The innovation of inkjet printing equipment helps to provide finished printed products, labels and packaging more effectively, so that the share of inkjet printing in the printing and packaging market has steadily increased.
Labels become a key growth area.
From the perspective of market segments, labels will become a key growth area in the thermal printing market. More and more receipt labels are required for online ordering services such as fast food restaurants, and the market share of thermal printing in these areas will increase.
Corrugated packaging back to growth track
Environmental performance brings new opportunities
The " Future of Global Corrugated Packaging by 2029 " report shows that the corrugated packaging market will show signs of recovery and return to growth in 2024, following a 7 % and 8.5 % decline in global cardboard market consumption in 2022 and 2023, respectively.
According to the report, in 2023, the global boxboard paper production reached 183.4 million tons, down 4 % compared with 2022. Among them, about 165 million tons of boxboard paper were consumed, 7 % less than in 2022, and the market size was USD 224.4 billion. This result is related to the impact of the novel coronavirus pandemic in 2020. The uncertainty of global logistics and other factors affect the demand for corrugated packaging, and price fluctuations lead to high inventory.
The report predicts that in 2024, the global corrugated packaging market is expected to rebound slightly, and the market size will grow to USD 231.7 billion. Since then, the global demand for corrugated packaging is expected to grow at a compound annual growth rate of 2.5 %. In 2029, the global corrugated packaging production is expected to reach 190 million tons. According to the current price, the market size will reach USD 277.6 billion.
In the next five years, the demand for corrugated paper packaging in various fields is different. Since 2016, the consumption of corrugated packaging materials in the field of food packaging and transportation has maintained a relatively stable level. In 2023, the consumption of corrugated packaging materials in this field accounted for more than 46 % of the total consumption. It is expected that there will be a slight increase in 2029, reaching 47 %. At the same time, the demand for corrugated packaging in the field of processed food will surge, and the demand for corrugated packaging in the field of fresh food and agricultural products will be relatively stable.
At the same time, the environmental performance of corrugated packaging will bring more opportunities. The report shows that in the field of transportation packaging, corrugated packaging materials are increasingly favored by brands and legislators due to their recyclability. This also promotes processors to tend to produce finer and higher-quality corrugated packaging, and compete with folding carton packaging in the fields of cosmetics and electronic products. The EU 's ' Packaging and Packaging Waste Regulations ', which prohibits specific single-use plastics by 2030, will also bring opportunities for the development of corrugated packaging. The report also shows that the potential of corrugated packaging in the food sector will be further stimulated if oil-repellent coatings that do not contain perfluorinated and polyfluoroalkyl substances can be integrated into existing corrugated board production lines.
