Demand for Corrugated Packaging Material to reach $176 billion by 2019
The global corrugated market was worth over $140 billion in 2013, amounting to almost 90 million tons of finished product according to a new market report from Smithers Pira. Demand for corrugated packaging is expected to increase by an average of more than 4% annually over the next five years and will amount to almost 115 million tons of converted material worth by 2019.
The Future of Corrugated Board Packaging to 2019 gives an overview of the state of the corrugated board industry in 2013, alongside global market forecasts to 2019, including key definitions and details of specific geographic markets.
Almost 30% of the projected volume in 2019 will be used in the packaging of processed foods, with fresh produce adding a further 10% to the total. The packaging of electrical goods, which includes mobile devices, is expected to show the most attractive growth prospects. This sector will increase its volume consumption of corrugated materials on average by 5.6% annually to 2019, representing almost 7% of the total market volume by this time.
By 2019, food packaging will consume almost 47% of the total volume of board, with processed foods accounting for 30% of the total. Electrical goods will be the single largest non-food packaging application, followed by paper products and personal and household care items.
Source: Smithers Pira