Containerboard Market - Forecast(2024 - 2030)

Report Code: CMR 1146 Report Format: PDF + Excel

Containerboard Market Overview

The Containerboard Market size is estimated to reach US$256.2 billion by 2027 after growing at a CAGR of 5.9% during the forecast period 2022-2027. Containerboard or corrugated case material is a type of paperboard made from wood fiber or recycled paper which is used in making packaging materials such as cardboard & corrugated boxes. The lightweight, high versatility and durable nature of containerboard are driving its demand for packaging applications in major sectors such as food & beverage, pharmaceuticals, cosmetics & personal care and electrical & electronics, which has influenced the Containerboard Market. Growing demand for poultry products such as broiler chicken has increased the production level of such items. According to the U.S., Department of Agriculture, broiler production for 2022 is estimated to increase by 2% more than 2021’s production level. In addition to food & beverage, the growing consumption of electronics items and bolstering growth in the pharmaceutical sector is also driving the growth in the containerboard industry. However, raw material price fluctuation is anticipated to pose a challenge in the market growth of containerboard, thereby restraining the Containerboard Market size during the forecast period. The lockdown restrictions decreased the demand for various food items as well as consumer goods such as cosmetics and electronics, which reduced the demand for containerboard for packaging applications in these sectors, thereby negatively impacting the containerboard industry outlook.

Containerboard Market Report Coverage

The “Containerboard Market Report – Forecast (2022 – 2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Containerboard Industry.

By Type: Kraftliners, Testliners and Fluting.
By Material: Virgin Fibre and Recycled Paper.
By Packaging Grade: Liner Grade, Medium Grade and White Top Grade.
By Wall Type: Single Wall, Double Wall and Trippel Wall.
By End-use Industry: Food & Beverage (Fruits & Vegetables, Processed Food, Ready-to-eat-Food, Poultry Products and Others), Cosmetics & Personal Care, Pharmaceuticals, Textile Industry (Woven and Non-Woven), Electrical & Electronics (Smartphones, Television, Computers and Others) and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, New Zealand, Indonesia, Taiwan, Malaysia and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and Rest of South America) and Rest of the World (the Middle East and Africa).

Key Takeaways

  • Asia-Pacific dominated the Containerboard Market owing to the rapidly growing food & beverage and textile sector in the region which is having a significant influence on its market demand in the region.
  • The growing demand for and consumption of electronic items such as smartphones and television owing to rapid urbanization and improvement in living standards has increased the usage of containerboard in the electrical & electronics sector for packaging applications, thereby positively impacting the containerboard industry outlook.
  • The growing fluctuations in the raw material price can restrain the production volume of containerboard, thereby negatively impacting its market growth as well as Containerboard Market size during the forecast period.

Figure: Containerboard Market Revenue Share by Geography, 2021 (%)

Containerboard Market

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Containerboard Market Segment Analysis – by Material

Recycled paper held the largest share in the Containerboard Market share in 2021 and is projected to grow at a CAGR of 6.1% during the forecast period 2022-2027. Cardboard and corrugated boxes made from recycled paper are more eco-friendly, require less energy during manufacturing and decrease solid waste disposal in comparison to virgin corrugates. Owing to its reusing ability and less carbon dioxide emission during containerboard manufacturing, recycled paper holds a higher preference over virgin fiber in packaging applications. Furthermore, the growing awareness of people to use sustainable packaging products is anticipated to contribute to the segment growth in the Containerboard Market during the forecast period.

Containerboard Market Segment Analysis – by End-use Industry

The Food & beverage sector held the largest share in the Containerboard Market share in 2021 and is projected to grow at a CAGR of 6.5% during the forecast period 2022-2027. Corrugated case material owing to its higher strength and durability is used as corrugated boxes and cardboard for packaging applications in the food & beverage sector. The rapid increase in disposable income and improvement in living standards coupled with population growth has increased the demand for food items leading to their increase in production. According to Statistics Canada, in 2021, the production of vegetables such as asparagus, broccoli and cabbage stood at 24.7 million tons, showing a 5% increase in comparison to 2020’s production. Furthermore, according to the food and Agriculture Organization, in 2021, global meat production rose by 5% in comparison to 2020. With such an increase in the production of food items, the demand for containerboard for packaging applications has also accelerated, thereby boosting the containerboard industry growth during the forecast period.

Containerboard Market Segment Analysis – by Geography

Asia-Pacific held the largest share in the Containerboard Market share in 2021 up to 39.7%. The high applicability of corrugated case material for packaging application in major end-users such as food & beverage and textile is fueling its demand in the region. Growing investments and favorable government policies have resulted in the rapid growth of these sectors. For instance, according to the Ministry of Textiles, in the first three quarters of 2021, India’s textile sector registered 41% growth in comparison to 2020 for corresponding quarters. Furthermore, according to the National Bureau of Statistics, in August 2021, China’s Food processing sector increased by 7.2% in comparison to 2020 for the same month. With such rapid growth in these sectors, the demand for containerboard for product packaging and storing has also accelerated in the region, thereby contributing to the growth of the containerboard industry during the forecast period. 

Containerboard Market Drivers

Bolstering Growth in Pharmaceutical Sector:

Containerboard has high applicability in the pharmaceutical sector, as paperboard is durable and has high wear & tear, it is used in packaging various medicinal products. The growing demand for various medicines coupled with government policies for the development of the sector has resulted in its significant growth. For instance, according to the statement by the Indian Government, in 2021, the pharmaceutical sector of the county showed significant growth of 103% in comparison to 2013. Furthermore, according to the European Federation of Pharmaceutical Industry and Association, in 2020, pharmaceutical production in Europe increased by 5.7% in comparison to 2019. With such bolstering growth in the pharmaceutical sector, the demand for containerboard for packaging applications has also been boosted, thereby propelling the growth of the containerboard industry during the forecast period.

Growing Consumption of Electronic Items:

Containerboard packaging provides flexible packaging and a good strength-to-weight ratio, owing to which it is majorly used for packaging electronics items such as smartphones, television and computers. The growing technological advancements have increased the demand for such electronic items, thereby increasing their consumption rate. For instance, according to the China Academy of Information and Communication, in 2021, China shipped 342.8 million units of smartphones domestically which showed a 15.9% increase in consumption. Also, according to the Consumer Technology Association, LCD TV shipments climbed up to 4.3 million units in the U.S. With such an increase in consumption of electronic items, the demand and usage of containerboard for packaging such items has also accelerated, thereby creating a surge in the growth of the containerboard industry during the forecast period.

Containerboard Market Challenge

Price Fluctuation in Raw Materials:

Recycled paper such as kraft paper constitutes major raw material in containerboard manufacturing. The negative impact imposed by external climatic factors causes fluctuation in the production of such raw materials, thereby fluctuating their prices. For instance, according to the August 2019 half-yearly report by Mondi Group, prices of kraft paper increased around 8% in the first half of 2019 but dropped in the second half. Furthermore, according to the December 2020 news by Eastern India Corrugated Box Manufacturers' Association (EICMA), the prices of kraft paper again increased relentlessly in 2020. Such fluctuations are anticipated to pose a challenge in the market growth of containerboard, thereby negatively impacting the Containerboard Market size during the forecast period.

Containerboard Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Containerboard Market. The top 10 companies in the Containerboard Market are:

  1. Mondi Group
  2. SCG Packaging Public Company
  3. Smurfit Kappa
  4. Oji Fiber Solutions
  5. WestRock Company
  6. Paper Excellence Group
  7. Nine Dragon Paper Limited
  8. International Paper
  9. Lee & Man Paper Manufacturing Ltd.
  10. D.S Smith

Recent Developments

  • In July 2022, WestRock Company entered into an agreement to acquire the remaining interest in Grupo Gondi for US$970 million and such acquisition will increase the containerboard production capacity of the company in the Latin American region.
  • In December 2021, Paper Excellence Group acquired Domtar for US$3 billion and such an acquisition will broaden the company’s reach and expand its containerboard product range for various packaging applications.
  • In October 2021, Smurfit Kappa acquired Verzuolo for US$417 million in Italy and the acquisition will increase the production capacity of recycled containerboard for Smurfit Kappa, thereby expanding its product range in sustainable packaging solutions.

Relevant Reports

Industrial Packaging Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis

Report Code – CMR 1130

Corrugated Boxes Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis

Report Code – CMR 1315

Paper and Paperboard Market – Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis

Report Code – CMR 0183

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1. Containerboard Market - Market Overview
    1.1 Definitions and Scope
2. Containerboard Market - Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Material
    2.3 Key Trends by Packaging Grade
    2.4 Key Trends by Wall Type
    2.5 Key Trends by End-use Industry
    2.6 Key Trends by Geography
3. Containerboard Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Containerboard Market - Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Containerboard Market – Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Containerboard Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Containerboard Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Containerboard Market – by Type (Market Size - US$ Million/Billion)
    8.1 Kraftliners
    8.2 Testliners
    8.3 Fluting
9. Containerboard Market – by Material (Market Size - US$ Million/Billion)
    9.1 Virgin Fibre
    9.2 Recycle Paper
10. Containerboard Market – by Packaging Grade (Market Size - US$ Million/Billion)
    10.1 Liner grade
    10.2 Medium Grade
    10.3 White Top Grade
11. Containerboard Market – by Wall type (Market Size - US$ Million/Billion)
    11.1 Single Wall
    11.2 Double Wall
    11.3 Trippel Wall 
12. Containerboard Market - by End-use Industry (Market Size - US$ Million/Billion)
    12.1 Food & Beverage
        12.1.1 Fruits & Vegetables
        12.1.2 Processed Food
        12.1.3 Ready-to-eat Food
        12.1.4 Poultry Products
        12.1.5 Others
    12.2 Cosmetics & Personal Care
    12.3 Pharmaceuticals
    12.4 Textile Industry
        12.4.1 Woven
        12.4.2 Non-Woven
    12.5 Electrical & Electronics
        12.5.1 Smartphones
        12.5.2 Television
        12.5.3 Computers
        12.5.4 Others
    12.6 Others
13. Containerboard Market - by Geography (Market Size - US$ Million/Billion)
    13.1 North America
        13.1.1 the USA
        13.1.2 Canada
        13.1.3 Mexico
    13.2 Europe
        13.2.1 the UK
        13.2.2 Germany
        13.2.3 France
        13.2.4 Italy
        13.2.5 the Netherlands
        13.2.6 Spain
        13.2.7 Belgium
        13.2.8 Rest of Europe
    13.3 Asia-Pacific
        13.3.1 China
        13.3.2 Japan
        13.3.3 India
        13.3.4 South Korea
        13.3.5 Australia and New Zeeland
        13.3.6 Indonesia
        13.3.7 Taiwan
        13.3.8 Malaysia
        13.3.9 Rest of APAC
    13.4 South America
        13.4.1 Brazil
        13.4.2 Argentina
        13.4.3 Colombia
        13.4.4 Chile
        13.4.5 Rest of South America
    13.5 Rest of the World
        13.5.1 the Middle East
   Saudi Arabia
   Rest of the Middle East
        13.5.2 Africa
   South Africa
   Rest of Africa
14. Containerboard Market – Entropy
    14.1 New Product Launches
    14.2 M&As, Collaborations, JVs and Partnerships
15. Containerboard Market – Industry/Competition Segment Analysis Premium 
    15.1 Company Benchmarking Matrix – Major Companies
    15.2 Market Share at Global Level - Major companies
    15.3 Market Share by Key Region - Major companies
    15.4 Market Share by Key Country - Major companies
    15.5 Market Share by Key Application - Major companies
    15.6 Market Share by Key Product Type/Product category - Major companies
16. Containerboard Market – Key Company List by Country Premium Premium 
17. Containerboard Market Company Analysis - Business Overview, Product Portfolio, Financials and Developments
    17.1 Company 1
    17.2 Company 2
    17.3 Company 3
    17.4 Company 4
    17.5 Company 5
    17.6 Company 6
    17.7 Company 7
    17.8 Company 8
    17.9 Company 9
    17.10 Company 10 and more
* "Financials would be provided to private companies on a best-effort basis."
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