Asia Pacific Corrugated Boards Market

Market Introduction

Asia Pacific comprises India, China, Japan, South Korea, and Australia, among others. These countries are witnessing a surge in industrialization activities, offering ample opportunities for key market players in the corrugated board market. In Asia Pacific, there has been an increase in the consumption of corrugated board in various industries such as food & beverages, electronics, and e-commerce. The rise in awareness regarding sustainable and cost-effective corrugated board packaging solutions will boost the demand for corrugated board in the region. Along with this, an increase in awareness about the environment is expected to result in increased demand for greener packaging solutions. Various initiatives taken by the government to ban plastic packaging in several Asian countries are also expected to accelerate product consumption. In accordance with this, the rise in the demand for electronic goods, automotive parts, and home care, and beauty & personal care products from domestic and international markets is leading to an increase in the demand for corrugated boxes. According to the report, 'China's Growing Role in U.S. Automotive Supply Chains,' published in August 2019 by the US International Trade Commission, stated that the export of automotive parts from China under HS 8708 was valued at US$ 12.2 billion in 2007 that increased to US$ 34.8 billion in 2018.Therefore, a growing foothold of companies from Asia Pacific in the packaging of various products is expected to propel market growth.

The emergence of new COVID-19 waves in India, Thailand, and other Asian economies has prolonged the effect upon GDP. The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries of Asia Pacific. However, the uncertainty regarding the future outbreak, especially in countries such as India and a few other Asian countries, has altered the status of several industrial sectors. The governments of various Asia Pacific economies are taking possible steps to restrict the spread of the virus by announcing country-wide lockdown, which have a direct impact upon the growth of industrial sectors. During the pandemic consumers across Asia Pacific have been spending more for essential goods on online platforms, and according to a study by Bain & Company and Facebook stated that more than a quarter (28%) consumers in South East Asia have tried a new e-commerce app, which is leading to the growth of e-commerce retail industry. For Asian-Pacific countries, e-commerce had already increased significantly during the first quarter of 2020. Thus, the pandemic led to an increase in e-commerce activities in Asia Pacific countries, which has led to an increase use of corrugated boards for packaging purpose in the e-commerce industry.

Market Overview and Dynamics

The corrugated boards market in Asia Pacific is expected to grow US$ 45,631.65 million in 2021 to US$ 75,786.00 million by 2028; it is estimated to grow at a CAGR of 7.5% from 2021 to 2028. Corrugated packaging materials are used in the secondary and tertiary packaging of nondurable and durable goods, such as food and beverages products, consumer durables, electricals and electronics appliances, paper, chemicals, personal care and household products, agriculture products, forestry and fishing products, and plastic and rubber products. Corrugated boards are among the cost-efficient and versatile packaging solutions that help protect a wide range of products, especially during transport. These boards are lightweight, rigid, biodegradable, and recyclable, which makes them an integral component in the packaging industry. A substantial rise in the demand for the fast-moving consumer goods (FMCG) and branded consumer durables across the world is bolstering the use of corrugated boards for packaging. Corrugated boards are extensively used across the food & beverages industry to pack processed food items such as bread, snacks, ready-to-eat (RTE) meals, and meat products; fruits; durable food products; and beverages. For instance, food service outlets are using corrugated boxes for packaging pizza. Shift in consumer lifestyle, along with the growing demand for convenience food, is driving the need for catering and high-quality packaging services, which fuels the growth of the corrugated boards market. In addition, there has been an increased focus on innovations in the corrugated boards used for food products. For instance, the company THIMM Group, a solution provider for the packaging and distribution of goods, developed “COOLandFREEZE,” a box made of corrugated cardboard for temperature-controlled shipping that enables the joint transport of non-refrigerated, frozen, and chilled products within one package. Thus, the growing demand for corrugated boards in various applications drives the growth of the corrugated board market.

Key Market Segments

In term of application, food and beverages segment held a larger market share of the corrugated boards market in 2020. Further based on food and beverages, process food industry segment held a larger market share of the corrugated boards market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the corrugated boards market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Klabin S.A.; International Paper; Arcor; Mondi; NIPPON PAPER INDUSTRIES CO., LTD.; and WestRock Company among others.

Reasons to buy report

• To understand the Asia Pacific corrugated boards market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Asia Pacific corrugated boards market
• Efficiently plan M&A and partnership deals in Asia Pacific corrugated boards market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Asia Pacific corrugated boards market
• Obtain market revenue forecast for market by various segments from 2021-2028 in Asia Pacific region.

Asia Pacific Corrugated Boards Market Segmentation

Asia Pacific Corrugated Boards Market – By

Application

• Food and Beverages

• Process food industry
• Fresh Fruit and Vegetable Packaging
• Others

• E-Commerce
• Consumer Durables
• Electricals and Electronics
• Others

Asia Pacific Corrugated Boards Market – By

Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of Asia Pacific

Asia Pacific Corrugated Boards Market – Companies Mentioned

• Klabin S.A.                                                                            
• International Paper                                                             
• Arcor                                                                                     
• Mondi                                                                                   
• NIPPON PAPER INDUSTRIES CO., LTD.                             
• WestRock Company     

Asia Pacific Corrugated Boards Strategic Insights

Strategic insights for the Asia Pacific Corrugated Boards provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia Pacific Corrugated Boards Report Scope

Asia Pacific Corrugated Boards Regional Insights

The geographic scope of the Asia Pacific Corrugated Boards refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.