South East Asia Corrugated Packaging Market Size (2024 - 2029)

The Southeast Asian corrugated packaging market is experiencing growth driven by increased environmental awareness, demand for sustainable and convenient packaging, and the expansion of the e-commerce sector. Countries like Indonesia, Thailand, Vietnam, and the Philippines are significant contributors to the region's market size, benefiting from economic development and rising per capita income. The COVID-19 pandemic has further accelerated the demand for corrugated packaging due to its use in transporting essential goods. However, the pandemic has also led to delays in financial activities for some packaging firms in the region.

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Market Size of South East Asia Corrugated Packaging Industry

South East Asia Corrugated Packaging Market
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.00 %

Major Players

South East Asia Corrugated Packaging Market Major Players

*Disclaimer: Major Players sorted in no particular order

South East Asia Corrugated Packaging Market Analysis

The Southeast Asian Corrugated Packaging Market is expected to register a CAGR of approximately 4% during the forecast period (2021 - 2026). According to International Corrugated Case Associations, the Asia-Pacific region represents the most significant and fastest-growing corrugated packaging market globally, accounting for 53.7% of production and shipments in 2018. The southeast Asian countries, such as Indonesia, Thailand, Vietnam, and the Philippines, contributing to more than 30% of corrugated packaging.

  • The reason for accelerated growth of the corrugated packaging market in the South East Asian region is an increase in environmental awareness by urban populations, demand for sustainable packaging, demand for convenient packaging (offset by new restrictions on single-use in some countries), growing E-commerce market, rise in the need for electronic goods and home and personal care products along with economic development and increasing per capita income.
  • Furthermore, e-commerce firms have benefited from additional savings by using corrugated board-based packaging. According to a study, the corrugated board can achieve savings from 7% - 36%. This depends on the box size and can manufacture boxes with a 30% greater stacking strength and crush resistance while using lighter-weight materials for the bottom panel of the box.
  • Moreover, the rising penetration of the E-commerce sector in the South East Asian countries such as Indonesia, Thailand, and Singapore, is paving the way for corrugated packaging in the region. For instance, according to CLSA, the number of online shoppers in Indonesia will increase from 20 million in 2017 to 65 million in 2021.
  • With the outbreak of COVID-19, the demand for corrugated board packaging in the region is witnessing significant growth due to transport packaging flowing of essentials products such as packaging for food and other consumer products, medical and pharmaceutical products, tissue and hygiene products.
  • But the Covid-19 has postponed many financial and non-financial related activities of the Corrugated packaging firms in the region. For instance, Thailand's SCG Packaging has postponed its USD 1 billion initial public offerings (IPO) due to the coronavirus Covid-19 outbreak rattling global financial markets.

South East Asia Corrugated Packaging Industry Segmentation

  • Corrugated board packaging is a versatile and cost-efficient method to protect, preserve, and transport a wide range of products. Attributes, such as light-weight, biodegradability, and recyclability, are the advantages of this packaging that make it an essential component in modern life.
  • The market has been segmented by the end-user industry (Food and Beverage, Cosmetics and Household Care, Manufacturing and Automotive, Healthcare and Pharmaceutical, Other End-User Industry (Electrical and Electronics, Others)
  • The study also covers the impact of COVID-19 on the market.
By End-user Industry
Food and Beverage
Cosmetics and Household Care
Manufacturing and Automotive
Healthcare and Pharmaceutical
Other End - User Industry (Electrical and Electronics, Others)
By Country
Indonesia
Thailand
Malaysia
Singapore
Other Countries
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South East Asia Corrugated Packaging Market Size Summary

The Southeast Asian corrugated packaging market is experiencing significant growth, driven by increasing environmental awareness and the demand for sustainable and convenient packaging solutions. This growth is further fueled by the expanding e-commerce sector and the rising need for packaging in electronic goods, home, and personal care products. The region's economic development and increasing per capita income also contribute to the market's expansion. The COVID-19 pandemic has further accelerated the demand for corrugated packaging, particularly for transporting essential goods such as food, medical, and pharmaceutical products. However, the pandemic has also led to delays in financial activities within the industry, impacting some companies' expansion plans.

Countries like Indonesia, Thailand, and Vietnam are at the forefront of this market growth, with Indonesia expected to dominate due to its increased adoption of corrugated packaging solutions. The competitive landscape is moderately fragmented, with several regional players forming strategic partnerships to enhance their market presence. Companies are also investing in expanding their manufacturing capacities to meet the growing demand. The use of corrugated packaging in the food and beverage sectors is particularly notable, as it offers cost-effective and sustainable packaging solutions that meet industry regulations and consumer preferences.

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South East Asia Corrugated Packaging Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Strong demand From the E-commerce Sector

      2. 1.2.2 Growing Adoption of Light Weighting Materials & Scope for Printing Innovations Propelling Growth in Electronics & Personal Care Segment

    3. 1.3 Market Restraints

      1. 1.3.1 Concerns Over Material Availability & Durability of Corrugated Board-based Products

    4. 1.4 Market Opportunities

    5. 1.5 Industry Supply Chain Analysis

    6. 1.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.6.1 Bargaining Power of Suppliers

      2. 1.6.2 Bargaining Power of Buyers/Consumers

      3. 1.6.3 Threat of New Entrants

      4. 1.6.4 Threat of Substitute Products

      5. 1.6.5 Intensity of Competitive Rivalry

    7. 1.7 Impact of COVID-19 on Corrugated Packaging Industry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By End-user Industry

      1. 2.1.1 Food and Beverage

      2. 2.1.2 Cosmetics and Household Care

      3. 2.1.3 Manufacturing and Automotive

      4. 2.1.4 Healthcare and Pharmaceutical

      5. 2.1.5 Other End - User Industry (Electrical and Electronics, Others)

    2. 2.2 By Country

      1. 2.2.1 Indonesia

      2. 2.2.2 Thailand

      3. 2.2.3 Malaysia

      4. 2.2.4 Singapore

      5. 2.2.5 Other Countries

South East Asia Corrugated Packaging Market Size FAQs

The South East Asia Corrugated Packaging Market is projected to register a CAGR of 4% during the forecast period (2024-2029)

Sarnti Packaging Co., Ltd. , Toppan Printing Co., Ltd., Bobst Group SA, SCG Packaging Pcl and Huhtamaki Group are the major companies operating in the South East Asia Corrugated Packaging Market.

South East Corrugated Packaging Market Report Snapshots

South East Asia Corrugated Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)