India Corrugated Box Market is expected to reach over INR 63,000 Crore by FY’2023: Ken Research
• Increasing demand from fresh food and beverages, home & personal care goods, electronic goods industries will increase the reach of end users towards corrugated box manufacturers.
• Increasing the demand of safe and cushioned packaging of the product will augment the growth of India Corrugated box market.
• Rise in procurement of latest technology machines from China, Taiwan and other Asian countries by manufacturers in order to make production fast and accurate will also drive the future of India corrugated box industry
The growth in use of internet for shopping, stimulated by the growing use of smart phones as well as the increasing proportion of tech-savvy consumers, has a positive effect on corrugated demand, since it has direct influence on e-commerce market. Retail ready packaging is also increasing driven by the influence of supermarkets over the retail landscape and supported by their growing share of the retail market will also drive the corrugated box market in future. Inline Automatic board and box making plants will ease out the present semi automatic production processes and deployment of folder gluers, rotary die-cutters will grow in the future. Advances in multicolor, flexo printing will facilitate in-house flexo printing, do away with screen printing and contract printing on offset presses.
The trend of colored corrugated boxes has been on the rise. Several organized retailers are using colored and die-cut corrugated boxes for display and promotional purposes in their shops. These types of boxes are mainly used in order to attract customer’s attention as these boxes are very eye catching.
Analysts at Ken Research in their latest publication “India Corrugated Box Market Outlook to 2023 – by Ply/Box Type (3ply, 5ply, 7ply and 9ply), by End User (FMCG, Automotive, Textile, Electronics & Appliances and Others), by Slotted, Die-Cue Box and Others” believe that promoting better regulations, procurement of automatic and updated technology machines from different countries and improved marketing strategies followed by companies will aid the corrugated box market.
India corrugated box market is expected to register positive CAGR of around 21.8% during the period FY’2018-FY’2023. Use of corrugated for display/promotional packs, POPs and dispensers and the emergence of E-commerce industries are expected to have positive impact on the overall revenue of corrugated box market.
For more information, refer to below link:
Horizon Packs Pvt. Ltd, Worth Peripherals Ltd., TGI Packaging Pvt. Ltd., OJI India Packaging Pvt. Ltd., Jayaraj Fortune Packaging Pvt. Ltd., Supack Industries Pvt. Ltd., BL Containers Pvt. Ltd., Chaitanya Packaging Pvt. Ltd., CEL Packaging, Wadpack Pvt. Ltd., Hariwansh Packaging Pvt. Ltd., CJ Corporation and Paper Containers India Pvt. Ltd.
The paper board packaging market will record revenue of USD 66 Billion by 2020 due to more players entering the market, expansion of e-commerce sector in the country, increasing demand of personal care & health care products.
The paper packaging industry is largely comprised of unorganized players. There are a few large players such as TCPL, ITC, Parksons Packaging, and others.
The future prospects of India Recycling PET Industry are impressive on the groundwork of an increase in disposable income fueled by growth in youth population that marked an increase in the availability of post consumer recycled PET waste bottles
Ankur Gupta, Head Marketing & Communications
Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. We provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies.
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