The global plastic corrugated packaging market size was estimated at USD 16.85 billion in 2023 and is projected to reach around USD 37.81 billion by 2033, poised to grow at a CAGR of 8.46% during the forecast period from 2024 to 2033.
Access our Packaging Data Intelligence Tool with 10000+ Database, Visit: Towards Packaging
The U.S. plastic corrugated packaging market size was valued at USD 3.84 billion in 2023 and is expected to hit USD 8.65 billion by 2033, growing at a CAGR of 8.5% from 2024 to 2033.
North America has held the largest revenue share 38.11% in 2023. In North America, the plastic corrugated packaging market is witnessing several notable trends. There is a growing emphasis on sustainability, with businesses and consumers alike demanding eco-friendly packaging solutions. This has led to increased interest in recyclable and reusable plastic corrugated materials. Additionally, the e-commerce boom has driven the need for robust packaging, further fueling the demand for plastic corrugated packaging solutions. As a result, the North American market is experiencing innovation in terms of design, materials, and customization to meet these evolving trends and cater to the diverse packaging requirements of the region.
Asia-Pacific is estimated to observe the fastest expansion. In Asia Pacific, the plastic corrugated packaging market has witnessed robust growth driven by several key trends. Increasing industrialization, booming e-commerce, and a growing middle-class population have fueled the demand for durable and customized packaging solutions. Moreover, heightened environmental awareness has encouraged the adoption of eco-friendly variants of plastic corrugated materials. Governments in the region are also introducing regulations to promote sustainable packaging practices. Overall, the Asia Pacific plastic corrugated packaging market is characterized by innovation, sustainability, and adaptability to changing consumer preferences, making it a dynamic and evolving segment in the packaging industry.
Plastic corrugated packaging is a versatile and durable material used for various packaging applications. Plastic corrugated packaging is commonly used for transporting goods, especially in industries like agriculture, electronics, and logistics. It is recyclable, making it an environmentally friendly choice compared to traditional corrugated cardboard. Its customizable nature allows for easy branding and design modifications, making it a preferred choice for packaging solutions across various industries.
Companies can invest in research and development to create innovative, eco-friendly variants, tapping into the growing sustainability trend. Collaborations with e-commerce platforms and logistic providers can also yield lucrative partnerships, given the rising demand for e-commerce packaging solutions.
Plastic corrugated packaging is a versatile and robust packaging material, consisting of twin-wall plastic sheets with a fluted layer, offering exceptional protection against moisture, impact, and external factors while remaining lightweight. This environmentally friendly option is commonly used across industries such as agriculture and electronics for its durability and recyclable nature.
In the market, plastic corrugated packaging is experiencing remarkable growth, driven by several factors. Firstly, its durability and resistance to harsh conditions make it ideal for shipping and storage, meeting the increasing demand for secure and long-lasting packaging solutions. Additionally, its customizable design allows for branding and marketing enhancements, attracting businesses looking to differentiate their products.
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 8.46% |
| Market Size in 2023 | USD 16.85 Billion |
| Market Size by 2033 | USD 37.81 Billion |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Packaging Type, By Material, and By End-use Industry |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Driver
Durability and strength offered by packaging
The plastic corrugated packaging market experiences a surge in demand primarily due to its exceptional lightweight, durability, and strength characteristics. These qualities make it an attractive choice for various industries and applications. Plastic corrugated packaging is significantly lighter than alternatives like wooden crates or metal containers. This feature translates to cost savings in transportation, as it reduces fuel consumption and allows for greater cargo capacity. This lightweight nature also eases handling and reduces the risk of worker injuries during packaging processes.
The remarkable durability of plastic corrugated packaging ensures the safe and secure transport of goods. It can withstand rough handling, impacts, and adverse weather conditions, reducing the risk of damage to the packaged items. As a result, businesses can minimize losses associated with damaged products and strengthen their reputation for quality and reliability. Plastic corrugated packaging's inherent strength provides excellent protection to the contents.
This is particularly crucial for fragile or valuable items during transit, reducing the need for additional protective measures and reducing overall packaging costs. In essence, the combination of lightweight, durability, and strength in plastic corrugated packaging not only enhances product safety and transportation efficiency but also aligns with the broader trends of cost-effectiveness and sustainability in the packaging industry. Consequently, these qualities drive a substantial increase in market demand as businesses seek reliable and efficient packaging solutions.
Restraint
Environmental concerns and competing materials
Environmental concerns have emerged as a significant restraint on the plastic corrugated packaging market. Plastic corrugated packaging, although recyclable, is still part of the broader issue of plastic waste. Consumers and regulatory bodies are pushing for more sustainable packaging solutions, and this has put pressure on the plastic corrugated packaging market to address its environmental impact. Moreover, the plastic corrugated packaging market faces competition from alternative materials, such as cardboard, paperboard, and sustainable packaging options.
Cardboard and paperboard are renewable and biodegradable materials, making them more environmentally friendly choices. As sustainability becomes a driving factor in purchasing decisions, many businesses are shifting towards these materials to meet consumer demands and reduce their carbon footprint. Furthermore, emerging eco-friendly packaging materials like bioplastics, molded pulp, and reusable containers offer sustainable alternatives to plastic corrugated packaging.
This competition compels the plastic corrugated packaging industry to innovate and develop eco-conscious solutions to remain relevant in an evolving market landscape. To overcome these restraints, the plastic corrugated packaging industry must focus on sustainability, recycling initiatives, and educating consumers about the recyclability of their products to maintain market demand in an environmentally conscious world.
Opportunity
Sustainability initiatives and collaborations with e-commerce platforms
Sustainability has emerged as a powerful catalyst within the packaging industry, and plastic corrugated packaging is actively embracing this trend. Companies are progressively embracing sustainability-driven strategies to diminish their ecological footprint, and plastic corrugated packaging seamlessly integrates with these endeavors. Its recyclability and eco-friendly characteristics make it an attractive choice for businesses striving to meet sustainability targets. As more consumers and regulatory bodies emphasize eco-consciousness, the demand for sustainable packaging options like plastic corrugated materials continues to surge. Moreover, the booming e-commerce industry heavily relies on effective packaging solutions to protect products during transit. Plastic corrugated packaging, with its durability and customization capabilities, meets the stringent requirements of e-commerce companies.
Collaborations between plastic corrugated packaging manufacturers and e-commerce platforms have emerged as a significant driver of market demand. E-commerce giants recognize the importance of secure and branded packaging to enhance the customer experience. This partnership not only bolsters the demand for plastic corrugated packaging but also opens up opportunities for innovation in design and materials to cater to the specific needs of the e-commerce sector. As online shopping continues to grow, so does the demand for reliable and sustainable packaging solutions, making these collaborations pivotal in driving market expansion.
Impacts of COVID-19
The COVID-19 pandemic had a multifaceted impact on the plastic corrugated packaging market. Initially, there was a surge in demand as industries like healthcare and e-commerce required reliable and sanitary packaging solutions for the safe transportation of medical supplies, groceries, and online orders. Plastic corrugated materials, known for their durability and protective qualities, met this demand effectively.
However, the pandemic also brought forth challenges. Disruptions in the supply chain, including the availability of raw materials and labor shortages, temporarily impacted production capabilities. Moreover, the increased use of single-use plastics, driven by hygiene concerns, raised questions about environmental sustainability, potentially affecting the image of plastic corrugated packaging. The market adapted by emphasizing the recyclability of plastic corrugated materials and promoting eco-friendly alternatives. As businesses navigated the pandemic's uncertainties, the resilience and versatility of plastic corrugated packaging continued to make it a valuable choice in addressing evolving packaging needs across various industries.
According to the packaging type, the folding boxes segment has held a 27% revenue share in 2023. Folding boxes in the plastic corrugated packaging market refer to versatile containers with hinged or folding lids, providing a compact and easily customizable packaging solution. A notable trend is the increasing demand for sustainable folding box designs, aligning with eco-friendly packaging goals.
These boxes are favored for their recyclability and ability to reduce waste. Additionally, manufacturers are developing innovative folding box designs with enhanced structural integrity to cater to industries requiring robust packaging solutions, driving the adoption of plastic corrugated folding boxes across various sectors.
The trays segment is anticipated to expand at a significant CAGR of 9.8% during the projected period Trays in the plastic corrugated packaging market refer to flat, often rectangular, containers with raised edges used to hold and protect products during shipping or display. In recent trends, plastic corrugated trays have gained popularity due to their lightweight yet robust nature. They offer excellent customization options for various industries, particularly in food, electronics, and pharmaceuticals. As sustainability remains a key focus, these trays are increasingly being designed with eco-friendly materials, addressing environmental concerns while maintaining their protective and versatile characteristics.
Based on the material, the Polyethylene Terephthalate (PET) segment held the largest market share of 29% in 2023. Polyethylene Terephthalate (PET) is a widely used thermoplastic polymer known for its clarity, strength, and recyclability. In the plastic corrugated packaging market, PET is gaining prominence due to its lightweight yet robust nature, making it suitable for protective and sustainable packaging solutions. Its transparency enhances product visibility and branding opportunities. Additionally, the growing emphasis on environmental sustainability has driven the demand for PET, as it is a recyclable material. This trend reflects the industry's commitment to eco-friendly packaging options, aligning with consumer and regulatory demands.
On the other hand, the Polypropylene (PP) segment is projected to grow at the fastest rate over the projected period. Polypropylene (PP) is a versatile thermoplastic polymer commonly used in plastic corrugated packaging. It offers excellent durability, moisture resistance, and lightweight characteristics. In the plastic corrugated packaging market, the trend toward using PP has grown due to its recyclability and sustainability features.
PP corrugated packaging is gaining popularity as it aligns with eco-friendly packaging initiatives. Its customizable design, cost-effectiveness, and ability to withstand various environmental conditions make it an ideal choice for businesses seeking reliable and environmentally responsible packaging solutions.
In 2023, the food and beverages segment had the highest market share of 57% on the basis of the installation. In the plastic corrugated packaging market, the food and beverage sector encompasses packaging solutions designed specifically for the storage and transportation of food products and beverages. Recent trends in this segment include the adoption of sustainable, food-grade corrugated materials to address environmental concerns. Additionally, there's a growing demand for customized, branded packaging to enhance product visibility and consumer appeal. Food safety regulations also drive innovation, with a focus on designs that maintain product freshness and hygiene.
Overall, the food and beverage industry continues to rely on plastic corrugated packaging to ensure product integrity and meet evolving consumer preferences for sustainable, safe, and attractive packaging solutions.
Electrical electronics (EE) segment is anticipated to expand at the fastest rate over the projected period. Electrical electronics (EE) refers to the industry encompassing the manufacturing and distribution of electronic components and devices. In the plastic corrugated packaging market, the EE sector employs corrugated plastic materials to protect sensitive electronic equipment during shipping and storage.
A notable trend is the increased demand for anti-static and ESD (Electrostatic Discharge) protective corrugated packaging to safeguard delicate electronic components. Additionally, the adoption of eco-friendly corrugated plastics in this sector is rising, aligning with sustainability goals. EE manufacturers are increasingly opting for customized, recyclable plastic corrugated solutions to ensure product safety while minimizing environmental impact.
Segments Covered in the Report
By Packaging Type
By Material
By End-use Industry
By Geography
PROCEED TO BUY :
ASK FOR SAMPLE
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client
