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   |||