• Sonoco Products average gross margin for 2023 was 20.5%, a 4.43% increase from 2022.
• Sonoco Products average gross margin for 2022 was 19.63%, a 0.36% increase from 2021.
• Sonoco Products average gross margin for 2021 was 19.56%, a 1.21% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.