Process food industry Segment to dominate South America Corrugated Boards Market during 2020–2028

According to a new market research study on “South America Corrugated Boards Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application,” is expected to reach US$ 19,799.39 million by 2028 from US$ 14,868.36 million in 2021. The market is estimated to grow at a CAGR of 4.2% from 2021 to 2028. The report provides trends prevailing in the South America corrugated boards market along with the drivers and restraints pertaining to the market growth. Fostering demand for corrugated boards in diverse application range, increasing expansion of online retail, and prospering advancements in digital printing are the major factor driving the growth of the South America corrugated boards market. However, ever changing prices of raw materials hinders the growth of South America corrugated boards market.

Brazil reported the highest number of COVID-19 cases, followed by Argentina, Peru, Chile, and Ecuador among others. The government of South America has taken an array of actions to protect its citizens and combat the spread of the COVID-19 virus through lockdowns, trade bans, and travel restrictions. This may have a direct impact on the growth of the corrugated board market due to significant disruptions in terms of sourcing of raw materials from suppliers as well as temporary closures of manufacturing base due to indefinite lockdowns and temporary quarantines. However, the demand for corrugated board is expected to increase in the region as the economies are recovering and vaccination drives are being adopted.

The South America corrugated boards market is segmented on the basis of application and country. Based on application, the market is segmented into food and beverages, e-commerce, consumer durables, electricals and electronics, and others. In 2020, food and beverages segment held the largest share in the market, e-commerce is expected to be the fastest growing segment during the forecast period. Further based on food and beverages, the market is segmented into process food industry, fresh fruit and vegetable packaging, and others. In 2020, process food industry segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into Brazil, Argentina, Chile, Colombia, Mexico, and Rest of SAM. In 2020, Brazil held the largest share in the market, and Argentina is expected to be the fastest growing country during the forecast period.

Klabin S.A.; International Paper; Arcor; Mondi; NIPPON PAPER INDUSTRIES CO., LTD.; Klingele Papierwerke GmbH & Co. KG; Smurfit Kappa; WestRock Company; Papeles y Conversiones de México; and IRANI PAPEL E EMBALAGEM S.A. Company are among the leading companies in the South America corrugated boards market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Klabin, Brazil’s largest manufacturer and exporter of packaging paper, has acquired the International Paper’s packaging paper and corrugated packaging business in Brazil.

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