Containerboard Market Size Growth & Segment Insights
The global containerboard market was valued at USD 154.13 billion in 2023 and is projected to reach USD 203.74 billion by 2033, growing at a CAGR of 2.83% during this period. This growth is primarily driven by the increasing demand for lightweight and sustainable packaging materials.
Download Statistical Data: https://www.towardspackaging.com/download-statistics/5198
Key Takeaways
- Asia Pacific led the market with the largest revenue share of 50% in 2023.
- North American is observed to grow at the fastest rate during the forecast period.
- By material, the recycled material segment has contributed more than 78% of revenue share in 2023.
- By material, the virgin material segment is expected to grow at the fastest rate during the forecast period.
- By end-use, the food & beverage segment has generated the largest revenue share of 33% in 2023.
- By end-use, the consumer goods segment is the fastest growing segment over the forecast period.
Segment Insights
Material Insights
In 2023, the recycled material segment led the containerboard market, driven by increasing environmental concerns and a growing preference for sustainable packaging solutions. Recycled fiber can be reused 6 to 7 times while maintaining its durability, thereby reducing waste. Additionally, recycled materials are cost-effective and compliant with government sustainability standards and regulations.
Producing containerboard from recycled materials is often more economical than using virgin fibers. The recycling process typically requires less energy and water, resulting in lower production costs. This cost advantage makes recycled containerboard an appealing option for manufacturers, especially in price-sensitive markets.
The emphasis on environmental sustainability and reducing carbon footprints in manufacturing processes is on the rise. Utilizing recycled materials in containerboard production helps conserve natural resources, minimize waste, and lower greenhouse gas emissions. This aligns with the global shift toward sustainable practices, enhancing the appeal of recycled containerboards for both consumers and businesses.
In October 2023, the ISRI Fiber Recycling Readiness Tool was launched in the U.S., focusing on the recycling of post-consumer fiber-based paper, paperboard, and corrugated packaging.
Conversely, the virgin material segment is anticipated to grow at the fastest rate during the forecast period. This segment refers to containerboard made from entirely new and unused paper fibers, highlighting high-quality packaging materials with superior strength and printability. Current trends within the virgin segment emphasize sustainability through responsible sourcing of raw materials and environmentally friendly production methods.
End-Use Insights
In 2023, the food and beverage segment held the largest share of the containerboard market. The demand for packaged foods has surged due to their convenience and minimal preparation time, driven by a growing young population and an increasing number of working women. Food and beverage companies favor corrugated board packaging for its ability to withstand long delivery times while protecting moisture-sensitive food products. Consequently, this segment is expected to account for a substantial portion of the containerboard market.
The consumer goods segment is projected to be the fastest-growing segment throughout the forecast period. Increasing purchasing power, rising living standards, and rapid urbanization in both developed and developing countries are likely to fuel growth in the consumer goods sector, driving demand for containerboard. As competition intensifies within the consumer goods industry, the need for effective branding through containerboards is anticipated to rise.
Top Companies in the Containerboard Market
- International Paper
- Oji Fibre Solutions (NZ) Ltd
- Nine Dragons Paper (Holdings) Limited
- Smurfit Kappa Group
- Mondi Limited.
- WestRock Company
- Sappi Ltd
- Cascades Inc.
- Stora Enso Oyj
- Georgia-Pacific LLC
Buy Premium Global Insight: https://www.towardspackaging.com/price/5198
Get the latest insights on packaging industry segmentation with our Annual Membership – https://www.towardspackaging.com/get-an-annual-membership
If you have any questions, please feel free to contact us at sales@towardspackaging.com
About Us
Towards Packaging is a leading global consulting firm specializing in providing comprehensive and strategic research solutions. With a highly skilled and experienced consultant team, we offer a wide range of services designed to empower businesses with valuable insights and actionable recommendations. We stay abreast of the latest industry trends and emerging markets to provide our clients with an unrivalled understanding of their respective sectors. We adhere to rigorous research methodologies, combining primary and secondary research to ensure accuracy and reliability. Our data-driven approach and advanced analytics enable us to unearth actionable insights and make informed recommendations. We are committed to delivering excellence in all our endeavours. Our dedication to quality and continuous improvement has earned us the trust and loyalty of clients worldwide.
Browse our Brand-New Journal:
https://www.towardshealthcare.com
https://www.towardsautomotive.com
For Latest Update Follow Us: https://www.linkedin.com/company/towards-packaging/
Get Our Freshly Printed Chronicle: https://www.packagingwebwire.com/
Get a Subscription – – https://www.towardspackaging.com/get-an-annual-membership With our commitment to delivering accurate and up-to-date data, our annual packages ensure continuous access to a wealth of valuable information.