Corrugated Wraps Market Growth: Industry Size to Reach US$ 5,820.2 Million by 2033, Regional Analysis, Growth, Trends and Opportunities

The global corrugated wraps market is poised for substantial growth, with an anticipated market value of US$ 3,747.8 million expected in 2023. Looking further ahead, the market is projected to continue its ascent, reaching an impressive market value of US$ 5,820.2 million by 2033, marking a notable Compound Annual Growth Rate (CAGR) of 4.5% over the decade from 2023 to 2033.

This growth trajectory is underpinned by several key factors, including the increasing prevalence of e-commerce platforms and the rising demand for environmentally friendly packaging materials. In the recent historical period from 2018 to 2022, the corrugated wraps market exhibited a commendable CAGR of 3.1%, signaling the industry’s resilience and adaptability to evolving consumer and market demands.

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The corrugated wraps market, which involves the production and use of corrugated paper wraps for packaging and protection of various goods, is influenced by several drivers and restraints that shape its growth and dynamics. Here are some key drivers and restraints for the corrugated wraps market:

Drivers:

1. E-commerce Growth: The rapid expansion of e-commerce has significantly increased the demand for corrugated wraps as they are used for the packaging and protection of products during shipping and handling.
2. Sustainable Packaging: Corrugated wraps are often seen as an environmentally friendly packaging option as they are recyclable and made from renewable materials, catering to the growing consumer preference for sustainability.
3. Customization: Manufacturers offer corrugated wraps in various sizes and print options, allowing businesses to customize packaging with branding, graphics, and product information.
4. Protection and Cushioning: Corrugated wraps provide effective cushioning and protection for fragile or delicate items, reducing the risk of damage during transportation.
5. Cost-Effective Packaging: Corrugated wraps are a cost-effective packaging solution, especially for bulk shipments, which can help reduce overall packaging costs.
6. Versatility: Corrugated wraps can be used for various applications, including wrapping individual items, bundling products, and creating dividers within boxes.
7. Market Expansion: The growth of retail sectors beyond e-commerce, such as food and beverage, pharmaceuticals, and electronics, has contributed to the demand for corrugated wraps.

Restraints:

1. Environmental Impact: While corrugated wraps are recyclable, the production process can have environmental impacts, and concerns exist about the carbon footprint of paper manufacturing.
2. Competition from Alternatives: Corrugated wraps face competition from alternative packaging materials such as bubble wrap, air pillows, and foam cushioning, especially for fragile items.
3. Storage Space: Corrugated wraps can consume storage space, especially when used in large quantities, which may not be feasible for some businesses with limited storage capacity.
4. Bulkiness: Corrugated wraps can be bulkier compared to thinner packaging materials, which can impact shipping costs and storage efficiency.
5. Material Sourcing: Fluctuations in the availability and cost of raw materials, such as paper and cardboard, can impact the pricing and availability of corrugated wraps.
6. Regulatory Compliance: Compliance with packaging regulations and standards, particularly in industries like food and pharmaceuticals, can be challenging and costly.
7. Supply Chain Disruptions: Events like the COVID-19 pandemic have disrupted global supply chains, affecting the availability of corrugated wraps and other packaging materials.

Start-ups for Corrugated Wraps Market

Key start-ups for corrugated wraps are Noptla, Evoware, BeeBagz, RooCreate, Kleen Hub, and Boostani.

• BeeBagz, a Canadian start-up, offers plastic-free, eco-friendly, and reusable wrappers. The start-up uses plant-based products to manufacture these wrappers and aims to reduce single-use packaging.
• Boostani, another key player, focuses on creating wraps with barrier properties. The start-up uses mono materials to reduce the need for extra layers and can be easily recycled.

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Key Players

• Springfield Corrugated Box
• Crown Technologies
• Palmer Packaging Inc.
• Packsize LLC
• Amcor
• International Paper
• Smurfit Kappa Group
• WestRock
• Mondi Group
• DS Smith
• Context

Key Segments Profiled in the Corrugated Wraps Market Industry Survey

By Material Type:

• Paper
  • Semi-gloss/Matte Paper
  • Direct Thermal Paper
  • Vellum Paper
  • Others
• Plastic
• Fiber

By End Use:

• Schools
• Retail Stores
• Warehouses
• Restaurants

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia and Pacific
• The Middle East & Africa

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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