Corrugated Boxes Market 2023 Business Opportunity, Top Companies, Challenges And Opportunities 2030
The corrugated boxes market is garnering substantial traction across the globe. Factors such as the rising demand from rapidly growing electronic and eCommerce industries and the spurring rise in the overall packaging industry worldwide drive market growth. Consumer electronics is the largest end-user industry, while the online sales industry stands second, led by the increasing numbers of online electronics models.
Additionally, the proliferation of Internet, mobile phones, and online payments escalate market growth. According to Market Research Future (MRFR), the global Corrugated Boxes Market valuation is poised to reach USD 308.92 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 research has proved corrugated boxes reduce the microbiological contamination risk and prolong shelf life by three days. Also, 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. Furthermore, the growing number of food franchises and rising consumer inclination towards takeaway food consumption escalate the market growth to furthered height. Additionally, the rising population and per capita income increase the market size.
Moreover, the growing applications in burgeoning industries, such as personal care, food & beverages, pharmaceuticals & healthcare, and paper industry, boost the market growth. Simultaneously, the restricted use of plastic Boxes material has become a primary reason for the rising demand for the corrugated packaging industry. Government initiatives to promote eco-friendly packaging materials and CPA initiatives provide an additional impetus to the corrugated boxes market growth.
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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Corrugated Boxes Market – Regional Analysis
The Asia Pacific region leads the global Corrugated Boxes Market. 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 led 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 – Segmentations
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.
Corrugated Boxes Market – Competitive Landscape
Highly competitive, the Corrugated Boxes Market Demand Trends 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.
Industry/ Innovation /Related News:
November 05, 2020 ---- Procos S.p.A. (Germany), a leading high-end packaging company, introduced a flexible packaging solution for the gifting season with its Yoga boxes, designed for e-commerce and beauty brands. Procos' boxes are made from 100% recyclable cardboard and designed to create an enhanced opening experience.
Each box consists of two parts, a simple outer shipping box made from corrugated cardboard, which can then be customized with the client's desired colors, patterns, and prints; and a contrasting gift-like inner box which houses the product, and can be embossed, photo printed and given a matte or glossy finish. These new boxes provide a new shopping experience for consumers, allowing products to be shipped to clients flat to save space and then assembled before being shipped to the end user and providing an enhanced experience for customers when unboxing items they have ordered online.
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