Plastic Corrugated Packaging Market Size, Share, Growth, Trends, Revenue, Company Analysis, Regional Insights and Forecast 2021-2030

The global plastics corrugated packaging market is expected to expand almost twice the current market share during the forecast period. Plastics corrugated packaging has anti-slip properties and enhance the aesthetics of surfaces, which is likely to increase the sales of plastics corrugated packaging in the years to come.

The market is estimated to grow due to the demand from automobile, building & construction, and personal care industries. The market growth will be driven by the increasing demand for plastics corrugated packaging from the food & beverages sector and the exponential growth of the eCommerce sector worldwide. Furthermore, the pharmaceutical sector will provide abundant opportunities to players operating in the current global plastics corrugated packaging market landscape in the upcoming years, particularly during the COVID-19 pandemic. Market players should ideally focus on product development and diversification during the first half of the forecast period.

Plastics Corrugated Packaging with RFID System Likely to Provide Growth Opportunities

Plastics corrugated packaging boxes are now being offered with RFID or radio frequency identification system for tracking the product. These closed-loop plastic corrugated boxes are manufactured and introduced by Technology Container Corp. of Desoto, Texas.

TCC Techno-Box is a corrugated box made of polypropylene with the feature of self-locking bottoms and tops. These boxes are available with RFID tracking system to and can be used repeatedly for hundreds of cycles in a system. These boxes are extensively used for distribution purpose where users can track down the cycling number of the product. Furthermore, the system can provide the information of product’s location and other information. Additionally, these plastic corrugated boxes reduce the transport weight and lessen the storage issue.

Price Transmission in Crude Oil Industry to Drive Market Growth

While oil price fall has left the crude oil industry staggering, the plastics industry is relaxing. The plastic industry is strongly influenced by crude oil prices, as the plastic is mainly derived from petroleum products. This is the reason when crude oil crashed, the cost of plastic production dropped significantly and triggered a blast in production and demand.

Primary plastic product producers have hiked their product-cost by Rs. 1,000 in tune with the fluctuation in crude oil prices. Price of materials such as HDPE (High-Density Polyethylene), LDPE (Low Density Polyethylene), LLDPE (Linear Low Density Polyethylene), and PVC (Polyvinyl Chloride) have also led to crude oil price fall.

According to the analysts, cheap oil promotes production of new plastic products and it is now more cost effective than recycling the plastic.

Need for Protective Packaging in eCommerce Sector Augmenting Market Growth

• Demands from various brand owners are now being strongly felt by the packaging industry, as those brands now are in the need of secondary packaging to promote their business more intensely. This increases the requirement for manufacturers to produce corrugated plastic packaging solutions with high quality graphic design. These brand owners are grabbing opportunities through better engagement and involvement with their customers, which are driving marketing and encouraging repeat-business for attracting new customers.
• Moreover, safe and secured product delivery is the major concern of the eCommerce industry. Therefore, end users are emphasizing on protective packaging through plastic corrugated sheets and liners, which has capacity to withstand sudden jerks.
• According to VRR analysis, global online sales revenue is expected to reach $5.8 Trn by the end of 2023 that will certainly affect packaging demand and especially it will create demand for the corrugated plastic packaging products as it represents more than 70% of demand in the eCommerce sector.

Spill-proof and Non-contaminated Food and Beverage Delivery Creating Growth Opportunities

• Advancements in food processing and food packaging play a key role in boosting the plastics corrugated packaging market sales in the world. TMR team analysed that the global food industry contributes more than 52% market share. The increasing consumption of ready-to-go food products, changing lifestyles, rapidly evolving consumer habits, and ease of access are pushing the global food market to grow, which, in turn, is driving the plastics corrugated packaging market growth.
• Increased per capita personal disposable income has given birth to consumer preference on packaged food over other food. This change in consumer behavior has led to the production of more packaged food. Various Quick Service Restaurants (QSRs) such as KFC, McDonalds, are gaining traction due to its upsurge food quality and on-time delivery phenomenon.
• Furthermore, consumers are highly conscious about spill-proof and non-contaminated food delivery amid COVID-19. Unlike paper packaging, plastic corrugated packaging has good water resistance and ensures leakage safety. Moreover, such packaging solutions are made of FDA approved material, which further reduces chances of contamination due to chemical reactions.

Booming eCommerce Sector to Bolster Market Growth

The demand for plastics corrugated packaging has witnessed consistent growth due to a host of factors including the onset of cutting-edge digital printing technologies and the booming eCommerce industry. The global plastics corrugated packaging market offers critical services to businesses as well as individuals around the world– a factor that is slated to fuel market growth during the assessment period. Plastics corrugated boxes mainly cater to the demands of various end-use sectors, such as pharmaceuticals, food & beverages, tobacco, and durable goods.

The eCommerce sector has played a key role in revolutionizing the global plastics corrugated packaging market. As the eCommerce sector around the world is likely to expand at a steady pace in the upcoming years, the demand for plastics corrugated boxes is expected to remain high. While the number of eCommerce transactions, orders, and sales continue to move in the upward trajectory, market players are projected to rely on tried and testing packaging alternatives to attain these objectives.

Advancements in digital printing services and technologies are estimated to bolster the growth of the global plastics corrugated packaging market during the assessment period. The ability to personalize the various packaging systems is one of the key factors that is expected to provide a solid boost to the plastics corrugated packaging market during the assessment period.

Sustainable Packaging Initiatives and Innovative Food Packaging Solutions to Impact Market Growth

A number of packaging companies and stakeholders involved in the global plastics corrugated packaging market is expected to focus on product innovation and development to ensure compliance with regulatory guidelines. Furthermore, the increasing number of sustainable packaging initiatives and consumer uncertainty pertaining to the use of plastic could potentially have a negative impact on the growth of the global plastics corrugated packaging market. In September 2019, Amazon India announced that the company is increasingly focusing on minimizing the use of single-use plastic in the upcoming years. The increasing focus on minimizing the utilization of plastic across the packaging sector is projected to have a negative impact on the global plastics corrugated packaging market.

Key Findings

• Among materials, the polyethylene segment is estimated to account for nearly 34% value share by the end of 2020 and is likely to expand 1.3 times of current market value by 2030
• Folding boxes segment is projected to hold more than 1/4^th share of the global market during 2020-2030
• Demand for plastic corrugated packaging in food & beverages industry is expected to upsurge over the next eight years, attributing to increasing concern of safe and hygienic packaging of consumable products
• Europe market is anticipated to outpace other regions with the prominent market share and maximum incremental opportunity. However, Asia Pacific market is anticipated to lead during the forecast period.

Competition Landscape

The global plastics corrugated packaging market is highly fragmented in nature into which, larger portion of market share is held by domestic market players. Some of the key players operating in the global plastics corrugated packaging market are DS Smith Plc, Coroplast, Dynapac Co. Ltd, FlEXcon Company, Inc., Söhner Kunststofftechnik GmbH, Technology Container Corp, Minnesota Diversified Industries, Inc, American Containers Inc., Yamakoh, Co., Ltd., Samuel Grant Packaging, Amatech Inc., Twinplast, Dongguan Jianxin Plastic Products Co., Ltd., ORBIS Corporation, Androp Packaging, Inc., Shish Industries Limited, Mills Industries, Classic Enterprises Pvt Ltd Packman Packaging Private Limited, and Siddhiplast by suninfy.

The tier structure is formulated on the basis of segmental revenue and market share of the company. As per tier structure, DS Smith Plc is the tier 1 players in the plastics corrugated packaging market. All players are focusing on widening their product portfolio for multiple applications to gain competitive edge in the market. Tier 2 players include Dynapac Co. Ltd., Söhner Kunststofftechnik GmbH, ORBIS Corporation, FLEXcon Company Inc. and Tier 3 players include Coroplast, Technology Container Corp, Minnesota Diversified Industries, Inc., American Containers, Inc., Yamakoh, Co., Ltd., Samuel Grant Packaging (Sheffild), Amatech Inc., Twinplast Ltd., Dongguan JianXin Plastic Products Co.,Ltd., Androp Packaging, Inc., Shish Industries Limited, Mills Industries, Classic Enterprises Pvt Ltd, Packman Packaging Private Limited, and Siddhiplast by suninfy.

Market Segmentation

By Packaging Type

• Folding Boxes
• Trays
• Crates
• Inserts and Dividers
• Others (Bins, Racks)

By Material Type

• Polypropylene (PP)
• Polyethylene (PE)
• Polyethylene Terephthalate (PET)
• Polycarbonate (PC)
• Others (Polypropylene Carbonate [PPC], etc.)

By End-use Industry

• Food & Beverages
• Agriculture
• Healthcare
• Automotive
• Electrical & Electronics
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific (APAC)
• Middle East & Africa (MEA)

Scope of the Report

Vision Research Reports started a new study on the global plastics corrugated packaging market, providing forecast for the period of 2020-2028. In the study, growth opportunity for the plastics corrugated packaging market is witnessed. The report provides valuable insights, which enable readers to make winning business decisions for future growth of their businesses. The report highlights significant factors that are constantly determining the growth of the plastics corrugated packaging market, untapped opportunities for manufacturers, trends and developments, and other insights across various key segments. Macroeconomic factors that are directly or indirectly affecting market growth are also incorporated in the report.

Key Questions

• What will be the impact of COVID-19 on plastics corrugated packaging market?
• Which end-use industry will be the most lucrative for plastics corrugated packaging?
• What will be market size for plastics corrugated packaging by the end of 2030?
• Which is the most preferred thickness for plastics corrugated packaging in the global market?
• Which region will remain most lucrative for market growth?
• Which are the top five countries of plastics corrugated packaging market?
• Which material holds maximum market share in the global plastics corrugated packaging market?
• Who are major key players in the plastics corrugated packaging market?

Key indicators associated with the plastics corrugated packaging market have been calculated thoroughly in the report. The study enumerates vital market dynamics such as key drivers, challenges, and trends, along with opportunities in the global plastics corrugated packaging market. A comprehensive study on the value chain, which includes component suppliers, manufacturers, distributors, and end users have been incorporated in the global market report. Other key aspects laid down in the market include pricing strategy of leading market players and comparative analysis of plastics corrugated packaging. Furthermore, forecast factors and forecast scenarios of the plastics corrugated packaging market have been covered in the report to understand future prospects of the market.

A comprehensive evaluation and forecast on the plastics corrugated packaging market are provided on the basis of packaging type, material type, end-use industry, and region.

Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments are provided in the report. The plastics corrugated packaging market is analyzed at both regional and country levels.

The report delivers an exhaustive assessment on the structure of the plastics corrugated packaging market, in tandem with a dashboard view of all leading company profiles in the report. Every company’s share analysis on market players have also been presented in the report, apart from the footprint matrix of profiled market players. The report depicts the presence of plastics corrugated packaging manufacturers by leveraging an intensity map. It also highlights key end users for plastics corrugated packaging.

Research Methodology

A realistic methodology, along with a holistic approach makes the base for sharp insights, which are provided in the plastics corrugated packaging market for the study evaluation period. The TMR report comprises of detailed information on growth prospects, along with riveting insights into the forecast assessment of the market.

Extensive primary and secondary researches have been employed to garner keen insights into the forecast study of the plastics corrugated packaging market. The report has further undergone a cross-validation by in-house professionals to make the plastics corrugated packaging market report one-of-its-kind with the highest credibility.