Asia Pacific Corrugated Packaging Market Size Set to Grow at Steady CAGR of 8.5% during 2023–2029

Published | 01 January 2023

Asia-Pacific corrugated packaging market is gaining traction because of the corrugated packaging’s advantages in preserve the packaged items, e-commerce sector's rapid growth, and increasing awareness about the negative environmental effects of plastic packaging.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Asia-Pacific corrugated packaging market size to grow at a CAGR of 8.5% during the forecast period between 2023 and 2029. The market's expansion is linked to the e-commerce sector's quick development, which has increased consumer awareness of the negative environmental effects of plastic packaging and its desire for robust packaging that gives rigidity and cushioning qualities to preserve the items. The demand for corrugated packaging is also expected to increase in the forecast period, driving the growth of the overall market. This is because many countries, including India, South Korea, and Japan, have banned single-use plastic and are promoting the use of other sustainable alternatives, such as paper and corrugated packaging, which are made from pulp and paper and are highly recyclable.

Asia-Pacific Corrugated Packaging Market - Overview

Corrugated packaging is a type of packaging which is produced from sustainable materials like pulp and paper and is made of many layers of materials instead of one. Many layers provide sturdiness to the packaging and protect the product from damage. Inside liner, outer liner, and a fluted medium sandwiching the two make up the three layers of corrugated. They are manufactured from large high-precision machines called corrugators. Corrugated packaging is popular in the packaging industry because of its various properties including moisture control, impact resistance, tear resistance, burst strength, bending resistance, and shock absorption.

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Asia-Pacific Corrugated Packaging Market – By End–Use Industry

Based on end use industry, Asia-Pacific corrugated packaging market is segmented into food & beverages, personal care & home care, medical, home appliances & electronics, agriculture, industrial, and others. The home appliances & electronics segment accounts for the highest market share. Asia–Pacific countries are emerging as major manufacturers and exporters of consumer goods such as mobile phones, laptops, and washing machines, with high global demand. Corrugated packaging offers maximum protection to these products as it provides stable cushioning which prevents damage.

Impact of COVID-19 on Asia Pacific Corrugated Packaging Market

Asia-Pacific corrugated packaging market was badly hit by the unprecedented COVID–19 pandemic outbreak. As the lockdown imposed by Asian countries to curb the virus spread hindered the operations of the end–user industries including e–commerce, the demand for corrugated packaging fell substantially. The market was floating with the business of essential items only, then also the corrugated packaging manufacturers had to incur huge losses. However, the market is expected to witness significant growth in the post–COVID–19 period owing to the increasing environment–consciousness among consumers.

Competitive Landscape

Major players operating in Asia-Pacific corrugated Packaging market include International Paper, Klingele Papierwerke Gmbh & Co. Kg, Klabin S.A., Westrock Company, Rengo Co., Ltd., Mondi Group, SCG Packaging PCL, Continental Packaging, Toppan Printing Co. Ltd, Lee & Man Paper Manufacturing Limited, Oji Holdings, and Nine Dragons Paper (Holdings) Limited. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Asia-Pacific Corrugated Packaging Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Asia-Pacific Corrugated Packaging Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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