Corrugated Boxes Market Size, Share, and Trends 2024 to 2033

Corrugated Boxes Market Size and Growth 2024 to 2033

The global corrugated boxes market size was valued at USD 68.35 billion in 2023 and is anticipated to reach around USD 92.30 billion by 2033, growing at a CAGR of 3.05% from 2024 to 2033. The boost of the consumables industry, health care, and personal care products are driving market growth. 

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Corrugated Boxes Market Key Takeaways

• Asia Pacific dominated the market with the largest revenue share of 38% in 2023.
• North America is expected to experience significant expansion in the global market over the projected period.
• By technology, the flexography printing segment has held the major revenue share of 26% in 2023.
• By technology, the digital printing segment is expected to witness the fastest growth over the forecast period.
• By end use, the food & beverage segment has contributed more than 36% of revenue share in 2023.
• By end use, the electronics goods segment is projected to witness rapid growth in the market during the forecast period.

Corrugated Boxes Market Size in the Asia Pacific 2024 to 2033

The Asia Pacific corrugated boxes market size was estimated at USD 25.97 billion in 2023 and is predicted to be worth around USD 35.54 billion by 2033 at a CAGR of 3.18 % from 2024 to 2033.

Asia Pacific dominated the corrugated boxes market in 2023. The market is benefiting from the growing need for high-speed and affordable internet access. Also, the expanding application of the product across various industries like electronics, automotive, home care, and personal care is driving market growth. Furthermore, rapid urbanization in Asia Pacific is fostering the development of modern infrastructure, including logistics networks, warehouses, and transportation systems, which is fueling demand for the product in the region.

• In September 2023, the highly anticipated 10th edition of India Corr Expo & India Folding Carton, organized by RX India, a part of RX Global, is set to be India's premier event in the corrugated packaging & folding carton industry. This event is Scheduled to take place at the India Expo Mart in Greater Noida, Delhi-NCR. This event has consistently been recognized as the most trusted gathering in its field.

North America is expected to experience significant expansion in the global corrugated boxes market over the projected period. Due to the increased demand in the healthcare sector, the corrugated boxes industry in North America is expected to grow at a significant CAGR during the forecast period. The industry has witnessed growth in response to a rise in emergencies and government support for healthcare systems in the United States. Increasing healthcare expenses and consumer awareness further contribute to the promising growth prospects for the corrugated industry.

Corrugated Boxes Market Size in North America 2023 to 2033

The North America corrugated boxes market size was calculated at USD 20.51 billion in 2023 and is projected to expand around USD 28.15 billion by 2033, poised to grow at a CAGR of 3.21% from 2024 to 2033.

Corrugated Boxes Market Overview

Corrugated boxes are a commonly used packaging solution in the shipping and storage sector. They are crafted from corrugated cardboard, a material comprising three layers: two outer flat liner boards and a wavy fluted layer in between. This unique design offers robustness and protection to the boxes, making them ideal for safeguarding delicate items like electronics and glassware during handling and transportation. Their cushioning properties absorb shocks and impacts, minimizing the risk of damage. Additionally, corrugated boxes come in various sizes and shapes, including customized options tailored to specific needs, ensuring efficient use of space and optimal product protection. With the global growth of the personal care and cosmetics industry, the demand for corrugated boxes is expected to rise in the coming years.

Corrugated Boxes Market Growth Factors

• The expanding food and beverage industry can drive the growth of the corrugated boxes market.
• Increasing demand for corrugated boxes for transporting, storing, and promoting products can fuel market growth shortly.
• The benefits of corrugated solutions, such as cost-effectiveness, lightweight, and good protection during logistics, can boost the growth of the corrugated boxes market.
• Rising awareness of environmental issues related to plastic-based packaging materials is escalating the demand for the corrugated boxes market.
• Growing research and development activities to improve sustainable properties are likely to expand the corrugated boxes market in the near future.

Corrugated Boxes Market Scope

Corrugated Boxes Market Dynamics

Driver: Online shopping and the food service industry 

The surge in e-commerce activities and the shift towards online shopping platforms are driving the demand for the corrugated boxes market. Manufacturers can leverage advanced printing techniques to display lifelike images, enhancing brand visibility and product promotion. Moreover, the increasing preference for sustainable packaging materials presents growth opportunities for industry players.

The perception of corrugated boxes as reliable packaging solutions and the rising demand for food and beverage products are boosting sales in both developed and developing nations. Crafted from three layers of cardboard, these boxes offer robust support and safeguard fragile items effectively. Key attributes such as versatility, durability, eco-friendliness, and lightweight nature make them attractive to various industries.

In September 2022, Stora Enso acquired De Jong Packaging Group to increase the production of corrugated packaging. The acquisition, made at an enterprise value of approximately EUR 1,020 million, is also expected to advance Stora Enso’s strategic direction and accelerate revenue growth. The resultant corrugated boxes and trays are set to package products in fresh produce, e-commerce, and industrial packaging.

Restraint: Labor shortages can affect production efficiency and timelines

Rising transportation expenses can drive up product prices or shrink profit margins for businesses, potentially prompting consumers to spend less and alter their purchasing habits. To counterbalance these costs, companies might implement cost-saving measures like compromising product quality or operational efficiency, impacting their competitiveness and customer satisfaction. Labor shortages also disrupt production efficiency and timelines, causing delays and reducing output. This scarcity of skilled workers intensifies competition and may lead to increased wages, driving up production expenses. Consumers may face higher prices or diminished business profitability, which can affect the stability of the corrugated boxes market.

Opportunity: Sustainable packaging solution

Organized retailing, or modern retailing, involves licensed retailers offering a wide range of products under one roof. These products are packaged to maintain freshness and preserve nutritional value. There's a growing demand for eco-friendly packaging materials, which organized retail outlets fulfill using corrugated boxes. Additionally, companies are producing lightweight, high-performance container boxes to cut costs, enhance functionality, and promote sustainability. As a result, the corrugated boxes market is expected to expand significantly in the forecast period.

• In February 2022, Menasha Packaging Company, LLC, a subsidiary of Menasha Corporation, announced the acquisition of Color-Box, a Georgia-Pacific, LLC business unit. Specializing in high-graphic boxes, Color-Box enhances Menasha's geographic footprint and offers expanded graphics, design, and structural packaging options, reinforcing its position in the corrugated boxes market.

Technology Insights

The flexography printing segment dominated the corrugated boxes market in 2023. Flexography printing is a cost-effective option with lower per-unit printing costs and tool expenses compared to other methods. It accommodates both water and oil-based inks, making it versatile for various printing needs. Because of these advantages, flexography printing is widely adopted in the market. Its superior qualities make it an appealing choice over other printing technologies, leading to increased utilization in the market during the forecast period.

In the corrugated boxes market, the digital printing segment is expected to witness the fastest growth over the forecast period. Digital printing was designed to make the graphics, printing process, and product development easier, faster, and more efficient for the corrugated industry. It has found success in areas like samples, mock-ups, displays, and very short production runs, where traditional methods needed improvement.

• In June 2023, Bobst announced a slew of new machines in the printing converting, services, and performance to help converters and brand owners take a big step towards digitalizing the packaging supply chain. The announcement was made during its annual press event hosted at the Bobst Packaging Centre in Lausanne, Switzerland.

End-use Insights

By end use, in 2023, the food & beverage segment dominated the corrugated boxes market. In the food and beverage industry, packaging plays a crucial role in handling, storing, and transporting various products, including non-perishable goods, processed foods, and organic vegetables. Corrugated cardboard boxes are essential for delivering these items, especially perishable goods and fragile items, as they provide reliable protection during shipping and storage. Corrugated boxes are ideal for packaging and storing food for extended periods because they do not react with food substances. Choosing appropriate packaging materials that are visually appealing and convey safety is important, especially for ready-to-eat products, making corrugated boxes a preferred choice for packaging in the food industry.

• In August 2023, SupplyOne, a leading provider of packaging solutions, announced the launch of the 1-2-3 Coffee Box, an innovative product that redefines the standards of beverage take-out packaging. This ground-breaking solution is set to revolutionize the take-out beverage industry by delivering direct and indirect savings and environmental benefits and by elevating the consumer experience.

By end use, the electronics goods segment is projected to witness rapid growth in the corrugated boxes market during the forecast period. As electronic devices evolve with innovative materials and technologies, there's a growing need for more precise and intricate electronic components. This requires enhanced protection against electrostatic, mechanical, and moisture-related damage during packaging and handling. Additionally, various environmental factors such as online shopping trends, logistics, environmental regulations, cultural design preferences, and consumer attitudes have significantly influenced the consumer electronics industry in recent years.

Corrugated Boxes Market Recent Developments

• In November 2023, Fresh Del Monte Produce Inc., one of the world’s leading vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruits and vegetables, is proud to announce a strategic partnership with Arena Packaging, a leading packaging, design, and pooling company in North America, to introduce reusable plastic containers (RPCs) for bananas.
• In July 2022, WestRock Co. agreed to acquire the remaining interest in Grupo Gondi for USD 970 million, plus debt. This move aims to bolster WestRock's presence in the expanding Latin American corrugated boxes market. Grupo Gondi's extensive infrastructure across Mexico enhances WestRock's capacity and competitiveness in the region's packaging markets.
• In May 2022, Mondi announced an investment of EUR 280 million to increase the production of corrugated boards and cardboard. This investment will help to expand capacity and increase efficiency in the Czech Republic, Poland, Germany, and Turkey. Of this investment figure, EUR 185 million will go to the company's network of corrugated solutions plants in Central and Eastern Europe.
• In April 2022, DS Smith, a UK-based sustainable packaging provider, developed and launched a corrugated cardboard box for e-commerce shipments of medical devices. This new corrugated cardboard box features a single-material solution in place of glued packaging with a single-use plastic insert. 

Corrugated Boxes Market Companies

• DS Smith
• Mondi Group
• WestRock
• Smurfit Kappa Group
• International Paper Company
• Pratt Industries
• Stora Enso
• Atlantic Packaging
• Georgia-Pacific Packaging LLC
• Nelson Container Corporation
• Others

Segments Covered in the Report

By Type

• Slotted Boxes
• Telescope Boxes
• Others

By Box Layer

• Single-Phase Corrugated
• Single-Wall Corrugated Box
• Double Wallboard
• Triple Wallboard

By Technology

• Lithography
• Flexo
• Digital Printing
• Rotogravure
• Silkscreen
• Others

By End-use

• Food & Beverages
• Household Products
• Cosmetics
• Healthcare And Pharmaceuticals
• Personal Care
• Shipping And Logistics
• Electronics
• Textile
• E-commerce
• Others

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa