Round Corrugated Box Market Likely to Showcase Increased Demand Motivated by Major Players during Assessment Period // Industry Players - Huhtamaki Oyj, Smurfit Kappa Group plc., Georgia Pacific LLC
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Round corrugated box has been gaining increasing demand as a packing material of choice, as it is cost-effective and provides sustainable packaging solutions. These boxes provide a stable cushion for range of products, keeping the items safe for transportation, shipping, and handling. The demand for round corrugated box is likely to grow in tandem with growth in the number of e-commerce sites. Further, rising scope of application in the packaging of gifts, cosmetic, food, garments, and healthcare products will possibly be one of the key factors influencing the development of round corrugated box market.
Further, increasing use of round corrugated box for primary as well as secondary packaging in different end-use industries may complement the market expansion.
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Round corrugated boxes are protective packaging solutions that offer protection to fragile or vulnerable products by keeping them in a fixed position inside the outer case. Round corrugated boxes are used as an addition to the existing case to create stability for the product. Moreover, round corrugated boxes are used for optimal protection as they are designed in such a way that they do not jeopardise the protection of the product. They help reduce 30% of the packaging weight. Thus, they ensure that the final packaging of the product meets the requirement of producers as well as consumers. Round corrugated boxes are mainly made from solid board or cardboard. The outer coating and surface treatment of round corrugated boxes is done with material finish of white, brown, or poly coat. There are a number of factors that are considered while making round corrugated boxes, such as bending, buckling, compression, and collapse, among others, to make them suitable for loads of up to 1000kg. These round corrugated boxes are also used for online retail companies owing to the fact that they provide protective packaging. Therefore, the outlook for the growth of the global round corrugated box market is expected to be largely positive during the forecast period.
The global round corrugated box market is anticipated to grow in the next ten years and beyond due to the backdrop of the growth of the global sustainable packaging market. Round corrugated boxes are manufactured using a variety of materials to suit various applications and markets. In addition, manufacturers of round corrugated boxes also offer custom services. Round corrugated boxes are 100% recyclable and are made from renewable sources, which makes them environment friendly and eliminates the need for plastic or polystyrene protective packaging. One of the key trends observed in the market is the flexibility of these boxes to protect multiple products. Moreover, round corrugated boxes are multipurpose, which makes them suitable for retail-ready, transport, consumer, and display packaging and ensures reduction in transit damage as the main product is well fixed during transit. Matte lamination (glossy lamination and varnish) on round corrugated boxes is also one of the factors expected to fuel the round corrugated boxes market during the forecast period.
In spite of the positive outlook for growth, there are certain factors that are expected to hamper the growth of the global round corrugated boxes market during the forecast period. Awareness about the advantages of round corrugated boxes needs to be spread to boost the demand for these products.
The online retail market plays an import role in driving the market for round corrugated boxes. Due to the convenience they provide to the customers, the e-commerce market, which includes online shopping, is progressively gaining preference. Online retailers are adopting various types of corrugated boxes, including round corrugated boxes and containers that provide suitable protection to the products, as they are effective packaging solutions.
With consumers demanding increased product sustainability, protection, and efficient labelling & branding, as well as rising competition, effective packaging has become one of the key necessities for businesses in the e-commerce sector. Local and small vendors are operating e-commerce platforms to reach out to consumers on a large scale. This, combined with excellent shipping services by e-commerce vendors, is expected to drive the need for efficient packaging, which is anticipated to boost the demand for round corrugated boxes.
The pricing analysis of the global round corrugated box market has been done on the basis of the material types by arriving at an average selling price of a product type that varies over a wide range of brands, designs, quality and various technological features.
The global round corrugated box market is expected to witness lucrative growth during the forecast period. The APEJ region is expected to drive the global round corrugated box market due to the growing construction and retail sector in the region, especially in countries such as India and China. The North America and Western Europe regions are expected to witness average growth in overall round corrugated boxes market. Eastern Europe and Latin America regions are expected to register high growth in the global round corrugated box market in the next decade, due to the growing demand and consumption of the round corrugated boxes. MEA is expected to observe average growth. Japan is expected to witness sluggish growth during the next decade due to the usage of different technology and alternatives in the region.
This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters.
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
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