Containerboard Market size is estimated to surpass USD 150 billion by the end of 2033, witnessing around 3% CAGR during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of containerboard was USD 130 billion. The growth of the market can primarily be attributed to the increasing consumption and production of containerboard globally. For instance, in 2021, the total production of containerboard across the globe was estimated to be nearly 170 million tons and was further estimated to hit approximately 100 million tons by 2032.
Global containerboard market trends such as, higher demand for containerboard in the packaging industry and growing spending on green packaging are projected to influence the growth of the market positively over the forecast period. For instance, in 2019, the packaging material demand worldwide was fulfilled by containerboard and paper, additionally, the demand for containerboard was projected to be approximately 170 million tons. Containerboard is corrugated case material that is mainly manufactured to produce the corrugated board. The containerboard is thicker, more rigid, and heavier than other alternative products. Hence, all these factors are estimated to propel the growth of the market over the forecast period.
Growth Drivers
Higher Prevalence of Online Purchasing Across the Globe-It was estimated that more than 2.5 billion individuals purchased necessary goods online in 2020. Multiple types of goods are ordered online and they are carried to places far from the manufacturing facilities. Thereby, a huge possibility of damage emerges, and to prevent such scenarios, cardboard becomes very beneficial. As the inclination of the global population growing toward online purchasing, it has spurred the demand for the higher production of containerboard. Therefore, such a higher demand is anticipated to hike the growth of the market during the forecast period.
Growing Production of Paper & Paperboard -As of 2020, nearly 65,000 million metric tons of paper & paperboard was produced in China while the production of paper & paperboard in the United States was estimated to reach around 100,000.
Increasing Demand for Containerboard in Food & Beverage Industry-Restaurants, cafeterias, cafés, fast-food outlets, pubs, delis, food manufacturing activities, catering companies, food transportation services, and more are all part of the food and beverage industry. Work in this sector might include everything from packing to cooking, moving, and serving food and drinks. In 2022, the total volume generated by the Food segment was estimated to be about USD 15 billion.
Significant Increment in the Glassware Export-Glassware includes items like bowls, drinking glasses, and ornaments that are constructed of the material. The export volume of glassware across the globe was estimated to be about USD 25 billion in 2020.
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~3% |
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Base Year Market Size (2022) |
~USD 130 Billion |
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Forecast Year Market Size (2033) |
~USD 150 Billion |
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Regional Scope |
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Fiber Type (Virgin, Recycled Fiber)
The global containerboard market is segmented and analyzed for demand and supply by fiber type into virgin and recycled fiber, out of which, the recycled fiber segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the rising awareness of the global population toward climate change. As of 2020, the rate of cardboard recycling was estimated to be around 85%. As 88.8% of corrugated containers were collected for recycling in 2017, it was one of the most recycled packaging materials. The creation of containerboard uses more than 50% of the recovered fibre that is used to make paper and paperboard, as stated by the American Forest and Paper Association.
Our in-depth analysis of the global market includes the following segments:
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By Fiber Type |
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By Type |
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By End-User |
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The Asia Pacific containerboard market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be ascribed to the increasing number of consumers ordering ready-to-make and other sorts of packaged food owing to hectic lifestyles. For instance, the total revenue generated by the ready-to-eat meals segment in the Asia Pacific was anticipated to be approximately USD 300 billion in 2022. Moreover, significant growth in industrialization is further estimated to hike the growth of the market during the forecast period.
Cascades Inc.
Smurfit Kappa Group announces its acquisition of a packaging plant based in Rio de Janeiro, PaperBox. The acquisition took place to expand the presence of the company in Brazil and improve the product portfolio of both companies.
Cascades Inc. unveils its new innovative packaging technology, northbox XTEND to improve the quality of northbox isothermal packaging solutions. Therefore, the company is set to expand its market line of meal boxes that are made with 20% more efficient technology than other delivery solutions.
Author Credits: Sadaf Naaz, Mohd Shadab
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