The global corrugated packaging market is expected to grow at a CAGR of 4.6% during the forecast period, to reach $195.9 billion by 2020. The increase in demand for corrugated packaging is anticipated due to rapid industrialization in developing economies, environmental sustainability and cost benefit associated with corrugated packaging.
Corrugated packaging market includes secondary shipping corrugated boxes, primary corrugated boxes, and corrugated retail display stands. These packaging are used for packing non-durable goods, durable goods, food and beverages, non-food and non-manufacturing (wholesale trade, and retail trade services). Processed food is expected to be the largest end-user industry for corrugated packaging, during the forecast period. However, beverages segment is expected to be the most lucrative industry for the corrugated packaging market. The upsurge in demand from beverages segment during 2011 – 2015 is expected to be higher than the overall corrugated packaging industry’s growth. The market share of the applications is likely to remain the same in 2020, as it was in 2014. Only corrugated beverage packaging segment is expected to witness a growth of around 1% to occupy about 13% of the global corrugated packaging market in 2020, as compared to 12% in 2014. The processed food segment is expected to maintain its leadership position in terms of market share, during the forecast period. The high demand of processed food from Asia-Pacific region is the leading driver of the corrugated packaging for processed food.
Geographically, Asia-Pacific is expected to account for more than half share of the total corrugated market, by the end of 2020. The increasing industrial production, along with the extensive use of printed corrugated material for the non-durable and durable consumer goods are propelling the growth of the corrugated packaging market in Asia–Pacific.
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