The corrugated fiberboard market is on a robust growth trajectory, projected to expand significantly from 2023 through 2033. FMI anticipates a steady CAGR of 5.9% over this period, with the market starting at a valuation of USD 105.9 billion in 2023 and expected to reach USD 187.9 billion by 2033. This growth reflects the increasing global demand for corrugated fiberboard across diverse industries, driven by the material’s versatility, durability, and wide range of applications.
Corrugated fiberboard, known for its sturdy structure and multi-layered composition, serves as an essential material in the packaging sector. Featuring multiple layers of paperboard with a fluted inner layer, corrugated fiberboard delivers exceptional strength, making it suitable for a wide array of uses, from shipping boxes to retail point-of-purchase displays.
The material’s structural integrity and resilience have fueled demand across sectors requiring reliable packaging solutions for both transit and display.
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Notably, the demand for combination flute corrugated fiberboard surged in 2021, creating an absolute growth opportunity valued at USD 24.4 billion. This trend highlights the market’s preference for enhanced strength and versatility in fiberboard packaging. FMI’s 2022 report further underscores this demand, noting that the top five industry players collectively held between 10% and 15% of the market share, reflecting a competitive yet growing landscape.
As industries worldwide increasingly prioritize sustainable and durable packaging solutions, corrugated fiberboard remains a critical choice. The projected growth from USD 105.9 billion to USD 187.9 billion by 2033 reinforces its role in meeting these demands while also providing significant opportunities for innovation within the market.
Key Takeaways: Corrugated Fiberboard Market
- The global corrugated fiberboard market grew at a compound annual growth rate (CAGR) of 4.7% between 2018 and 2022.
- Demand for postal and transportation services in the U.S. is propelling market growth, as illustrated by USPS’s delivery of over 7.3 billion packages containing paper-based materials in 2020.
- E-commerce food purchases account for nearly 33% of total food sales across more than 4,000 online platforms in the U.S., contributing to approximately 60% growth in fresh food e-commerce, boosting demand for corrugated packaging.
- The combination flutes segment held 26.2% of the market share in 2022 and is expected to grow at a CAGR of 6.8% from 2023 to 2033.
- E-commerce, a key end-use sector, represented 9.2% of the market in 2022 and is projected to grow at a CAGR of 8.0% from 2023 to 2033.
Competitive Landscape
The global corrugated fiberboard market is extremely fragmented and competitive, with a number of local and regional players. In addition, key firms are focused on mergers and acquisitions, expansions, collaborations, and partnerships to improve their market positions. They are also working on innovative 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.
- 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.
- Stora Enso has introduced its corrugated flat board packaging material that holds smart, circular & sustainable, and high-performing capabilities.
- Nuttall Packaging has introduced the functional packaging option as corrugated packaging with printed boxes, shelf-ready packaging, and durable packaging solutions.
Key Players Working in the Global Market
- 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 Segments Covered
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
- Latin America
- Europe
- Japan
- Asia Pacific Excluding Japan
- Middle East and Africa
About Future Market Insights (FMI)
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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