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"The demand for corrugated boxes Market was valued at US$ 108.34 Bn in 2019. It is projected to witness a CAGR of 4.5% during the forecast period (2020-2028)."
Growing e-commerce industry is boosting the growth of various packaging formats in the market including corrugated boxes. As product safety is essential for online retailers, they prefer corrugated boxes that have proved to be an effective transit packaging. Another factor that defines the market growth is the surge in the demand for packaged food products due to lifestyle changes and rising disposable income.
Continuously rising demand of corrugated boxes from various end-users is the vital factor boosting the growth of the global corrugated boxes market. Another factor boosting the growth of corrugated boxes market is the recyclable nature of corrugated boxes and its design.
Huge demand of corrugated boxes from the food industry is also impacting the growth of the global corrugated boxes market. Electronic industry is predominate segment of corrugated boxes market as corrugated boxes provide safety to electronics and equipments.
Corrugated boxes are widely used as a secondary packaging solution to pack a variety of products in end-use industries. Growing popularity of online shopping in various regions across the globe is also contributing to the growth of corrugated boxes market. In online shopping platforms, the demand for packaging products such as corrugated boxes, which offer optimum protection and safety during shipping as well as handling, will also gain a strong foothold in the global market.
By application, food and beverage is expected to witness high demand during the forecast period (2020-2028).
In corrugated boxes market, food and beverage application segment plays a vital role in the growth of the market and accounts for the maximum revenue share. Food and beverages will remain the leading market for corrugated boxes in the forecast period, accounting for 43 percent of global demand. In addition to this, factors such as rising disposable income and health concerns among consumers in the developing countries are expected to drive the demand for corrugated boxes.
Food & beverage is one of the key sectors of market that employs contract packaging. Rapid growth in population and urbanization has led to high demand for packed and ready-to-eat food that is further expected to increase demand of the global contract packaging. Further, the high growth in the alcoholic as well as non-alcoholic beverages that employs closures, caps, bottle, can, and the pouch is expected to be a driver for this market over the forecast period (2019-2027).
Recycled Containerboard Accounted for a Significant Share of XX% of Global Corrugated Boxes Market in 2019 and is expected to remain dominant during the Forecast Period
Corrugated boxes made from containerboard and these boxes are lighter than traditional boxes. These feature high resistance to stacking, side and top pressure, and crushing. Also, these are resistant to vibration damage and enviromental changes.
Since these are lightweight, these can also be used for transportation. Consumers can save on shipping costs because of its lightweight. Also, these are very consumer friendly and consumers can cut it and fold it in an endless variety of shapes and print right on its surface for maximum shelf appeal.
In recycled containerboard, less material is used, and this material is originated from a renewable source. These lightweight containerboards are also helpful in lowering consumer’s carbon footprint. These factors boost the corrugated boxes market during forecast period.
North America Is Likely To Dominate The Global Corrugated Boxes Market During Forecast Period (2020-2028).
North america accounted for a significant share of xx% in 2018 and is expected to remain dominant during the forecast period. Various mergers and acquisitions in the region such as Westrock Company. Consolidation and mergers & acquisition is the key trend being witnessed in the region.
Also, various corrugated boxes manufacturers have adopted vairious initiatives to increase their production capacities due to the increasing demand of corrugated boxes in the retail e-commerce packaging industry.
In the global corrugated boxes market, the major key players have used various strategies such as joint ventures, acquisitions, new product launches, partnerships, agreements, expansions, joint ventures, acquisitions, and others to increase their footprints in this market.
The major key players operating in the global corrugated boxes market are Smurfit Kappa Group, WestRock Company, VPK Packaging Group nv, Nelson Container Corporation, Oji Holdings Corporation, DS Smith Packaging Limited, Stora Enso Oyj, Mondi Group Plc, Tat Seng Packaging Group Ltd., Great Little Box Company Ltd., Action Box Inc., Georgia Pacific LLC, Pratt Industries, Inc., Acme Corrugated Box Co. Inc., and Shanghai DE Printed Box.
Corrugated boxes Market Segmentation:
Global Corrugated Boxes Market by application
- Electrical & Electronics
- Textiles & Apparels
- Building & Construction
- Automotive & Allied Industries
- Personal Care & Cosmetics
- Chemicals & Fertilizers
Global Corrugated Boxes Market by Product type
- Slotted Box
- Folder Box
- Telescope Box
- Die Cut Box
Global Corrugated Boxes Market by Material type
- Virgin Containerboard
- Recycled Containerboard
Global Corrugated Boxes Market by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa