North America Corrugated Boards Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Food and Beverage, E-commerce, Consumer Durables, Electrical and Electronics, and Others)
Market Introduction
The growing utilization of corrugated board in various end-use industries such as food & beverages, consumer durables, e-commerce, and electronics propels its market growth in North America. Also, the demand for flexible packaging, requiring corrugated boards, in North America has been on the rise. According to the Flexible Packaging Association, 60% of the consumers in North America are willing to pay more for tangible and functional packaging benefits. Thus, various manufacturers are focusing on developing flexible packaging with the use of corrugated board, which, in turn, will provide growth opportunities for the corrugated board market.
Many sectors, including the chemicals and materials industry, faced unprecedented challenges due to the COVID-19 pandemic. Due to shortage in raw material supply, shutdown of factories, labor shortage, and other operational difficulties under COVID-19 safety protocols, companies involved in the manufacturing of packaging products faced a contraction in sales during initial months of the pandemic. The e-commerce sector witnessed significant demand for various products such as packaged food and beverages, groceries, daily essentials, and consumer durable goods owing to shut down of offline stores. With rapidly growing e-commerce sector even in the times of COVID-19 pandemic, there was significant demand for corrugated boards from the e-commerce sector to package and transfer various goods. The US recorded the highest number of confirmed COVID-19 cases among all key countries in North America. This negatively impacted the overall manufacturing processes, research, and development activities. However, on May 26, 2021, a total of 288 million doses have been given administered so far in the US, and the governments are also planning to revive their operations soon. Slowly and gradually manufacturing units are being operationalized and various industries are recovering, which will have a positive impact on the corrugated board market.
Market Overview and Dynamics
The corrugated boards market in North America is expected to grow US$ 29,342.47 million in 2021 to US$ 45,039.33 million by 2028; it is estimated to grow at a CAGR of 6.3% from 2021 to 2028. Corrugated board is one of the green packaging solutions. The boards are considered an effective alternative to polymer-based packaging solutions, such as expanded polystyrene (EPS) foams. Manufacturers aim to convert such boards into new generations of containerboard for sustainable operations. Corrugated boards can be easily recycled and are eco-friendly and economical. They are made of recyclable materials, such as used cardboard cartons and old newspapers, which promotes their sustainability. Additionally, corrugated cardboards manufacturing is often carried out without using dyes or bleaches, which lowers the carbon footprint of the products and production process. The increase in inclination toward minimizing the overall volume of air cargo contributes to efficient packaging and creates a possibility for significant cost reduction in bulk transports. Moreover, lightweight corrugated board packaging has been considered one of the effective solutions adopted mainly by retailers and wholesalers to save costs and create appealing effects for packaging. Therefore, the growing focus on economical, eco-friendly, and lightweight packaging solutions of different end-use industries, such as electronics, automotive and transportation, pharmaceuticals, healthcare, food & beverages, would create lucrative opportunities for the growth of the corrugated boards market in the coming years.
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 North America 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.; Smurfit Kappa; and WestRock Company among others.
Reasons to buy report
- To understand the North America 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 North America corrugated boards market
- Efficiently plan M&A and partnership deals in North America 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 North America corrugated boards market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
North America Corrugated Boards Market Segmentation
North America Corrugated Boards Market – By Application
- Process food industry
- Fresh Fruit and Vegetable Packaging
- Others
- E-Commerce
- Consumer Durables
- Electricals and Electronics
- Others
North America Corrugated Boards Market – By Country
- US
- Canada
North America Corrugated Boards Market – Companies Mentioned
- Klabin S.A.
- International Paper
- Arcor
- Mondi
- NIPPON PAPER INDUSTRIES CO., LTD.
- Smurfit Kappa
- WestRock Company
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. North America Corrugated Boards Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of Substitutes
4.2.4 Threat of New Entrants
4.2.5 Intensity of Competitive Rivalry
4.3 Expert Opinion
4.4 Ecosystem Analysis
5. North America Corrugated Board Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Raising Demand for Corrugated Boards in Diverse Applications
5.1.2 Growing Expansion of Online Retail
5.1 Market Restraints
5.1.1 Unsteady Prices of Raw Materials
5.2 Market Opportunities
5.2.1 Up-surging Demand for Sustainable and Lightweight Packaging Materials
5.3 Future Trends
5.3.1 Increasing Advancements in Digital Printing
5.4 Impact Analysis of Drivers and Restraints
6. North America Corrugated Boards Market Analysis
6.1 Market Overview
6.2 North America Corrugated Boards Market –Revenue and Forecast to 2028 (US$ Million)
7. North America Corrugated Board Market Analysis – by Application
7.1 Overview
7.2 North America Corrugated Board Market, by Application (2020 and 2028)
7.3 Food and Beverages
7.3.1 Overview
7.3.2 Food and Beverages: Corrugated Boards Market – Revenue and Forecast to 2028 (US$ Million)
7.3.3 Processed Food Industry
7.3.3.1 Overview
7.3.3.2 Processed Food Industry: Corrugated Boards Market – Revenue and Forecast to 2028 (US$ Million)
7.3.4 Fresh Fruit and Vegetable Packaging
7.3.4.1 Overview
7.3.4.2 Fresh Fruit and Vegetable Packaging: Corrugated Boards Market – Revenue and Forecast to 2028 (US$ Million)
7.3.5 Others
7.3.5.1 Overview
7.3.5.2 Others: Corrugated Boards Market – Revenue and Forecast to 2028 (US$ Million)
7.4 E-Commerce
7.4.1 Overview
7.4.2 E-Commerce: Corrugated Boards Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Consumer Durables
7.5.1 Overview
7.5.2 Consumer Durables: Corrugated Boards Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Electricals and Electronics
7.6.1 Overview
7.6.2 Electricals and Electronics: Corrugated Boards Market – Revenue and Forecast to 2028 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Corrugated Boards Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Corrugated Board Market – Country Analysis
8.1 Overview
8.1.1 North America: Corrugated Board Market, by Key Country
8.1.1.1 US: Corrugated Board Market – Revenue and Forecast to 2028 (US$ Million)
8.1.1.1.1 US: Corrugated Board Market, by Application
8.1.1.2 Canada: Corrugated Board Market – Revenue and Forecast to 2028 (US$ Million)
8.1.1.2.1 Canada: Corrugated Board Market, by Application
9. Impact of COVID-19 on North America Corrugated Boards Market
9.1 North America: Impact Assessment of COVID-19 Pandemic
10. Industry Landscape
10.1 Overview
10.2 Merger & Acquisition
10.3 Business Planning and Strategy
10.4 Expansion & Collaboration
10.5 Product News
11. Company Profiles
11.1 Smurfit Kappa
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Klabin S.A.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 WestRock Company
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 International Paper
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Arcor
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Mondi
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 NIPPON PAPER INDUSTRIES CO., LTD.
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary
LIST OF TABLES
Table 1. North America Corrugated Boards Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. US Corrugated Board Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 3. Canada Corrugated Board Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 4. Glossary of Terms, Corrugated Board Market
LIST OF FIGURES
Figure 1. North America Corrugated Boards Market Segmentation
Figure 2. North America Corrugated Boards Market Segmentation – By Country
Figure 3. North America Corrugated Boards Market Overview
Figure 4. Food and Beverage Segment Held the Largest Share of the North America Corrugated Boards Market
Figure 5. The US Held Largest Share of North America Corrugated Boards Market
Figure 6. North America Corrugated Boards Market, Key Market Players
Figure 7. Porter ‘s Five Forces Analysis for North America Corrugated Board Market
Figure 8. Expert Opinion
Figure 9. North America Corrugated board Market – Ecosystem Analysis
Figure 10. North America Corrugated Board Market Impact Analysis of Drivers and Restraints
Figure 11. North America Corrugated Boards Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. North America Corrugated Board Market Revenue Share, by Application (2020 and 2028)
Figure 13. Food and Beverages: Corrugated Board Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Processed Food Industry: Corrugated Boards Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Fresh Fruit and Vegetable Packaging: Corrugated Boards Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Others: Corrugated Boards Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. E-Commerce: Corrugated Boards Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Consumer Durables: Corrugated Boards Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Electricals and Electronics: Corrugated Boards Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Others: Corrugated Boards Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Geographic Overview of North America Corrugated Boards Market
Figure 22. North America: Corrugated Board Market Revenue Share, by Key Country (2020 and 2028)
Figure 23. US: Corrugated Board Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Canada: Corrugated Board Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Impact of COVID-19 Pandemic on North America Corrugated Board Market
- Klabin S.A.
- International Paper
- Arcor
- Mondi
- NIPPON PAPER INDUSTRIES CO., LTD.
- Smurfit Kappa
- WestRock Company
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America corrugated boards market.
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- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the corrugated boards market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution