy-duty corrugated packaging market by driving innovation, improving production efficiency, and providing value-added services to customers. These players are investing in research and development to develop new products that meet customers’ changing needs. It includes products that are more sustainable, lightweight, and customizable.
Other Essential Players in the Heavy Duty Corrugated Packaging Market are:
- VPK Packaging Group
- Mondi Group
- International Paper Company
- WestRock Company
- Pratt Industries Inc.
- Smurfit Kappa Group Plc.
- DS Smith Packaging Limited
- Sonoco Products Company
- Elsons International
- SCG Packaging Public Company Limited
- Felbro Inc.
- Menasha Packaging Company LLC.
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