Market Segmentation
Corrugated board packaging has always been one of the most predominant packaging products used in e-commerce logistics. The packaging is used to transport all kinds of products from manufacturer to distribution center to wholesaler and retailer. The companies which have been primarily reliant on plastic packaging in e-commerce are now adopting corrugated board packaging to comply with regulations across countries. Corrugated boards are recyclable in nature and are mostly manufactured using by-products or waste materials, which has made them an environmentally-friendly choice in comparison to plastic packaging. The expansion of e-commerce sector is the most important retail trend that has fueled the growth of the market in the past few years. E-commerce retail companies are increasingly replacing most of the materials with corrugated packaging to promote their brands in terms of sustainability. For instance, numerous e-commerce retailers have replaced plastic bubble wraps with corrugated board rolls to offer protection to packaging, therefore increasing the utilization of corrugated boards in the overall packaging of a product. Therefore, the expansion of e-commerce is expected to propel the growth of the corrugated board market.
Plastic is one of the majorly used materials for packaging in various industries including food & beverage, healthcare, cosmetics & personal care, and consumer goods. However, plastic is a non-biodegradable, unsustainable material, and can have an adverse impact on the life of humans as well as animals. In addition, the recycling rate of plastic waste products is low as compared to the consumption rate, which ultimately pollutes land, ocean, and drinking water. According to the UN, 300 million tons of plastic waste is generated every year globally, which is nearly equivalent to the weight of the global human population. To curb this humongous amount of plastic waste generated annually, many regulatory bodies and governments around the world have imposed restrictions on the generation of primary plastic waste over the years. For instance, several cities, states, and countries have voted to ban a range of single-use plastics to curb plastic pollution, which is projected to have a positive impact on the growth of corrugated board market.
In addition, a number of states and countries have imposed a ban on single-use plastic products such as bags, plates, and utensils, whereas several other cities are anticipated to follow the same trend in the coming years owing to the rising concerns pertaining to plastic waste. Moreover, several retail chains and foodservice operators have set targets for phasing out plastic packaging products completely or partially. Furthermore, an increasing number of foodservice operators and retail chains are projected to switch from plastic packaging to corrugated board in order to cater to the growing consumer-driven demand for sustainable packaging. Thus, the aforementioned factors are anticipated to drive the demand for corrugated board over the forecast period.
Although corrugated board is a sustainable material for manufacturing packaging solutions, it can be substituted by other sustainable alternatives such as rigid bioplastics as these offer superior properties such as aesthetic appeal and moisture barrier among others as compared to corrugated boards. Bioplastics are derived from renewable sources such as cellulose, starch, vegetable fats, and vegetable oils among others. Bioplastics may or may not be biodegradable and can be bio-based or fossil-based. The lack of durability results in several other drawbacks for corrugated boards where the product may not be suitable for extremely heavy items. In case of heavy product packaging, if insufficient padding is or wrong carton is used, the packaging may not be effective. The corrugated boards are also prone to crumbling under pressure. Despite its strength, corrugated board can be damaged, dented, and crushed if not handled properly. Corrugated boards also cannot stand weather conditions such as snow or rain, and therefore have to be protected using extra packaging. Therefore, factors including the availability of alternatives and lower durability of corrugated board are likely to limit its consumption.
This section will provide insights into the contents included in this corrugated board market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
Company overview
Financial performance
Product benchmarking
Latest strategic developments
Market size, estimates, and forecast from 2017 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance