The chipboard packaging market has experienced significant growth, expanding from $11.19 billion in 2023 to $12.17 billion in 2024 at a CAGR of 8.8%. This growth is driven by environmental awareness and the rise of e-commerce. By 2028, the market is projected to reach $17.14 billion, influenced by technological improvements in manufacturing and retail-ready packaging innovations.
Major Driver In The Chipboard Packaging Market
The chipboard packaging market is likely to see substantial growth due to the expansion of e-commerce. The increasing preference for online shopping, fueled by social media and convenience, is creating a greater need for protective and lightweight packaging solutions. In May 2024, U.S. retail e-commerce sales for Q1 2024 reached $289.2 billion, marking a 2.1% increase compared to Q4 2023. This rise in e-commerce activity is propelling the chipboard packaging market.
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Chipboard Packaging Market Competitive Landscape
Graphic Packaging International LLC, Mayr-Melnhof Karton AG, Elopak, Great Northern Corp., RTS Packaging LLC, Associated Bag Co., Deluxe Packaging Inc., PakFactory Inc., Carton Service Inc., Neway Packaging Corporation, Alpha Packaging Inc., Riverside Paper Co. Inc., Peek Packaging Inc., Ameripak CO., Stamar Packaging Inc., Multicell Packaging Inc., Mankato Packaging Co., Quality Support LLC, Imperial Printing & Paper Box Mfg. Co., Romiley Board Mill, Canpaco Inc., Classic Packaging Corp., Complete Finishings Inc., Imperial Paper Company, Marion Paper Box Company
Key Chipboard Packaging Market Trend
Companies in the chipboard packaging market are developing advanced packaging platforms to enhance customer service. In January 2022, Amcor Plc launched the AmFiber platform, designed to upgrade traditional paper packaging with improved features. This innovation aligns with Amcor's focus on flexible, consumer-oriented solutions, offering high-quality packaging technology tailored to various material needs.
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Chipboard Packaging Market Segmentation
The chipboard packaging market covered in this report is segmented –
1) By Product: Folding Cartons, Rigid Boxes, Inserts And Dividers, Display Packaging, Specialized Packaging, Chipboard Pads
2) By Category: Brown, White
3) By Application: Food And Beverage, Pharmaceuticals, Electronics, Jewelry, Cosmetics, Personal Care, Household And Decorative, Other Applications
By Geography:The regions covered in the chipboard packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the chipboard packaging market in 2023.
The Chipboard Packaging Global Market Report 2024 furnishes information about the global chipboard packaging market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
