The global corrugated boxes market size is estimated at USD 67.6 billion in 2021 and is projected to reach USD 80.8 billion by 2026, at a CAGR of 3.6%, between 2021 and 2026. Corrugated boxes are often used as shipping containers. They are sturdy, handy, and lightweight, owing to which they are used in a wide range of applications. The corrugated boxes market is witnessing demand owing to the rise in the online retail industry. The growing food & beverages, electronic, textile, home & personal care, glassware & ceramics, chemicals, and paper & paper products industries have contributed significantly towards the growth of the corrugated boxes market.
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The key players in the corrugated boxes market are Rengo Co., Ltd. (Japan), Mondi Group (UK), DS Smith (UK), Smurfit Kappa Group (Ireland), and International Paper (US), and others. The corrugated boxes market report analyzes the key growth strategies adopted by the leading market players, between 2017 and 2021, which include expansions, mergers & acquisition, new product developments/launch, and collaborations.
Rengo Co., Ltd. is engaged in the manufacture and sales of packaging materials and equipment. It operates through the following business segments: paperboard and packaging, flexible packaging, heavy duty packaging, overseas business, and others. The paperboard and packaging segment manufactures and sells paperboard, corrugated board, and corrugated containers. The flexible packaging segment manufactures and sells of flexible packaging and cellophane. The heavy-duty packaging segment manufactures and sells heavy duty packaging products. The overseas business handles overseas operations of the paperboard, corrugated boxes, flexible packaging, and heavy-duty packaging products. The others segment manufactures and sells nonwoven products, paper packaging machinery, printing paper, and other businesses that includes transport, insurance agency, leasing, and real estate.
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Mondi Group is integrated fully across the paper and packaging value chain, beginning from the manufacture of compound plastics and papers to the development of innovative packaging solutions for industries as well as consumers. The company deals in corrugated packaging, flexible packaging, engineered materials, and uncoated fine paper. It offers a wide range of products such as office papers, extrusion coatings, industrial bags, containerboards, corrugated, and consumer goods packaging. The company offers several brands including color copy, DNS, IQ, MAESTRO, and NAUTILUS. The Mondi Group has operations in more than 30 countries globally and offers products which are highly sustainable and best meet the needs of customers. Amcor Limited (Australia), Sonoco Products Company (US), and Constantia Flexibles (Austria) are some of the key competitors of the company.
Recent Developments in Corrugated Boxes Market
- In October 2021, Smurfit Kappa Group completed
the acquisition of Verzuolo. As a result of this acquisition, the company
converted the PM9 machine into a state-of-the-art 661,387-ton recycled
containerboard machine in 2019. It complements the already existing and
strategically located operational facilities near the port of Savona. This is
expected to benefit the company as well as the customer base.
- In September 2021, Rengo Co., Ltd. announced
that its joint venture in Vietnam, Vina Kraft Paper Co., Ltd., has opted to
build a new containerboard production site. Due to continued foreign direct
investments, majorly in the export industry, and expanding domestic
consumption, Vietnam's total annual demand for containerboard was over three
million tons in 2019. Vina Kraft Paper is expected to firmly establish itself
as a market leader in the Vietnam containerboard sector, with the newly
constructed mill aiming for long-term development and expansion. It is also
expected to boost Vietnam's local integrated containerboard to corrugated box
production system.
- In September 2021, the Mondi Group expanded by
installing new equipment at its corrugated box production plant in Szczecin,
Poland. This expansion aims at expanding the company’s packaging portfolio and
enhance production processes. This expansion is expected to further strengthen
the company's presence as a preferred e-commerce packaging supplier to the
growing European markets.
- In August 2021, DS Smith developed a
completely recyclable e-commerce packaging for Blaue Helden. This sustainably
developed e-commerce packaging from DS Smith imparts the environment-friendly
cleaning tabs from Blaue Helden, an enhanced appearance catering to online
retail, with 100% corrugated cardboard and no plastic filling material at all.
- In March 2021, International Paper completed the purchase of two state-of-the-art corrugated box plants in Spain. This purchase will enhance the capabilities of the company in Madrid and Catalonia. Corrugated packaging business is of strategic importance to the company with respect to the EMEA. It offers its customers high-quality packaging solutions in the industrial, fresh fruits and vegetables, and e-commerce segments. The two businesses have been the part of International Paper from April 1, 2021.
