Corrugated Boxes Market Insights, Growth Drivers and Demand Forecast Report 2030

With the expansion of the packaging industry, the demand for corrugated boxes is growing rapidly across the world. As per Interpack Emerging Market Outlook, the valuation of the global packaging industry was $839 billion in 2015. The ballooning requirement for manufactured goods such as television sets, smartphones, and consumable items like candies is pushing up the demand for corrugated boxes, on account of the fact that these boxes have very high structural strength and are highly resistant.

Furthermore, the value of the packaging industry grew to over $900 billion in 2019, on account of the rise in the popularity of online shopping and on-demand delivery services. Moreover, it is currently exhibiting rapid expansion, in spite of the ongoing COVID pandemic. Corrugated boxes are widely used for shipping applications as they are stronger than the traditionally used cardboard box packaging and are highly pressure-resistant.

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Moreover, corrugated boxes are extensively used for transporting fragile and heavy consumer goods.
This is, in turn, driving the progress of the global corrugated boxes market. As a result, the valuation of the market will rise from $180.9 billion in 2019 to $284.6 billion by 2030. Furthermore, the market is predicted to demonstrate a CAGR of 4.3% between 2020 and 2030. The most widely used types of corrugated boxes are slotted, telescope, rigid, and folder. Amongst these, the demand for telescope boxes will rise rapidly all over the world in the coming years.

Geographically, the corrugated boxes market will exhibit the fastest and the highest growth in the Asia-Pacific region in the forthcoming years, as per the forecast of P&S Intelligence, a market research company based in India. This will be because of the growing public awareness about environmental protection, the increasing requirement for sustainable packaging, the surge in e-commerce activities, and the burgeoning requirement for personal care products and electronic goods in the region.

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Hence, it can be said with full confidence that the sales of corrugated boxes will rise enormously all over the world in the future years, primarily because of the expansion of the e-commerce and packaging industries across the globe.

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About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.