High Impact Corrugated Boxes Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
High Impact Corrugated Boxes Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
High Impact Corrugated Boxes Market is segmented By Product (Slotted Box, Folder Box, Telescope Box, Die Cut Box), By Board (Single Face Board, Single Wall Board, Double Wall Board, Triple Wall Board), By End Use (Food & Beverage, Electrical & Electronics, Homecare, Automotive & Allied Industries, Healthcare, Personal Care & Cosmetics, Other Industries), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa). The report offers the value (in USD Billion) for the above-mentioned segments.
High Impact Corrugated Boxes Market is segmented By Product (Slotted Box, Folder Box, Telescope Box,...
High Impact Corrugated Boxes Market Size - Analysis
The high impact corrugated boxes market is estimated to be valued at USD 73.2 Bn in 2024 and is expected to reach USD 90.15 Bn by 2031, growing at a compound annual growth rate (CAGR) of 3% from 2024 to 2031. The market is expected to witness steady growth owing to increasing demand from industries such as food and beverages, personal care, healthcare, and retail.
Market Size in USD Bn
CAGR3%
Study Period
2024 - 2031
Base Year of Estimation
2023
CAGR
3%
Market Concentration
High
Major Players
International Paper Company, WestRock Company, Smurfit Kappa Group, Mondi Group, DS Smith and Among Others
*Disclaimer: Major players are listed in no particular order.
*Source: Coherent Market Insights
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High Impact Corrugated Boxes Market Trends
Market Driver - Rising Demand for High Impact Corrugated Boxes on E-commerce
The growing popularity of online shopping and e-commerce platforms across the globe has created a massive demand for durable packaging solutions. High impact corrugated boxes have emerged as the preferred choice for packaging and shipping various products through online channels.
Rise of global online retail giants and increasing transparency in delivery has made customers more demanding about packaging experience. They expect their purchases to reach intact without any damages or inconveniences. This pushes e-commerce companies to rely on robust, yet cost-effective corrugated packaging solutions. Their preference for sustainable products also benefits corrugated which can be recycled multiple times.
With online shopping projected to grow exponentially worldwide, the demand for rigid, high impact corrugated boxes is poised to increase substantially in the coming years. This will eventually drive growth of the high impact corrugated boxes market.
Market Driver - Increasing Preference for Sustainable Packaging Solutions
Transportation and logistics networks worldwide produce massive amounts of plastic and paper waste every year. This has brought sustainability to the forefront as a major consideration for packaging purchases. Companies in the high impact corrugated boxes market increasingly recognize their responsibility to use environment-friendly options. Among various materials available, corrugated stands out as one of the most sustainable choices for packaging.
Furthermore, high impact corrugated boxes have a high recycling rate with over 85% of them being reused or recycled after use. The paper fibers can be broken down and remolded repeatedly into new corrugated sheets with minimal quality degradation. This circular life cycle of corrugated reduces landfill waste and carbon footprint.
High impact corrugated boxes provide all the protection and durability expected from packaging with fully sustainable and recyclable composition. Their long shelf-life ensures maximum uses before disposal or recycling. This has augmented the boxes’ appeal as an eco-friendly substitute for other materials across industries, driving growth of the high impact corrugated boxes market.
Market Challenge - Fluctuating Raw Material Costs, Making Production More Expensive
Prices of raw materials used for manufacturing corrugated boxes such as linerboard, containerboard, and kraft paper are determined by the fluctuations in wood pulp and virgin fiber costs. These raw materials heavily rely on wood pulp produced from softwood and hardwood trees, creating a hurdle for players in the high impact corrugated boxes market.
The costs of wood pulp are dependent on various environmental and economic factors such as timber harvesting costs, demand and supply forces, freight rates, and currency exchange rates. As witnessed over the past couple of years, changes in these factors have led to significant volatility in wood pulp costs across different regions.
Additionally, the prices of virgin fibers used for manufacturing liner and containerboard are also influenced by crude oil rates as these are produced from petroleum-based resources. It also affects manufacturers’ capability to offer competitive prices to brand owners without compromising margins. This volatility in input costs tends to reduce the profitability of corrugated box suppliers, posing a big challenge in the high impact corrugated boxes market.
Market Opportunity - Expanding Demand for Eco-Friendly, Recyclable, and Biodegradable Corrugated Boxes
There is growing consumer awareness about environmental protection and sustainability across the globe. Corrugated boxes have a distinctive advantage as they can be recycled and also break down completely when discarded. Their renewable and sustainable nature forms a strong value proposition for brands targeting environmentally-conscious customers.
Manufacturers in the high impact corrugated boxes market are innovating new product lines created from recycled content or biodegradable materials. They are promoting properties like recyclability, reuse, and compostability of high impact corrugated boxes. Offerings compatible with the circular economy principles are enabling players in the high impact corrugated boxes market to strengthen their positions and improve sales revenues.
Key winning strategies adopted by key players of High Impact Corrugated Boxes Market
Focus on sustainable packaging solutions: Leading players in the high impact corrugated boxes market like DS Smith and International Paper have focused on developing more sustainable high impact corrugated box solutions made from recycled content. For example, in 2018 DS Smith launched EcoVadis, a recyclable and compostable corrugated box range made from renewable materials.
Innovation in design and technology: Major players in the high impact corrugated boxes market continuously invest in R&D to develop innovative box designs catering to dynamic customer needs. For instance, in 2020 Mondi launched the Performance Flex range featuring fully recyclable and moisture-resistant boxes using wax and biopolymer coating.
Strategic acquisitions and partnerships: Companies pursue strategic acquisitions and partnerships to expand offerings and geographical footprint. For example, in 2021 Smurfit Kappa acquired Cartonbox, strengthening its e-commerce capabilities in Europe.
Focus on customer engagement: Leading companies invest heavily in customer engagement initiatives to strengthen relationships. For example, Packaging Corporation of America launched The PCA Institute in 2017, a learning platform providing packaging knowledge and training to customers.
Segmental Analysis of High Impact Corrugated Boxes Market
Insights, By Product: Slotted Box Remain High in Demand due toits flexibility and reusability
In terms of product, the slotted box segment is expected to account for 45.3% share to the high impact corrugated boxes market in 2024. Slotted boxes offer maximum flexibility and convenience to both manufacturers and customers. Their open and adjustable design allows easy loading and unloading of loosely packed products of variable shapes and sizes. This flexibility enables manufacturers to efficiently package a wide variety of SKUs using the same box design.
Additionally, slotted boxes are highly reusable - they can be assembled, broken down, and reassembled multiple times for return shipments. This drastically reduces packaging costs for manufacturers compared to one-time use corrugated boxes. Slotted boxes also provide protection against damage during shipping as their open structure allows cushioning and bracing of delicate products.
Overall, the versatility and cost benefits of slotted boxes make them the ideal choice for manufacturers across industries, driving their widespread use.
Insights, By Board: Single Face Board Enjoys High Preference Owing to its Cost Effectiveness
In terms of board, the single face board segment is projected to account for 35.2% share to the high impact corrugated boxes market in 2024. Single face boards offer a very cost-effective packaging solution compared to other types of boards. Being the most basic grade of corrugated board, single face boards have one smooth corrugated liner and one rough corrugated medium layer. Their simple structure makes them inexpensive to manufacture.
For manufacturers focused on affordability above all, single face boards provide an economical yet sturdy packaging material. Their cost advantages are further enhanced by their recycling properties. Single face board-based boxes are easily broken down after use, facilitating recycling and lowering manufacturing costs. This outstanding cost performance of single face boards has ensured their popularity across industries over the years.
Insights, By End Use: Food & Beverage Sector's Specific Needs Drive its Prominence in End Use Segment
In terms of end use, the food & beverage segment contributes the highest share to the high impact corrugated boxes market. This segment demands packaging that can protect products from damages and possible contamination during transit and storage.
High impact corrugated boxes perfectly satisfy these requirements. Their wall construction involving several corrugated layers provides durability and rigidity to withstand numerous environmental and logistical stresses. Likewise, their moisture, water and grease resistance safeguards food and beverage contents.
Furthermore, manufacturers prefer corrugated for its breathability which is critical for ventilating perishable loads. Thus, high impact corrugated boxes emerge as the ideal solution for the critical packaging demands of the food and beverage industry.
Additional Insights of High Impact Corrugated Boxes Market
The Asia-Pacific region is the largest region in high impact corrugated boxes market, driven by the e-commerce boom in countries like India, China, and Japan.
North America is projected to grow at the fastest rate due to urbanization and increasing demand for eco-friendly packaging solutions.
McDonald’s and EDF collaboration in September 2023 reduced waste by 30% through the recycling of corrugated boxes and the elimination of polystyrene clamshells.
Competitive overview of High Impact Corrugated Boxes Market
The major players operating in the high impact corrugated boxes market include International Paper Company, WestRock Company, Smurfit Kappa Group, Mondi Group, DS Smith, Georgia-Pacific LLC, Oji Holdings Corporation, Packaging Corporation of America (PCA), and Rengo Co., Ltd.
High Impact Corrugated Boxes Market Leaders
International Paper Company
WestRock Company
Smurfit Kappa Group
Mondi Group
DS Smith
*Disclaimer: Major players are listed in no particular order.
High Impact Corrugated Boxes Market - Competitive Rivalry
High Impact Corrugated Boxes Market
Market Consolidated (Dominated by major players)
Market Fragmented (Highly competitive with lots of players.)
*Source: Coherent Market Insights
Recent Developments in High Impact Corrugated Boxes Market
In March 2024, Sealed Air Corporation (SEE) introduced a new paper-based bottom web designed to reduce plastic usage in food packaging. This innovative product, branded as CRYOVAC Barrier Formable Paper, is composed of 90% FSC-certified fibers and is said to achieve a 77% reduction in plastic compared to traditional PET/PE bottom webs.
In February 2024, Canon launched its GP Series of large-format inkjet printers, which feature eco-friendly cardboard packaging instead of the traditional Styrofoam. This change significantly reduces the use of polystyrene foam packing materials by 89.5%, which aligns with Canon's commitment to environmental sustainability.
In January 2024, Yonex Co., Ltd. launched new eco-friendly shoe boxes made from 100% recycled materials. This initiative includes a redesign that reduces the weight of the materials by 20%. Additionally, Yonex has made other sustainability-focused changes, such as integrating instruction manuals into shoe tags to further conserve paper and switching plastic fasteners on tags to natural cotton.
In November 2023, Yara launched packaging made with at least 30% recycled plastic across Europe as part of its sustainability initiative. This move aims to significantly reduce the use of virgin plastic by approximately 3,000 tons annually, leading to a reduction of about 6,000 tons of CO2 emissions.
In August 2023, ICPMA collaborated with Futurex Trade Fair & Events to announce Corru Pack Print India 2024. It aims to bring together various players from the corrugated packaging machinery industry to showcase their latest technologies and innovations.
High Impact Corrugated Boxes Market Report - Table of Contents
RESEARCH OBJECTIVES AND ASSUMPTIONS
Research Objectives
Assumptions
Abbreviations
MARKET PURVIEW
Report Description
Market Definition and Scope
Executive Summary
High Impact Corrugated Boxes Market, By Product
High Impact Corrugated Boxes Market, By Board
High Impact Corrugated Boxes Market, By End Use
Coherent Opportunity Map (COM)
MARKET DYNAMICS, REGULATIONS, AND TRENDS ANALYSIS
Market Dynamics
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER’s Analysis
Merger and Acquisition Scenario
Global High Impact Corrugated Boxes Market, By Product, 2024-2031, (USD Bn)
Introduction
Market Share Analysis, 2024 and 2031 (%)
Y-o-Y Growth Analysis, 2019 - 2031
Segment Trends
Slotted Box
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Folder Box
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Telescope Box
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Die Cut Box
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Global High Impact Corrugated Boxes Market, By Board, 2024-2031, (USD Bn)
Introduction
Market Share Analysis, 2024 and 2031 (%)
Y-o-Y Growth Analysis, 2019 - 2031
Segment Trends
Single Face Board
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Single Wall Board
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Double Wall Board
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Triple Wall Board
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Global High Impact Corrugated Boxes Market, By End Use, 2024-2031, (USD Bn)
Introduction
Market Share Analysis, 2024 and 2031 (%)
Y-o-Y Growth Analysis, 2019 - 2031
Segment Trends
Food & Beverage
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Electrical & Electronics
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Homecare
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Automotive & Allied Industries
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Healthcare
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Personal Care & Cosmetics
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Other Industries
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
Global High Impact Corrugated Boxes Market, By Region, 2019 - 2031, Value (USD Bn)
Introduction
Market Share (%) Analysis, 2024,2027 & 2031, Value (USD Bn)
Market Size and Forecast, By Product, 2019 - 2031, Value (USD Bn)
Market Size and Forecast, By Board, 2019 - 2031, Value (USD Bn)
Market Size and Forecast, By End Use, 2019 - 2031, Value (USD Bn)
U.S.
Canada
Latin America
Introduction
Market Size and Forecast, By Product, 2019 - 2031, Value (USD Bn)
Market Size and Forecast, By Board, 2019 - 2031, Value (USD Bn)
Market Size and Forecast, By End Use, 2019 - 2031, Value (USD Bn)
Brazil
Argentina
Mexico
Rest of Latin America
Europe
Introduction
Market Size and Forecast, By Product, 2019 - 2031, Value (USD Bn)
Market Size and Forecast, By Board, 2019 - 2031, Value (USD Bn)
Market Size and Forecast, By End Use, 2019 - 2031, Value (USD Bn)
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
Introduction
Market Size and Forecast, By Product, 2019 - 2031, Value (USD Bn)
Market Size and Forecast, By Board, 2019 - 2031, Value (USD Bn)
Market Size and Forecast, By End Use, 2019 - 2031, Value (USD Bn)
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
Introduction
Market Size and Forecast, By Product, 2019 - 2031, Value (USD Bn)
Market Size and Forecast, By Board, 2019 - 2031, Value (USD Bn)
Market Size and Forecast, By End Use, 2019 - 2031, Value (USD Bn)
GCC Countries
Israel
Rest of Middle East
Africa
Introduction
Market Size and Forecast, By Product, 2019 - 2031, Value (USD Bn)
Market Size and Forecast, By Board, 2019 - 2031, Value (USD Bn)
Market Size and Forecast, By End Use, 2019 - 2031, Value (USD Bn)
South Africa
North Africa
Central Africa
COMPETITIVE LANDSCAPE
International Paper Company
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
WestRock Company
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Smurfit Kappa Group
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Mondi Group
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
DS Smith
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Georgia-Pacific LLC
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Oji Holdings Corporation
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Packaging Corporation of America (PCA)
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Rengo Co., Ltd.
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Analyst Recommendations
Wheel of Fortune
Analyst View
Coherent Opportunity Map
References and Research Methodology
References
Research Methodology
About us
High Impact Corrugated Boxes Market Segmentation
By Product
Slotted Box
Folder Box
Telescope Box
Die Cut Box
By Board
Single Face Board
Single Wall Board
Double Wall Board
Triple Wall Board
By End Use
Food & Beverage
Electrical & Electronics
Homecare
Automotive & Allied Industries
Healthcare
Personal Care & Cosmetics
Other Industries
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About author
Shivam Bhutani has 6 years of experience in market research and strategy consulting. He is a Market Research Consultant with strong analytical background. He is currently an MBA candidate specializing in Business Analytics from BITS Pilani.
He is adept at navigating diverse roles from sales and marketing to research and strategy consulting. He excels in market estimation, competitive intelligence, pricing strategy, and primary research. He is skilled at analysing large datasets to provide precise insights, helping clients in achieving strategic transformation across various industries. He is skilled in leveraging data visualization techniques to drive innovation and enhance business processes.
Frequently Asked Questions :
How big is the high impact corrugated boxes market?
The high impact corrugated boxes market is estimated to be valued at USD 73.2 Bn in 2024 and is expected to reach USD 90.15 Bn by 2031.
What are the key factors hampering the growth of the high impact corrugated boxes market?
Fluctuating raw material costs, making production more expensive and strict environmental regulations in packaging production are the major factors hampering the growth of the high impact corrugated boxes market.
What are the major factors driving the high impact corrugated boxes market growth?
Rising demand for high impact corrugated boxes on e-commerce and increasing preference for sustainable packaging solutions are the major factors driving the high impact corrugated boxes market.
Which is the leading product in the high impact corrugated boxes market?
The leading product segment is slotted box.
Which are the major players operating in the high impact corrugated boxes market?
International Paper Company, WestRock Company, Smurfit Kappa Group, Mondi Group, DS Smith, Georgia-Pacific LLC, Oji Holdings Corporation, Packaging Corporation of America (PCA), and Rengo Co., Ltd. are the major players.
What will be the CAGR of the high impact corrugated boxes market?
The CAGR of the high impact corrugated boxes market is projected to be 3% from 2024-2031.
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