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The global containerboard market size is anticipated to reach USD 142.03 billion by 2027. This growth is attributable to the increasing demand for packaging from various sectors worldwide. This is a paperboard used for the manufacturing of corrugated boards for packaging purposes. They are lightweight, have high grammage, and are versatile. As per the report by Fortune Business Insights™ titled, “Containerboard Market Size, Share & Industry Analysis, By Material (Virgin, and Recycled), By End-User (Food & Beverage, Personal Care & Cosmetics, Industrial, and Others), and Regional Forecast, 2020-2027,” the market value was USD 120.60 billion in 2019 and is expected to rise at a CAGR of 2.1% between 2020 to 2027.
Collaborative Agreement Between Corrugated Container Corporation and DS Smith to Implement Growth
The North American company named Corrugated Container Corporation (CCC) and DS Smith entered into a joint venture on 22nd May 2018, for increasing the overall capacity of the company’s paper and packaging. This was the follow up of the recent purchase of Interstate Resources by DS Smith. The main objective of CCC is to provide high-quality and sustainable retail-ready and display packaging wherein DS smith already has an upper hand. With this collaboration, the latter will increase its box-making capacity on one side and attract high revenue from North America.
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Rise in Demand for Packaging from Pharmaceutical Companies will Augment Growth
The increasing demand for sustainable packaging from various sectors is promoting the global containerboard market growth. These include demand from food and beverage, cosmetics, pharmaceutical, personal care, and other industries. Besides this, a rise in the demand for convenient, ready-to-eat, and frozen food will also aid in the expansion of the market during the forecast period.
On the flip side, the governments of various nations have imposed the use of natural substances for the production of containerboards, keeping in mind the environmental pollution and degradation. This may hamper the market growth.
Consolidated Nature of Market to Bode well for Players
Five players are holding almost 20% of the market share for containerboard on account of massive investments on the research and development of water-resistant and recyclable containerboard products for gaining a competitive edge in the market. These players include DS Smith, SCG Packaging Public Company Limited, Smurfit Kappa, Lee & Man Paper Manufacturing Ltd., and Mondi Group. These players are also engaging in joint ventures, mergers and acquisitions, agreements and contracts, and other strategies for attracting high revenue in the forecast period. Manufacturers are also implementing the use of recyclable products for the production of these boards and are therefore, investing heavily on the same.
Notable Industry Developments of Market include:
List of Major Market Manufacturers are:
Further Report Findings-
The Market is Segmented Into:
Value (USD Billion) and Volume (Mn Ton)