Containerboard Market to Reach USD 153.51 Billion by 2029

Fortune Business Insights

The companies covered in the containerboard market are Mondi Group (UK) SCG PACKAGING PUBLIC COMPANY LIMITED (Thailand) DS Smith (UK) Lee & Man Paper Manufacturing Ltd. (China) Smurfit Kappa (Ireland) International Paper (USA) Oji Fiber Solutions (NZ) Ltd. (Australia) WestRock Company (USA) Rengo Co., Ltd. (Japan) Georgia-Pacific LLC (USA) Hamburger Containerboard (Austria) Nine Dragons Paper (Holdings) Limited (Hong Kong) Stora Enso (Finland) and many more

Pune, India, April 25, 2022 (GLOBE NEWSWIRE) — The containerboard market size been $126.66 billion in 2021. The market is expected to grow from $129.73 billion in 2022 at $153.51 billion in 2029 at a CAGR of 2.4% during the period 2022-2029. This vital information is presented by Fortune Business Insight™in its report, entitled, “Containerboard Market, 2022-2029. » A factor such as growing demand for sustainable packaging solutions will increase the market footprint over the forecast period.

List of Key Players in Containerboard Market:

  • Mondi Group (UK)

  • SCG PACKAGING PUBLIC COMPANY LIMITED (Thailand)

  • DS Smith (UK)

  • Lee & Man Paper Manufacturing Ltd. (China)

  • Smurfit Kappa (Ireland)

  • International Paper (USA)

  • Oji Fiber Solutions (NZ) Ltd. (Australia)

  • WestRock Company (USA)

  • Rengo Co., Ltd. (Japan)

  • Georgia-Pacific LLC (USA)

  • Hamburger Containerboard (Austria)

  • Nine Dragons Paper (Holdings) Limited (Hong Kong)

  • Stora Enso (Finland)

Impact of COVID-19

Disruptive Supply Chains and Disorganized Global Trade to Limit Market Growth During the Pandemic

The ongoing pandemic has severely hampered the market as various countries have declared regional lockdowns to curb the spread of the virus. The market decline was further accelerated by disruptions in supply chains and a broken workforce. Additionally, at the height of the pandemic, many leading manufacturers were forced to operate at less than optimal capacity, creating a wider gap in the demand-supply chain.

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segments

Based on material, the market can be divided into virgin and recycled.

By end-user, the market can be divided into food & beverage, personal care & cosmetics, industrial and others.

In terms of geography, the market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Report cover

The report contains a detailed approach focusing on crucial factors such as major market players, types of materials and end users and current market trends. Additionally, the report contains the latest research methodology which has been incorporated to amplify the scope of the market. The factors that are expected to have a significant impact on the market are also noted in the report.

Drivers and Constraints

The growth of the food and beverage sector to augment the market growth during the forecast period

Factors such as growing demand for packaging for food and beverages, glassware, electronics, chemicals and consumer products will drive the growth of the containerboard market over the forecast period. Additionally, the durability and eco-friendly nature of containerboards coupled with the ability to be produced with recycled materials will further fuel the growth of the market over the forecast period. Additionally, changing consumer lifestyles and growing demand for ready-to-eat frozen and packaged foods will further fuel the growth of the market.

However, increasing government regulations regarding the use of natural resources will limit the market growth over the forecast period.

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Regional outlook

Asia-Pacific will exert dominance during forecast due to rapid industrialization activities

Asia-Pacific will possess the largest and fastest growing market share during the forecast period owing to rapid industrialization coupled with growing consumer preference opting for ready-to-use packaged food and beverages , to name a few.

North America is expected to take a considerable market share in terms of global contribution owing to the increased use of sustainable products coupled with the ability to offer lightweight and durable packaging features.

Europe is expected to witness a large market share over the forecast period owing to the growing demand for cosmetics and personal care.

Competitive landscape

Prominent Players Arrange Growth Strategies to Dominate During Forecast

The corrugated cardboard sector represents a strongly consolidated market with the top 5 players holding 20% ​​of the global production supply. The dominant players in the market have invested heavy investments in their R&D development for water-resistant and recyclable products. These strategies should gain a competitive edge among global leaders. For example, in September 2021, Rengo Co., Ltd announced that Vina Kraft Paper Co. Ltd decided to build a new corrugated board production base in Vietnam with the help of a joint venture. The newly built factory further aims to create sustainable development and growth in the region of Vietnam. Additionally, players are also focusing on increasing strategic entanglements such as mergers and acquisitions and collaborations to gain a larger consumer base.

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Detailed Table of Contents:

TOC Continued….!

Development of key industry

  • September 2021: Rengo Co., Ltd. announced that Vina Kraft Paper Co., Ltd. had decided to build a new corrugated cardboard production base in Vietnam through a joint venture. With the newly built factory, Vina Kraft Paper will firmly establish its presence in Vietnam and aim for sustainable development and growth.

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