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Corrugated Board Market Size, Share & Trends Analysis Report By Flute Type, By Board Style, By Region And Segment Forecasts, 2023 - 2030
Corrugated Board Market Size, Share & Trends Analysis Report By Flute Type (A-Flute, B-Flute, C-Flute, E-Flute, F-Flute), By Board Style (Single Face, Single Wall, Double Wall, Triple Wall), By Region, And Segment Forecasts, 2023 - 2030
New York, Jan. 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Corrugated Board Market Size, Share & Trends Analysis Report By Flute Type, By Board Style, By Region And Segment Forecasts, 2023 - 2030" - https://www.reportlinker.com/p06106863/?utm_source=GNW
Corrugated Board Market Growth & Trends
The global corrugated board market size is expected to reach USD 227.8 billion by 2030., expanding at a CAGR of 6.8% from 2023 to 2030. The growing trend of green packaging and global online sales expansion have created a profound impact on the market for corrugated board.
The expansion of e-commerce is the most important retail trend that has fueled the growth of the market in the past few years.The e-commerce segment particularly picked up pace following the outbreak of the COVID-19 pandemic in 2020 as strict lockdowns were imposed across nations with limited access to essentials.
The aforementioned factor, along with the hesitation of consumers to go outside for shopping as a precautionary measure, is expected to further boost the sales of the e-commerce market. Additionally, 74% of global consumers and retail brand professionals have estimated the spike in sales to be permanent over the upcoming years.
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 that have been primarily reliant on plastic packaging in e-commerce are now adopting corrugated board packaging to comply with regulations across countries.
However, corrugated board tends to get substituted by other sustainable alternatives such as rigid bioplastics as these offer superior properties such as aesthetic appeal and moisture barrier as compared to corrugated boards.Bioplastics are derived from renewable sources such as cellulose, starch, vegetable fats, and vegetable oils.
Bioplastics may or may not be biodegradable and can be bio-based or fossil-based. Therefore, availability of alternatives and lower durability of corrugated board would limit its consumption.
Corrugated Board Market Report Highlights
• In terms of revenue, A Flute is projected to expand at the highest CAGR of 7.7% over the forecast period. A-flute enables the largest spring travel and thereby provides a higher cushioning effect, stiffness, and lateral crush resistance to the contents. Therefore, it is suitable for use in the packaging of fragile and delicate products
• The single wall board style segment accounted for the largest revenue share of over 35.0% in 2022. Boxes made from single-wall corrugated boards are lighter in weight due to a single layer of fluted paper, which lowers shipping costs. The rising trend of online shopping is likely to contribute to increased demand for single wall packaging solutions
• Asia Pacific dominated the market in 2022 and is expected to witness lucrative growth over the forecast period. The presence of highly populated countries, such as China and India, growing urbanization, and increasing spending power of the population are expected to drive the market in the region
• The market is highly competitive and fragmented with a strong presence of local and global companies
Read the full report: https://www.reportlinker.com/p06106863/?utm_source=GNW
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