Meticulous Research®, a leading global market research company, has published a comprehensive report titled, "Corrugated Packaging Market by Type (Single Wall, Double Wall, Triple Wall), Packaging Type (Slotted, Telescope, Fold Type & Tray), End Use Industry (Food & Beverages, Consumer Products, Pharmaceutical), and Geography - Global Forecast to 2031."

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1.1 MARKET GROWTH PROJECTIONS
According to this latest publication, the global corrugated packaging market is projected to reach $206.3 billion by 2031, growing at a CAGR of 4.4% from 2024 to 2031. The market expansion is primarily driven by the rapidly growing e-commerce sector, increased use of transit packaging in the food & beverage industry, and the burgeoning packaging industry in the Asia-Pacific region. However, market growth is restrained by increasing overall packaging costs due to dynamic regulatory policies and fluctuations in raw material prices.

1.2 EMERGING OPPORTUNITIES AND CHALLENGES
The rising demand for sustainable and customizable packaging solutions presents significant growth opportunities for stakeholders in this market. Nonetheless, the additional distribution channel costs pose a major challenge to the market's growth.

1.3 MARKET SEGMENTATION
1.3.1 By Type
• Single-Face Corrugated
• Single-Wall Corrugated
• Double-Wall Corrugated
• Triple-Wall Corrugated
In 2024, the single-wall corrugated segment is expected to dominate the market with a share exceeding 53%. This dominance is attributed to the emphasis on sustainable packaging solutions, the use of single-wall material to reduce packaging weight and shipping costs, and the growing trend of Fit-to-product (FtP) packaging, which minimizes void space and provides sufficient protection for lightweight and fragile e-commerce products. This segment is also projected to register the highest CAGR during the forecast period.

1.3.2 By Packaging Type
• Slotted (Regular Slotted Container, Half Slotted Container)
• Full Overlap Container (FOL)
• Telescope
• Fold Type & Tray
• Other Packaging Types
The slotted segment is anticipated to hold the largest market share of over 58% in 2024, driven by the growing demand for sustainable and eco-friendly packaging solutions. The versatility of regular slotted containers, which can be customized to fit a wide range of e-commerce products, is a key factor contributing to this segment's growth. The slotted segment is also expected to experience the highest CAGR during the forecast period.

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1.3.3 By End-Use Industry
• Personal Care & Cosmetics
• Consumer Products
• Pharmaceutical
• Food & Beverage
• Nutrition & Health Supplements
• Home Care
• Stationery Items
• Other End-Use Industries
The food & beverage segment is projected to capture the largest market share of over 42% in 2024. This growth is driven by the increasing use of corrugated boxes for packaging in the food & beverage industry, evolving food consumption habits and preferences, and stringent regulations and consumer pressure to reduce plastic use in food packaging. A notable development in this segment includes Cascades Inc.'s launch of eco-friendly packaging made of recycled and recyclable corrugated cardboard in January 2023. This segment is also expected to register the highest CAGR during the forecast period.

1.4 REGIONAL INSIGHTS
The corrugated packaging market is segmented into:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

In 2024, Asia-Pacific is expected to lead the market with a share of over 55%. The region's market growth is driven by the expanding transit packaging market, rising disposable incomes and consumer spending, a significant presence of global corrugated packaging manufacturing capacity, and the rapidly growing e-commerce sector. Countries such as China, Vietnam, Indonesia, and Thailand are experiencing increased demand for high-value corrugated packaging solutions, contributing to the region's projected highest CAGR of over 6% during the forecast period.

1.5 LEADING MARKET PLAYERS
The key players operating in the global corrugated packaging market include:
• Smurfit Kappa Group plc (Ireland)
• Mondi Group plc (U.K.)
• Packaging Corporation of America (U.S.)
• WestRock Company (U.S.)
• DS Smith Plc (U.K.)
• International Paper (U.S.)
• Rengo Co., Ltd. (Japan)
• Nine Dragons Paper (Holdings) Limited (China)
• Georgia-Pacific LLC (U.S.)
• Lee & Man Paper Manufacturing Ltd. (China)
• Oji Holdings Corporation (Japan)
• Greif, Inc. (U.S.)
• Nefab AB (Sweden)
• Sonoco Products Company (U.S.)
• GWP Group (U.K.)

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