Between 2023 and 2033, the corrugated fiberboard market is poised for impressive growth, with an estimated average compound annual growth rate (CAGR) of 5.9%. By the year 2033, the market is projected to command a substantial market share of US$ 187.9 billion, while in 2023, it is anticipated to start at a value of US$ 105.9 billion.
Corrugated Fiberboard Market refers to the industry dedicated to producing corrugated fiberboard, a versatile material widely used in packaging. It comprises multiple layers of paperboard sandwiched together, with a wavy inner layer that provides exceptional strength and durability. This unique structure makes it ideal for a wide range of applications, from shipping boxes to point-of-purchase displays.
Corrugated fiberboard is non-toxic and 100% reusable. It is lightweight and has excellent shock-absorbing capacity. The corrugated fiberboard sheet is made up of paper. Due to such benefits, fiberboard carton packaging is estimated to gain traction in the global market.
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Competitive Landscape
The global corrugated fiberboard market is highly fragmented and competitive with the presence of several local and regional companies. Moreover, key players are focusing on mergers & acquisitions, expansions, collaborations, and partnerships to strengthen their positions in the market. They are also developing new corrugated fiberboards to attract a large consumer base.
Recent Developments:
- In November 2021, Boix Machinery India participated in India Corr Expo to showcase its new products. Further, the company has expanded its production capacity and enhanced the stacking strength of its specialized corrugated boxes for fruit exports to lower the rejection of fruits due to bruising amid shipping.
2. In May 2021, Mondi confirmed that it has completed the acquisition of Olmuksan. This acquisition is going to help Mondi to strengthen its position in the fast-growing corrugated market of Türkiye, as Olmuksan has a diverse customer base and was a key player in the Turkey corrugated packaging industry.
Growth of Corrugated Fiberboard Market
The Corrugated Fiberboard Market has witnessed substantial growth in recent years, driven by several key factors:
1. Sustainability
One of the primary drivers of corrugated fiberboard’s growth is its eco-friendly nature. Consumers are increasingly seeking products with minimal environmental impact, and corrugated fiberboard ticks all the boxes. It is biodegradable, recyclable, and made from renewable resources, making it an attractive choice for environmentally conscious businesses and consumers alike.
2. E-commerce Boom
The rise of e-commerce has led to a surge in demand for sturdy and reliable packaging materials. Corrugated fiberboard, with its excellent strength-to-weight ratio, has become the go-to choice for shipping boxes. Its ability to protect products during transit has made it indispensable in the e-commerce industry.
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Key Market Players:
- Georgia-Pacific
- W.E. Roberts
- Stora Enso
- Nuttall Packaging
- Oji Holdings Corporation
- Corrugated Packaging Alliance
- Fencor Packaging Group Limited
- Durham Box
- ABBE CORRUGATED
- Board24
- Smurfit Kappa
- Mondi
- Jaineeket Enterprises
- Shanghai Lehui Packaging and Printing Co., Ltd.
Key Takeaways: Global Corrugated Fiberboard Market:
1. By flute type, the combination flutes corrugated fiberboard segment is expected to grow 2.1x by the end of 2032.
2. The global corrugated fiberboard market was valued at around US$ 94.1 Billion in 2021.
3. By end use, the e-commerce segment is anticipated to generate a share of nearly 11% in the forecast period and exhibit growth at a CAGR of 8.1% from 2022 to 2032.
4. Top five key players are likely to hold 10-15% of the corrugated fiberboard market share in 2022.
5. Total sales of corrugated fiberboard are estimated to reach US$ 20.9 Billion across North America by 2022.
Segmentation:
By Flute Type:
- Flute A
- Flute B
- Flute C
- Combination Flutes
- Micro Flutes
By Board Type:
- Single Wall
- Double Wall
- Triple Wall
By End Use:
- Food & Beverages
- E-commerce
- Pharmaceuticals
- Cosmetics & Personal Care
- Electrical & Electronics
- Automotive
- Transportation & Logistics
- Textile
By Regions Covered:
- North America
- The United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- The United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- Middle East and Africa
- GCC Countries
- Israel
- South Africa
- The Middle East and Africa (MEA)
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