Containerboard Market Size To Reach $185.89 Billion By 2030

Containerboard Market Growth & Trends

The global containerboard market size is expected to reach USD 185.89 billion by 2030, registering a CAGR of 2.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. This growth can be attributed to the rising inclination of consumers and manufacturers towards the use of sustainable and eco-friendly packaging materials on account of rising environmental awareness and regulations.

Containerboards majorly utilize renewable resources or recycled materials for production, thus, falling under the criteria of sustainability. In addition, the product is a part of the circular economy as it is easily recyclable after its original usage to make new packaging materials, thereby, minimizing waste and protecting resources. These factors are further increasing the demand for containerboards in the market.

Containerboard is also adopted for packaging used for marketing and branding since it can be printed with high-quality graphics. Furthermore, the technical advancements in the area of digital printing are also projected to create potential business possibilities for the market competitors. The market potential is also anticipated to increase over the upcoming years as a result of rising demand for high-volume liners and post-print products as well as an increase in the adoption of innovative technologies.

The market is also witnessing rising demand for lightweight and sustainable packaging materials. Containerboard is derived from renewable resources and can be recycled after use. They possess characteristics such as strong, light, and flexible. Containerboards are used in various industries such as food & beverage, consumer goods, industrial sector, agriculture, medical, and e-commerce for packaging.

The growing number of young people and the working population including women are driving the need for packaged food that could be cooked in less time. Additionally, people are opting for ready-to-eat food, which comes in packaged form. These factors are increasing the use of packaging products in the food & beverage industry, thereby leading to the increased demand for the market.

Asia Pacific region dominated the market in 2022 and is expected to grow at the fastest CAGR over the forecast period. The robust presence of several end-use industries such as food & beverage, consumer goods, and agriculture is contributing to the increased demand for containerboard in the region. Furthermore, rising consumer spending, rapid urbanization, industrial trade, and production in countries such as India and China are further boosting the demand for packaging materials such as containerboard.

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Containerboard Market Report Highlights

• Based on material, recycled material dominated the market with a revenue share of 76.3% in 2022. The segment is further expected to grow at a significant rate over the forecast period on account of rising environmental concerns that are influencing the use of sustainable materials for packaging

• Based on end-use, the food & beverage dominated the market in 2022. The food and beverage industry utilizes corrugated boxes produced from containerboards for storage and transportation on account of qualities including toughness, vibration & stacking resistance, and resistance to crushing. Additionally, the following properties further help in decreasing the overall cost of packing and shipping

• Europe is expected to grow over the forecast period on account of the region’s commitment to sustainability and environmental health. Initiatives such as reducing the use of single-use plastic are encouraging manufacturers as well as customers to incline towards the use of containerboards. Furthermore, the growing consumer goods, e-commerce, and retail sector is further expected to propel the product demand

Containerboard Market Segmentation

Grand View Research has segmented the global containerboard market based on material, end-use, and region:

Containerboard Material Outlook (Revenue, USD Billion, 2018 - 2030)

• Recycled

• Virgin

Containerboard End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Food & Beverage

• Consumer Goods

• Industrial

• Others

Containerboard Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Central & South America

  • Brazil

• Middle East & Africa

List of Key Players 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