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Global corrugated packaging set to grow to £270bn by 2023

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Global corrugated packaging set to grow to £270bn by 2023

The global corrugated packaging market is set to grow to almost $383bn (£270bn) by 2023, with e-commerce providing a prime area of future opportunities.

This is according to new Smithers Pira research, which said the market is currently worth $315bn (£222bn).

The corrugated packaging market overall totalled an estimated 145 million tonnes in 2017, and is forecast to grow to almost 181 million tonnes in 2023

With more than $20bn (£14bn) worth of corrugated materials are used in e-commerce sector, Smithers Pira said this sector is set to expand at a rapid compound annual growth rate (CAGR) of 14.3% from 2017 through to 2022.

This compares to a CAGR of 2.9% for packaging overall in 2017-22.

E-commerce packaging – including corrugated packaging, as well as flexible packaging, and protective and transit packaging – will total nearly $55bn (£39bn) in 2022, according to the report.

 

| A PackagingNews release  |  ||  April 13, 2018   |||

 

 

 

 

 

Published in PACKAGING
Tagged under
  • Packaging
  • factory floor articles
  • industry talk
  • factory floor
  • interesting

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