Global Corrugated Box Market Forecast 2023-2033: Key Drivers and...

Global Corrugated Box Market Forecast 2023-2033: Key Drivers and Challenges

Posted 2024-01-02 09:48:41

Introduction

In today’s fast-paced world, efficient packaging plays a pivotal role in various industries, ranging from e-commerce to food products. Among the wide array of packaging solutions, corrugated boxes have gained significant popularity due to their durability, versatility, and eco-friendly nature. The Corrugated Box Market has witnessed remarkable growth, driven by changing consumer preferences and the rise of online shopping. This article takes an in-depth look at the market trends, growth factors, and future prospects of the corrugated box industry.

Corrugated Box Market: Understanding the Essentials

Corrugated boxes, also known as cardboard boxes, are crafted from a combination of three layers of paper: an inner layer called the flute, a middle layer known as the medium, and an outer layer for protection. This ingenious design imparts exceptional strength, making corrugated boxes ideal for transporting and storing various products securely.

Globally, the corrugated box market is set to witness substantial growth with an estimated CAGR of 4.3% between 2023 and 2033, propelling its value from US$ 140.4 billion in 2023 to an impressive US$ 213.9 billion by 2033.

Get our Sample Report to discover how recent industry developments, like: https://www.futuremarketinsights.com/reports/sample/rep-gb-302

The Major Key Payers Are:

Mondi Group Plc
Bee Packaging
DS Smith Packaging Limited
Oji Holdings Corporation
Smurfit Kappa Group Plc
International Paper Company
others

Recent Developments by the Corrugated Box Industries

Mondi announced the addition of a new product, BCoolBox, to its sustainable e-commerce portfolio on 1st February 2021, which could include fresh produce and food. It is a packaging solution made up of a corrugated range with thermo-insulation that is might keep food cold without having to rely on external cooling. As per the company, this new solution is designed to keep stored commodities at a consistent temperature of fewer than 7 degrees for 24 hours.
International Paper completed the acquisition of two state-of-the-art corrugated box plants in Spain in March 2021. By acquiring this company, the company is likely to be able to enhance its capabilities in Madrid and Catalonia. Regarding EMEA, the corrugated box business is of strategic importance for the company. With a focus on fruit and vegetable packaging and e-commerce solutions, it offers high-quality packaging solutions in the industrial segment. The two businesses have been part of International Paper since April 1, 2021.

Key segments

By Material Type: