December 17, 2024 07:23 ET | Source: Research and Markets Research and Markets
Dublin, Dec. 17, 2024 (GLOBE NEWSWIRE) -- The "Corrugated Board Packaging - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering. The global market for Corrugated Board Packaging was estimated at US$4.4 Billion in 2023 and is projected to reach US$5.5 Billion by 2030, growing at a CAGR of 3.4% from 2023 to 2030. The growth in the corrugated board packaging market is driven by several key factors, including the booming e-commerce sector, the rising demand for sustainable packaging solutions, and the increasing use of lightweight and customizable packaging across industries. One of the primary drivers of market growth is the exponential rise of e-commerce and online retail. As more consumers shift toward online shopping, businesses need reliable packaging that can withstand the rigors of shipping while protecting products from damage. Corrugated board packaging meets this need with its strength, lightweight nature, and cost-effectiveness. The rise of direct-to-consumer brands and subscription box services has further fueled demand for corrugated packaging, as companies look for durable and aesthetically pleasing packaging solutions that also serve as marketing tools through branded designs. Another significant driver is the growing focus on sustainability in the packaging industry. Consumers and businesses are increasingly prioritizing environmentally friendly packaging solutions that reduce waste and minimize carbon footprints. Corrugated board packaging, being made from renewable materials and highly recyclable, fits perfectly into the sustainability agenda. Its biodegradability and the ability to be reused or recycled multiple times make it an attractive option for companies looking to meet corporate social responsibility (CSR) goals and comply with regulatory requirements related to packaging waste. The push for reducing single-use plastics has also accelerated the adoption of corrugated board packaging as a sustainable alternative in sectors like food delivery, retail, and electronics. Customization and branding are also major factors driving the demand for corrugated board packaging. In competitive markets, packaging is increasingly seen as an extension of the brand, and businesses are leveraging corrugated packaging to create unique unboxing experiences and reinforce their brand identity. The flexibility of corrugated board allows companies to customize packaging sizes, shapes, and designs to suit specific product needs and marketing campaigns. This is particularly important in industries such as cosmetics, electronics, and luxury goods, where packaging plays a crucial role in consumer perception. The rise of digital printing and advancements in material customization are making it easier for companies to create visually appealing, branded packaging that stands out on the shelf or in a consumer's home. Additionally, the growing use of corrugated board packaging in the food and beverage industry is supporting market expansion. transparent pp sheet
Some of the 42 companies featured in this Global Corrugated Board Packaging market report include:
Key Topics Covered: 1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS 3. MARKET TRENDS & DRIVERS
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