Corrugated Board Market To Be Valued At $149.7 Billion By 2028, Increased Adoption Of Eco-friendly Packaging Solutions To Drive Growth AT 6.5% CAGR | Grand View Research, Inc.

Key Insights & Findings: Key Insights & Findings: Access 127 page market research report, " Corrugated Board Market Size, Share & Trends Analysis Report By Flute Type (A, B, C, E, F), By Board Style (Single Face, Single Wall, Double Wall, Triple Wall), By Region ( Europe, APAC,North America ), And Segment Forecasts, 2021 – 2028 ", By Grand View Research. Boxes made up of corrugated boards provide cost-effective and sustainable transportation of the goods, which drives...

Key Insights & Findings:

Access 127 page market research report, "Corrugated Board Market Size, Share & Trends Analysis Report By Flute Type (A, B, C, E, F), By Board Style (Single Face, Single Wall, Double Wall, Triple Wall), By Region (Europe, APAC, North America), And Segment Forecasts, 2021 – 2028", By Grand View Research.

Boxes made up of corrugated boards provide cost-effective and sustainable transportation of the goods, which drives their demand in the packaging industry. The lower weight of single-wall style boards is expected to drive the market. Lowering the packaging weight further reduces the space required for storage, eventually reducing the overall shipping cost of the products. Therefore, the single wall board style is likely to witness the fastest CAGR in the forecast period.

"Corrugated board packaging witnessed a surge in demand during the COVID-19 pandemic due to stockpiling of essential goods by consumers."

The corrugated boards are deemed safe for packaging various goods and increasing their shelf life by protecting them from environmental conditions, such as temperature changes and external pressure. Therefore, paper-based packaging is being adopted in multiple end-use industries, such as food & beverages, pharmaceuticals, cosmetics, electronics, and others. The growing food service and FMCG markets globally are also among the key factors driving the product demand.

The market in Europe is expected to hold a market share of over 29% by 2028 due to a growing demand for the packaging of products like fresh food and personal care. Stockpiling of such essential products during the COVID-19 pandemic in 2020 further led to a surge in demand for packaging products. The spike in demand resulted in a gap between the supply of raw materials, such as Old Corrugated Containers (OCC), and the distribution of finished products.

Asia Pacific is expected to be the fastest-growing regional market for corrugated boards, from 2021 to 2028 due to supportive government initiatives that promote the usage of paper packaging solutions. Foreign Direct Investments (FDIs), as well as investments in the number of projects in the packaging in Asian countries, are likely to grow at a rapid pace fueling the market growth.

For instance, the report, 'Global Forest Products Facts And Figures 2018' of the Food and Agriculture Organization of the United Nations, states that China is one of the largest paper and paperboard producers globally accounting for 104 million tonnes of production in 2018. Therefore, increasing paperboard demand with rising production capacity would favor the growth of the market growth in the region.

Grand View Research has segmented the global corrugated board market based on flute type, board style, and region:

List of Key Players of Corrugated Board Market

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