The corrugated box industry is an inevitable part of manufacturing sectors which rely heavily on ample corrugated boxes for finished goods transportation and handling. Corrugated boxes are available in various shapes and sizes and are extensively used in the boxes of various goods such as foods, beverages, cosmetics, pharmaceuticals, hazardous chemicals and other materials. The growth of corrugated boxes market is influenced by the growing trend of the online shopping, rapid growth in the electronic sector and growing demand for product safety. Government regulation for corrugated boxes and adverse effects on the environment are expected to hinder the growth of the corrugated boxes market.
The continuous growth of the online shopping market is fuelling the overall growth of the corrugated boxes market. The ease of online shopping such as faster delivery, easier return policies, and free shipping, have made many customers switch from the traditional methods of shopping. The strong consumer demand for high variety in products and the availability of different kinds of goods, together drive the growth of online shopping market. Whereas, developing countries such as China, India, Indonesia, Thailand, Vietnam, and Mexico have the largest disposable income, due to which there is a significant growth in the manufacturing and service industries here. The higher disposable income in these developing countries, results in the increase in purchasing power. As a result, corrugated boxes market has been impacted, positively.
The latest trend gaining momentum in the market is the advancements in printing. The online retail market is decreasing the need for high-quality printed secondary boxes. Demand will be driven by growing use of corrugated boxes for product boxes and transportation in developing areas, and by strong growth in e-commerce and retail-ready boxes in developed countries.
Global corrugated boxes has very broad market in coming recent years. MRFR analysts has predicted that food & beverages and consumer goods industry are about to grow at a rapid pace, moreover, the speedy rising ecommerce business has also been a growth momentum which means more demand for these industries and in turn for corrugated boxes. Geographically, North America is a major revenue generator to the global corrugated boxes market where the US market has become one of the most attractive place for the manufacturers owing to the rising ecommerce venture and shifting trends towards online shopping. Europe is the second leading region and Asia-Pacific has emerged as the fastest growing region. In 2016, the global corrugated boxes market was valued at USD 61,229.4 million and is projected to grow at a CAGR of 3.91% during the forecast period.
Mondi Group (Austria), Smurfit Kappa Group (Ireland) , International Paper Company (U.S.), Orora Packaging Australia Pty Ltd. (Australia), WestRock (U.S.), Georgia-Pacific LLC (U.S.), Archis Packaging Pvt. Ltd. (India), Europac Group (U.K.), KapStone Paper and Packaging Corporation (U.S.) and Nefab Group (Sweden).
Objective of Global Corrugated Boxes Market Analysis & Forecast, from 2017 to 2023
- To provide detailed analysis of the market structure along with forecast for the next ten years of the various segments and sub-segments included in global corrugated boxes market with analysis of its development and demand in the market
- High growth geographies and countries were identified
- Regional and country specific demand and forecast for global corrugated boxes were studied
- Key segments covered in the report are: Type, wall construction, application and region
- Unit breakdown for all different classification was finalized; and same was referred for forecasting, keeping few assumptions into factor
- For all the regions, forecast demand for all applications were identified and then with historical figure, data collected through primary and annual reports were triangulated to derive the regional market size
- Historical trend is identified to forecast and estimate the future value data
- Raw materials suppliers
- Aftermarket suppliers
- Research institute & education institute
- Potential investors
- Key executive (CEO and COO) and strategy growth manager
- Global Corrugated boxes market is expected to reach USD 61,229.4 million by 2023.
- By type, Rigid Boxes in global corrugated boxes accounts for the largest market share and is growing with approximately ~ 6.04 % CAGR during forecast period.
- By Wall Construction, Single-wall segment goods segment holds the largest market growing with approximately 5.86% CAGR by the end of forecast period.
- Food & beverages segment dominate the global corrugated packaging market with a share of 22.70% in 2016, in terms of value. It is expected to grow at a CAGR of 6.56% during the forecast period.
- Geographically, Asia Pacific region has been projected to have the largest market share in global corrugated boxes market followed by Europe.
Regional and Country Analysis of global Corrugated boxes market Estimation and Forecast
The global corrugated boxes market is expected to grow at a promising rate during the forecast period, 2017-2023. Asia Pacific showing significant growth in the corrugated box market. In China, the food and beverage and the healthcare industries are the fastest growing industries that extensively use corrugated packages. The corrugated Boxes market in the region is also growing with the growth of the processed food sector and the increasing demand for corrugated boxes by the electrical equipment and machinery manufacturers and suppliers.
The reports also cover country level analysis:
- North America
- ·Rest of the Europe
- Asia – Pacific
- ·Rest of Asia-Pacific
- Rest of the World