The global Corrugated Boxes Market is growing continually. The market growth attributes to the rising demand from the rapidly growing electronic and eCommerce industries worldwide. Besides, the spurting growth in the overall packaging industry drives market growth. Consumer electronics is the largest end-user industry, followed by the online sales industry due to the increasing numbers of online electronics models. Moreover, the rise in Internet and mobile penetration escalate market growth, allowing online payments and favorable demographics.
According to Market Research Future (MRFR), the global corrugated boxes market valuation is poised to reach USD 203.13 Bn by 2030, growing at 5.38% CAGR during the forecast period (2023 – 2030). Extremely durable, versatile, economical and lightweight corrugated boxes offer cost-competitive high-quality packaging solutions that can withstand mechanical stress.
Corrugated boxes provide a very high strength packaging for heavy goods and fruit & vegetables, keeping it safe, fresh while maintaining hygiene.
Various scientific researches have proven that corrugated boxes reduce the microbiological contamination risk and prolong shelf life by three days. Besides, corrugated are boxes made from up to 85% recycled materials, proving to be a great example of the circular economy. Increasing demand for corrugated boxes from the fresh food industry pushes market growth. Rapid urbanization and the growing retail sector are some of the key growth drivers for the market.
Additionally, the growing number of food franchises and rising consumer inclination towards takeaway food consumption escalate the market growth to furthered height. Also, the rising population and per capita income that increases consumer purchasing power increase the market size. Moreover, the growing applications in burgeoning industries, such as personal care, food & beverages, pharmaceuticals & healthcare, and paper industry, boost market growth.
Simultaneously, the restricted use of plastic Boxes material has become a primary reason for the rising demand for corrugated packaging. Moreover, government initiatives to promote eco-friendly packaging materials and CPA initiatives (The Corrugated Boxes Alliance) with the mission to encourage corrugated packaging solutions provide an additional impetus to the corrugated boxes market growth.
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Global Corrugated Boxes Market – Geographical Analysis
The Asia Pacific region leads the global corrugated boxes Market Opportunity Analysis. The largest market share attributes to the booming food & beverage and pharmaceutical industry in the region. Besides, the burgeoning e-commerce industry, increasing cross-border trade, and massive demand for corrugated boxes from the online shopping sector drive the regional market growth.
Moreover, the retail sector in countries such as India, Malaysia, Indonesia, and China, propel market demand. The rapidly growing packaging industry substantiates regional market growth. The APAC corrugated boxes market is projected to retain its dominance throughout the estimated period.
North America holds a second-significant share in the global corrugated boxes market. The market is driven by the strong presence of industry players and packaging solution providers. These manufacturers strengthen their market position through strategic alliances to expand their global presence and develop new packaging solutions for their customers. The US holds a significant share in the regional market. The North American corrugated boxes market is expected to register a substantial CAGR during the assessment period.
Global Corrugated Boxes Market – Segments
The report is segmented into four dynamics;
By Type : Rigid Boxes, Self-Erecting Boxes, Telescope Boxes, Slotted Boxes, and others.
By Wall Construction: Single-Wall, Double-Wall, and Triple-Wall.
By Application : Food & Beverages, Electronic Goods, Pharmaceuticals, Personal Care, and others.
By Regions : Americas, Europe, APAC, and Rest of the World.
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Global Corrugated Boxes Market – Competitive Analysis
Highly competitive, the corrugated boxes market appears fragmented. Several big & small players alongside the new entrants form a competitive landscape. To gain a significantly larger competitive share, notable players incorporate strategic initiatives such as collaboration, mergers & acquisitions, expansion, and product/technology launch. They invest substantially in the development of new products and technologies. Industry players are keen on ecological norms and to reduce both cost and wastage.
Manufacturers reinforce corrugation inside the panels without affecting the containers’ strength or durability to achieve their goals. To survive and create new markets, industry players rely on innovations and strategic partnerships. They keep themselves abreast of the latest technological developments and latest consumer trends by developing human capital.
Major Players
Players leading the global corrugated boxes market include Smurfit Kappa Group, Mondi Group, International Paper, DS Smith, Orora Packaging Australia Pty Ltd, Nefab Group, Georgia-Pacific LLC, WestRock, Archis Packaging (India) Pvt. Ltd, Packaging Corporation of America, and Europac Group, among others.
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Industry/ Innovation /Related News:
August 21, 2020 —- Friends Box Factory (India), a leading provider of corrugated boxes, announced investments in the deployments of an array of finishing and corrugation machines to reinforce automation to improve the production quality and decrease its dependency on manual operation. The company has taken this decision to provide its customers with an economical price range, quick & fast after-sales service, and perfect guidance on packaging solutions.
The company has installed a die-cutter and five-ply servo-controlled flute laminator. Friends Box Factory has also, ordered an upgraded version of a five-ply servo-controlled flute laminator, die-cutter with lead edge feeder, AB pasting machine, and automatic double head stitching machine.
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