Containerboard Market: Growth by Top Companies, Trends by Types and Application, Forecasts Analysis to 2025
Selbyville, Delaware, United States, September 14 2020 (Wiredrelease) Global Market Insights, Inc –:The ongoing COVID-19 pandemic is also offering containerboard market manufacturers lucrative opportunities, with many consumers looking to stock up on essential supplies. CCM packaging still reigns today as one of the most preferred of transportation packaging.
Containerboard market also called corrugated case material or CCM, is virtually everywhere. It is used to display or package almost every product that consumers see or buy.
Top Key Players – Smurfit Kappa, Mondi Group, International Paper, Nine Dragon Paper (Holdings) Ltd, Klabin, Packaging Corporation of America, Grief, Svenska Cellulosa Aktiebolaget SCA, Stora Enso, KIKA Paper, Georgia Pacific LLC, Cascade Inc, Cheng Loong Corporation, WestRock Company, SAPPI Ltd.
Containe rboard is mainly used to manufacture corrugated boxes, which are commonly known as cardboard. It is among the most widely preferred packaging material because it is strong, lightweight, versatile, and made from renewable sources, which also makes it one of the most recycled packaging materials.
Recent numbers show that nearly 88.8% of CCM was recovered for recycling in 2017. With extensive application in the fast-moving consumer goods (FMCG) sector, global containerboard market size is set to surpass annual valuation of US$250 billion by 2025.
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Positive application outlook in FMCG packaging
The global FMCG sector has experienced a substantial transformation over the past several decades on account of numerous factors such as urbanization, changing consumer lifestyle patterns, and rising income levels. One of the major impacts of these factors has been an increased preference for packaged food and drinks owing to convenience and ease of use and disposal. These trends have significantly propelled the need for containerboard packaging solutions.
Large-scale adoption of technology and the proliferation of ecommerce have also been critical drivers of change for the FMCG industry. With growing popularity of online shopping platforms and their rapid adoption among a vast majority of consumers today, the demand for containerboard packaging and cardboard boxes has surged significantly in recent years.
COVID-19 restrictions driving containerboard demand
Containerboard and cardboard packaging are witnessing a rapid upsurge in demand amid the COVID-19 pandemic as majority of the people continue staying home to curb the spread of the coronavirus.
According to the Canadian Corrugated and Containerboard Association, millions of boxes are being manufactured across Canada to help keep goods moving around the country. The country has witnessed a surging demand for containerboard and cardboard boxes from online retailers, grocery stores, restaurants and pizza shops. There are over 50 manufacturing facilities across Canada that either produce the paper supplies required to make cardboard boxes or manufacture the finished boxes themselves.
Cardboard box manufacturers were concerned that the industry would be shut down due to COVID-19 restrictions. However, the Canadian government declared the industry as an essential service after numerous discussions. The country’s postal service reported on April 20 that it delivered nearly 1.8 million parcels throughout the country, most of which came in cardboard boxes.
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However, the pandemic has also negatively impacted containerboard market outlook across certain countries. A price hike for recycled containerboard packaging on the German market was declared in March this year following intense negotiations, in wake of the ongoing COVID-19 crisis.
Containerboard will continue to be a preferred material for packaging and transportation of FMCG products including processed foods, pharmaceuticals, and personal care products to avoid damage or spillage.
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