The EMEA Corrugated Board Packaging Market is expected to grow at a CAGR of 5.7% over the forecast period 2022 to 2031.
– Factors such as growing demand for fresh food & beverages, home & personal products, logistics application, electronic goods, building consumer awareness towards sustainable packaging, and growth of the e-commerce industry has led to a regular progression in the corrugated box demand in EMEA during the review period.
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– For example, according to Goldman Sachs, e-commerce sales as a percentage of the gross domestic product in the Middle East, and Africa increased from 0.04% in 2009 to 0.12% in 2018. In 2013, B2C e-commerce accounted for 0.07% of the GDP in the Middle East and Africa.
– Multiple firms have been growing their reach with a rise in manufacturing capabilities within EMEA. For instance, in April 2022, DS Smith opened a new manufacturing plant in Lebanon. The plant is dedicated to producing corrugated packaging boxes. The 550,000 sq. Ft facility can provide 30,000 boxes/hour and 2 billion sq. Ft of recyclable packaging a year. This expansion increases the company’s manufacturing capabilities.
– Germany has ruled the European corrugated box market. Pharmaceutical, Automotive, Food, and Electronics industries are the principal industries present in the country, and therefore, the need for corrugated boxes from these industries is high.
– For instance, as per the Federal Statistical Office of Germany, it is projected that the revenue of the manufacture of corrugated paper and paperboard and containers of paper and cardboard in Germany will amount to approximately 24.03 USD billion by 2023.
– Corrugated packing is among the most cost-effective packaging solutions for various industries. However, specific limitations such as low strength and poor barrier properties of corrugated material restrict its use in many applications in the region.
– Moreover, moist and humid weather decreases the firmness and strength of corrugated boxes. Corrugated packing also has poor fire resistibility. Hence, the low strength of corrugated materials and poor barrier properties hinders the corrugated packaging market growth.
Key Market Trends
Processed Foods Segment to Occupy Significant Market Share
– The need for convenience foods is anticipated to grow owing to the busy lifestyle of people in the EMEA. Hence, processed food, which gets cooked in a short while does attract consumers. The growing population is also expected to drive the demand for processed food, which is convenient as well as healthy.
– According to Natural Products Global, consumers in the UK buy more ultra-processed food than any others in Europe, amounting to 50.7% of the diet. But several other countries aren’t far behind – Germany at 46.2%, Ireland 45.9%, Belgium 44.6%, and Finland 40.9%. Generally, countries in southern Europe have lower levels of ultra-processed food in the diet – Portugal at 10.2%, France 14.2%, Italy 13.4%, and Greece at 13.7%.
– According to Statbel, in 2018, there was nearly 8,000 VAT paying companies producing food in Belgium. Of these companies, just under 4,600 produced bakery and dough products, making it the largest subsector in the food manufacturing industry in Belgium. Furthermore, there were almost 1,000 companies producing meat products.
– The increasing realization among users regarding the practice of environment-friendly products is anticipated to drive the demand for the corrugated board packaging market in EMEA, over the forecast period.
– Government drives for stimulating eco-friendly packaging materials, coupled with the efforts from CPA (The Corrugated Packaging Alliance), a corrugated industry initiative, with an aim to strengthen corrugated packaging are providing an added stimulus to the growth of this market.
Beverage Segment is Expected to Hold Significant Share
– The beverage industry plays an indispensable role in the EMEA region. The principal determinants pushing the beverage industry’s growth in the area incorporate a steadily growing population and per capita revenue and improving lifestyle.
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– Determinants, such as huge disposable income, the comfort of availability, advancement in living standards wide variety, and attendance of domestic as well as global companies in the market, are feeding the beverages industry in the region. For example, according to trading economics, customer spending in Germany rose to EUR 428.5 billion in the last quarter of 2019, from EUR 419.9 billion in the previous quarter of 2018.
– Many of the preeminent brands in Europe have a family of fruit and sweet-flavored non-alcoholic beverages, and these are the most prevalent products. Additionally, the EMEA has launched an initiative that promotes businesses to cut sugar, salt, and fat content in food and beverages. Companies that have vowed to follow this include Mars and Nestle, among others. All these factors are consequently fueling the growth of the market.
The EMEA Corrugated Board Packaging Market is highly fragmented, with many companies giving corrugated board packaging solutions. The market is dominated by players, including International Paper, DS Smith, Smurfit Kappa, Mondi, WestRock, Saica, Model, and Dunapack packaging. The market is set for consolidation as the big players acquire small players to expand their presence and revenue throughout and outside EMEA. Mergers & acquisitions have been prevalent in the considered space and are supposed to prevail in the times to come. Businesses are continually innovating to develop sustainable packaging and are rendering environment-friendly packaging goods. To leverage the opportunities, firms are releasing corrugated box designs for various end-user industries.
– June 2022 – Modi Plc announced the EUR 7 million investment in state-of-the-art paper sack converting machine at Mondi’s plant in Nyíregyháza, Hungary. The machine will increase the plant’s quality, efficiency, and service standards to produce high-end and sophisticated paper sacks for food purposes.
– July 2019 – International Paper announced that the company successfully completed the acquisition of two corrugated packaging facilities located in Portugal (Ovar) and France (Torigni and Cabourg) from DS Smith for EUR 63 million (USD 71 million) on June 28, 2019. This transaction is related to the European Commission’s requirements for clearance of DS Smith’s acquisition of Europac.
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