United States Corrugated Packaging Market, Size, Future, Growth, Trends

United States corrugated packaging market size was valued at USD 7.92 billion in 2022, which is expected to grow to USD 12.1 billion in 2030, with a CAGR of 5.4% during the forecast period between 2023 and 2030. The primary trends augmenting the market growth are the increasing production activities related to food & beverage products and the rising utilization of corrugated boxes to protect electrical & electronic products from impact & shock.

The increasing self-reliability targets for food products and the rising sustainability standards are the factors boosting the growth of the food & beverage industry in the United States. Likewise, the electrical & electronics industry growth in the United States is ascribed to vital variables such as rising investments in new manufacturing facilities, government subsidies, etc. Hence, the booming food & beverage and electrical & electronics industries are accelerating the demand for corrugated packaging in the United States to protect the packed content from deterioration, propelling market growth.

Significant Growth of the Food & Beverage Industry Supplements Demand

Corrugated packaging products are utilized in the food & beverage industry to minimize wastage, enhance cost-effectiveness, and increase sustainability. Corrugated packaging is employed in food & beverage products such as specialty food, dairy products, etc. Also, the rising intake of nutritional food content, increasing retail & food service, and sales of specialty food products are the vital trends spurring the United States food & beverage industry.

For instance, according to the Specialty Food Association, Inc., in 2022, the specialty food products industry in the United States was valued at USD 194 billion, an increase of 9.3% compared to 2021. Thus, expanding the food & beverage industry in the United States is boosting the demand for corrugated packaging to supply food & beverage products in superior condition, thereby driving the market growth.

Government Initiatives for the Electrical & Electronics Industry is Augmenting the Market Growth

Electrical & electronic products are fragile and highly prone to damage during the transit phase. Corrugated packaging products comprise multiple sheets of container board, which provide superior structural protection to electronic products during their transportation and storage phase. The favorable regulatory framework to accelerate the production activities related to electronic item manufacturing fosters the growth of the United States electrical and electronics industry.

For instance, in May 2022, the United States government implemented the Supporting American Printed Circuit Boards Act of 2022. The act promotes the domestic production of printed circuit boards in the United States. As a result, the pro-government measures are to accelerate the production of electrical & electronics products in the United States, fueling the demand for corrugated packaging, which is proliferating the corrugated packaging market growth.

Surging Demand for Corrugated Boxes in the United States is Accelerates Market Growth

The superior performance features of the corrugated boxes include ease of customizing, maximum protection, and biodegradability. As a result, the corrugated boxes are ideal for application in various end-use industries in the United States, including food & beverage, e-commerce, transport & logistics, etc. The increasing sustainability targets in the United States are prompting the manufacturers of corrugated boxes to develop new infrastructure for recycled corrugated box manufacturing.

For instance, in June 2023, Pratt Industries launched a USD 254 million recycled corrugated boxes manufacturing facility in Texas due to the growing demand in the country. Henceforth, the increasing demand for corrugated boxes from the various end-use industries in the United States is amplifying the market growth.

Future Market Scenario

The robust demand for corrugated packaging products such as corrugated boxes and corrugated pallets is prompting the construction of new corrugated packaging manufacturing plants across the United States. For instance, in February 2022, WestRock Company., a United States-based manufacturer of corrugated packaging products announced its plans to develop a new corrugated boxes manufacturing facility in Pacific Northwest. The focus of the company is to increase the supply of products in the Pacific Northwest region.

Moreover, Cascades Incorporation announced its plans for a new corrugated packaging plant in Washington. The primary target of Cascades Incorporation is to enhance the fresh food insulation box business for applications in ready-to-eat food, fresh seafood, and other segments. Thus, the new plant construction for expanding the production capabilities of corrugated packaging will create a lucrative opportunity for market growth in the forecast period.

The future anticipated growth of the chemical industry in the United States due to factors such as favorable trade norms and increasing demand for sustainable chemicals will fuel the production of chemical products in the United States. For instance, according to American Chemical Chemistry, the chemical industry production in the United States will register an annual growth rate of 1.2% in 2024. Therefore, the rise in the chemical output in the United States will boost the demand for corrugated packaging to ensure easy handling, which, in turn, will create a prominent potential for market growth.

United States Corrugated Packaging Market: Report Scope

"United States Corrugated Packaging Market Assessment, Opportunities and Forecast, 2016-2030F", is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative & quantitative assessment of the current state of the United States corrugated packaging market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, COVID-19 and Russia-Ukraine war impact, opportunities, and forecast between 2023 and 2030. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

Click Here:https://www.marketsandata.com/industry-reports/united-states-corrugated-packaging-market

About Us:

Markets and Data provides a comprehensive/ panoramic understanding of markets at global, regional, and country levels. Examine changing consumer preferences, emerging challenges, underlying trends, and growth prospects to accelerate your business strategies.

Contact

Mr. Vivek Gupta

5741 Cleveland street,

Suite 120, VA beach, VA, USA 23462

Tel: +1 (757) 343-3258

Email: info@marketsandata.com

Website: https://www.marketsandata.com

Markets and Data, a leading market intelligence and business consulting company