According to the latest report published by Variant Market Research, the global corrugated packaging market size is projected to reach $218 million by 2024 from $158 million in 2016. In this report, corrugated packaging market forecast says that the global market is growing at 4.1% CAGR from 2016 to 2024.
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High demand of corrugated packaging to fuel the global market
The global corrugated packaging market trend comprises high implementation in end-user industries like medicines, petroleum, consumer durables, and food, and high demand of corrugated packaging, due to organized retailing & growing manufacturing sector. However, low durability of corrugated packaging might limit the corrugated packaging market growth. Furthermore, growing demand for consumer products with increasing population would offer an opportunity for players of market.
The global corrugated packaging market is classified into application, and geography. Source type segment includes processed food, fresh food and produce, beverages, personal and household care, chemicals, paper products, electrical and electronic goods, glassware and ceramics, tobacco, and other applications. North America (U.S., Mexico, and Canada), Europe (France, Italy, Spain, Germany, UK, and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in this market.
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Processed food, by application dominated the global market in 2016
In 2016, processed food in the application dominated the global corrugated packaging market with maximum market share and expected to continue its dominance over the forecast period, 2016 – 2024. The growth of this segment is driven byincreased adoption of processed food among consumers around the globe.
Asia-Pacific was the leading region of the global market in 2016
Asia-Pacific held major market share of 49.9% in 2016 and anticipated to continue its dominance over the forecast period, 2016– 2024, due tothe increasing industrial production along with changing consumer lifestyle in this region(including Australia and Philippines).
Key players are offering innovative products and services to increase their corrugated packaging market share. Major players of the market are U.S Corrugated, Inc., DS Smith Plc, Smurfit Kappa Group Plc, Nine Dragons Paper Limited, Mondi Group, Georgia-Pacific LLC, Rock Tenn Company, Sravan Corrugaters Private Limited, NEFAB Group, and Rengo Co., Ltd., among others.
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Scope of the Global Corrugated Packaging Market
• Processed Food
• Fresh Food and Produce
• Personal and Household Care
• Paper Products
• Electrical and Electronic Goods
• Glassware and Ceramics
• Other Applications
• North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o South America
o Middle East
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfil clients’ objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise is data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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