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The North America Corrugated Packaging Market is forecast to increase by USD 19.54 billion, at a CAGR of 4.56% between 2023 and 2028. The upward trajectory of the market is intricately woven with pivotal factors, including a surging need for corrugated packaging driven by the burgeoning realm of e-commerce, a growing appetite for sustainable packaging solutions, and the transformative impact of cutting-edge technologies such as digital printing and automation on packaging processes.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for corrugated packaging due to the rise of e-commerce is notably driving market development. The regional e-commerce sales were estimated to be approximately USD 5.7 trillion by 2022, surpassing the GDP of Germany and Japan. Furthermore, North America's e-commerce market is expanding due to factors such as rising smartphone penetration, increased affluence, and reduced data prices, all of which are driving e-retail growth. Additionally, the growing popularity of online shopping has created a greater demand for durable and environmentally friendly packaging solutions to ensure the safe transit of products.
Moreover, as consumers increasingly prefer the convenience of digital transactions, the North America corrugated packaging market faces increased pressure to supply durable materials that ensure product safety during transit. This move emphasizes the importance of corrugated packaging in protecting products across the e-commerce supply chain. Manufacturers are obliged to provide sustainable solutions that correspond with the environmentally conscious preferences of both businesses and consumers, fueling the expansion of the market during the forecast period.
Integration of smart technologies, such as radio frequency identification tags and sensors is an emerging trend shaping market growth. The integration of smart technologies such as RFID tags and sensors into corrugated packaging is a rapidly growing trend in the regional corrugated packaging market in North America. This innovation improves supply chain management by allowing for real-time tracking, authentication, and monitoring of products. The use of these technologies allows producers to optimize logistics, increase inventory visibility, and maintain product integrity during shipment.
Further, as organizations strive for increased efficiency and transparency in their operations, smart packaging solutions in the corrugated industry provide a competitive advantage. This development is consistent with the changing needs of sectors, particularly e-commerce, where precise and timely information on the location and condition of items is critical for a smooth and dependable supply chain. Such factors are expected to drive the growth of the market during the forecast period.
Volatility in raw material prices is a significant challenge hindering market growth. The corrugated packaging market in North America confronts major challenges because of its inherent vulnerability to price variations in essential raw materials, particularly paper and cardboard. Unpredictable variations in these input costs can have a significant impact on profit margins and operational efficiency for companies. For example, a rapid spike in the price of paper pulp, a main raw material, can drive up production costs, affecting the whole cost structure of corrugated packaging. This challenge is further exacerbated by external variables such as weather-related effects on raw material cultivation and market dynamics affecting regional paper and cardboard supply and demand.
Furthermore, manufacturers must skillfully handle these risks to remain competitive and secure long-term operations. Crafting strategic procurement plans, cultivating supplier relationships, and investigating alternative materials are critical steps for corrugated packaging companies to manage the risks associated with raw material price volatility and maintain financial stability. Hence, owing to the fluctuations in the prices of raw materials, particularly the paper and cardboard industry, the market is expected to witness a hindrance in growth during the forecast period.
The food and beverages segment is estimated to witness significant growth during the forecast period. The market is expanding significantly as the demand for corrugated packaging is expanding significantly in the electronics and electrical application segment. As the regional demand for electronic and electrical products increases, the need for secure and protected packaging will also increase simultaneously.
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The food and beverages segment was the largest and was valued at USD 31.38 billion in 2018. Corrugated packaging is great for protecting delicate electrical components during transit and storage. Its lightweight nature and customizable design ensure effective packaging while helping achieve sustainability goals. Corrugated solutions are becoming increasingly popular among manufacturers due to their environmental benefits. The rising e-commerce sector fuels the rise even more, emphasizing the significance of dependable electronic packaging. With the electronics and electrical industries constantly innovating, the corrugated packaging market is positioned for continued growth, providing sturdy and adaptable solutions to satisfy the changing demands of this dynamic sector. This is expected to propel the growth of the market during the forecast period.
Based on the product, the market has been segmented into corrugated box and folding boxboard. The corrugated box?segment will account for the largest share of this segment.? The market is expanding rapidly, with corrugated boxes emerging as a key product segment. The expansion of e-commerce, greater environmental concern, and adaptability of corrugated boxes in a variety of industries have all contributed to increased demand for corrugated boxes. E-commerce relies heavily on these boxes to ensure safe and sustainable shipping. Corrugated boxes are used in the food and beverage industry to ship and store products, keeping them fresh and reducing damage during transportation. As the e-commerce and retail industries grow, corrugated boxes are poised to maintain their dominance in the regional packaging market by providing a balance of utility, sustainability, and cost-effectiveness. This, in turn, will drive the growth of the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
DS Smith Plc - The company offers corrugated packaging solutions namely Tecnicarton for exportation packages, and bulk solid packaging.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including: Domtar Corp., DS Smith Plc, Graphic Packaging Holding Co., Hood Packaging Corp., Huhtamaki Oyj, International Paper Co., Koch Industries Inc., Kruger Inc., Menasha Corp., Mondi Plc, Nefab AB, Nippon Paper Industries Co. Ltd., Packaging Corp. of America, Rengo Co. Ltd., Sealed Air Corp., Smurfit Kappa, Sonoco Products Co., Stora Enso Oyj, Viking Packaging, and WestRock Co.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market forecasting research report encompasses the entire market adoption cycle, ranging from the initial innovator phase to the subsequent laggard stage. It emphasizes adoption rates across various regions, determined by penetration levels. Additionally, the market report outlines essential purchasing factors and factors influencing price sensitivity. This aids companies in assessing and formulating effective market growth and forecasting strategies.
Customer Landscape
The market research and growth report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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North America Corrugated Packaging Market Scope |
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Report Coverage |
Details |
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Page number |
151 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.56% |
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Market Growth 2024-2028 |
USD 19.54 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
3.79 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Domtar Corp., DS Smith Plc, Graphic Packaging Holding Co., Hood Packaging Corp., Huhtamaki Oyj, International Paper Co., Koch Industries Inc., Kruger Inc., Menasha Corp., Mondi Plc, Nefab AB, Nippon Paper Industries Co. Ltd., Packaging Corp. of America, Rengo Co. Ltd., Sealed Air Corp., Smurfit Kappa, Sonoco Products Co., Stora Enso Oyj, Viking Packaging, and WestRock Co. |
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Market dynamics |
Parent market growth analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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