Corrugated packaging involves using corrugated fiberboard sheets to produce boxes for protecting and transporting goods. It provides advantages like durable, lightweight and cost effective. Corrugated packaging is widely used for packaging of consumer goods, household goods, food & beverages and personal care products. Growing organized retail market and rapid growth of e-commerce sector is driving the demand for corrugated packaging.
The Global Corrugated Packaging Market Size is estimated to be valued at US$ 1.00 Bn in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Malaysian corrugated packaging are Sarnti Packaging Co., Ltd., Toppan Printing Co., Ltd., Bobst Group SA, SCG PACKAGING., Huhtamaki Group and Among Others. These players are focusing on capacity expansion and new product development to meet the growing demand. For instance, in 2022, SCG PACKAGING announced plans to expand its manufacturing facility in Malaysia.
The demand for corrugated packaging is growing significantly owing to increasing trade activities and consumption of packaged foods. Growing demand from key end-use industries like food & beverages, consumer goods and e-commerce is fueling the market growth. Rapid growth of manufacturing sector and export market is also driving the corrugated packaging demand.
Technological advancement in corrugated packaging machinery helps in enhancing production efficiency. Introduction of smart and automated packaging solutions is positively impacting the market. Growing popularity of sustainable packaging is propelling the demand for corrugated packaging as it utilizes recyclable raw materials.
Market Trends
Increasing focus on sustainability: Rising environmental concerns due to plastic waste is prompting end-users to shift towards sustainable and eco-friendly corrugated packaging solutions. Manufacturers are focusing on developing biodegradable and recyclable corrugated products.
Digital printing technology: Adoption of digital printing technology allows manufacturers to customize the packaging as per customer demands. It helps in enhancing brand visibility and promotions through digital graphics and imagery on corrugated boxes.
Market Opportunities
E-commerce sector growth: Rapid expansion of e-commerce and online retail industry is expected to offer significant opportunities. E-tailers prefer corrugated boxes for shipping fragile and lightweight products safely.
Demand for customized solutions: Manufacturers can gain large opportunities by offering innovative and tailored corrugated packaging solutions to various end-use industries. Growing trends like smart and interactive packaging present new avenues.
Impact of COVID-19 on Malaysia Corrugated Packaging Market:
The outbreak of COVID-19 has significantly impacted the Malaysia corrugated packaging market. During the initial lockdown phase, manufacturing units and factories witnessed a major decline in production and supply chain activities were disrupted. This adversely affected the demand for corrugated packaging in industries like food, beverages, electronics and e-commerce. However, with the shifting demand toward packaged foods and medical supplies, the packaging sector experienced a gradual recovery in the later part of 2020. The growing focus on healthcare and safety measures also boosted the demand for corrugated boxes for safer doorstep deliveries. Looking ahead, the market is estimated to grow steadily, backed by the expansion of e-commerce platforms and wider acceptance of online shopping trends in the post pandemic scenario. While inventory management and material costs remain key challenges, innovative product developments focusing on sustainability and protection would help drive future growth prospects for industry players.
Geographical Concentration of Malaysia Corrugated Packaging Market:
In terms of value, the Malaysia corrugated packaging market remains concentrated in the highly industrialized states of Selangor, Kuala Lumpur and Johor due to robust manufacturing activities. Selangor generates the highest demand owing to the concentration of major food, beverage and electronics companies in the state. Kuala Lumpur being the administrative and economic capital of the country also accounts for a sizable share. Meanwhile, Johor state located in the southern region witnesses steady growth backed by rising exports and foreign investments in industries such as automotive, oil and gas equipment manufacturing. With improving infrastructure and connectivity, states in the eastern coast like Pahang and Terengganu are emerging as promising markets in recent years.
Fastest Growing Region for Malaysia Corrugated Packaging Market:
The east coast region of Malaysia comprising states like Pahang, Terengganu and Kelantan has emerged as the fastest growing market for corrugated packaging over the last 5 years. Led by the ongoing industrialization initiatives under Malaysia's Industrial Master Plan, many new manufacturing units are coming up in these states. For instance, PETRONAS' Refinery and Petrochemical Integrated Development (RAPID) project in Johor and Sabah Oil and Gas Terminal (SOGT) project are boosting industrial activity and investments. Additionally, booming exports of oil &gas equipment and electrical components from industrial parks in Pahang is driving the demand for corrugated boxes. With infrastructure gaps being addressed, manufacturers are upbeat about the region's growth potential. This makes the east coast region the most attractive market for corrugated packaging players seeking new expansion avenues.
What Are The Key Data Covered In This Malaysia Corrugated Packaging Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Malaysia Corrugated Packaging Market's growth between 2024 and 2031.
:- Accurate calculation of the size of the Malaysia Corrugated Packaging Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Malaysia Corrugated Packaging Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Malaysia Corrugated Packaging Market vendors
FAQ’S
Q.1 What are the main factors influencing the Malaysia Corrugated Packaging market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Malaysia Corrugated Packaging Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Malaysia Corrugated Packaging market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
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