Growing demand for eco-friendly and sustainable packaging drives the corrugated board category's growth

Corrugated Board Category - Procurement Intelligence

The corrugated board category is expected to grow at a CAGR of 6.8% from 2023 to 2030. APAC region accounts for the largest share of the category. Increasing spending power and growing urbanization are boosting the growth of this category. Companies are constantly developing new technology for efficient production and increased efficiency. Digitalization and technological advancements such as AI, blockchain technology, IoT, and digital printing are shaping the category with innovations.

The Ireland-based company, Smurfit Kappa, is creating a variety of innovative products and introducing them to the market. One of its kind is the launch of multifunction printers that can do both digital printings as well as flexographic and allows printing alongside the packaging material. This has resulted in increased sales and flexibility to alter as per client’s requirements.

Type-C flute segment dominates the market owing to its characteristic property of higher compression and more durable stacking strength than the B type. It is utilized for furniture packaging, glass, and shipping cases. Owing to less utilization of fiber materials, it facilitates high load-bearing capacity.

Companies are continuously focusing on partnering or developing their own technology. For instance,

• In 2022, a Menasha Corporation subsidiary, the Menasha Packaging Company signed a contract to buy the assets of color-box, an L.L.C. business unit from Georgia-Pacific, which manufactures high-graphic boxes. This collaboration will allow them to reach clients with more designs, graphics, and structural packaging options.

• In August 2021, DS Smith, as a part of Blaue Helden’s e-commerce packaging design, developed a 100% recyclable packaging solution for e-commerce. It offers eco-friendly cleaning tabs from Blaue Helden that have a more appealing packaging design with no plastic filling material.

• In March 2021, International Paper acquired two corrugated plants in Spain. This has allowed them to expand operations in Catalonia and Madrid. The company is focused on high-quality packaging solutions for e-commerce, and vegetable & fruit packaging in the EMEA region.

• In February 2021, BCoolBox, a new product of Mondi features a thermo insulation packaging solution to keep fresh foods and produce cold without having any external sources for cooling of items. This has the capacity to keep produce below 7 degrees for about 24 hours of duration.

Category growth is expected to be fueled by the increasing awareness and environmental concerns related to the use of plastic packaging. The utilization of corrugated boards in varied industries like food & beverages, shipping, healthcare, e-commerce, and consumer goods is a key factor driving the growth trend in this category. The rising demand for an innovative corrugated board is attributed to its advantageous features, including high graphics boxes, thermo-insulating packaging, and e-commerce packaging solutions.

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Corrugated Board Sourcing Intelligence Highlights

• There are many small and major competitors operating in various countries, creating a fragmented market for corrugated boards globally. Competition is intense amongst the competitors as they try to take the lead by continuous R&D to develop new technologies, make strategic alliances, and have mergers and acquisitions to increase their consumer base and enhance customer service.

• The suppliers of raw materials in this category such as Kraft paper, corn starch, and steel wires have increased over time, reducing the supplier’s bargaining power to some extent

• Kraft Paper, labor, and cornstarch used for making glue form the most significant cost component in the category. The overall cost also depends on the type of flute used such as A, B, C, E, F, and other types

• Most service providers offer complete services from designing, customization, delivery, and others

Corrugated Board Procurement Intelligence Report Coverage

Grand View Research will cover the following aspects in the report:

• Market Intelligence along with emerging technology and regulatory landscape

• Market estimates and forecasts from 2022 to 2030

• Growth opportunities, trends, and driver analysis

• Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments

• Porter’s 5 forces

• Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis

• Engagement and operating models, KPI, and SLA elements

• LCC/BCC analysis and negotiation strategies

• Peer benchmarking and product analysis

• Market report in PDF, Excel, PPT, and online dashboard versions

Cost Intelligence Highlights

Grand View Research has identified the following key cost components for the corrugated board category:

• Kraft Paper

• Labor

• Corn Starch

• Freight

• Coal

• Steel Wires

• Steel Pins

• Development

• Quality Assurance

• Logistics Cost

• Import Duties

• Fuel Cost

• Type

  • Single Face

  • Single Wall

  • Double Wall

  • Triple Wall

Kraft Paper, labor, and corn starch used for making glue form the largest cost components of the corrugated board category.

List of Key Suppliers in the Corrugated Board Category

• DS Smith

• Smurfit Kappa

• WestRock Company

• Mondi

• Packaging Corporation of America

• Stora Enso

• International Paper

• Georgia-Pacific

• Oji Holdings Corporation

• Port Townsend Paper Company