Corrugated Handle Box Market Trend 2022, Global Leading Players Update, Size, Share, Future Growth, Business Prospects and In-depth Analysis Research Report by Foresight to 2030
Market Research Future (MRFR) predicts the global corrugated handle box market to register a CAGR of around 4.82% from 2022 to 2030 (forecast period).
The corrugated handle box can easily carry heavy loads of products and is also low in weight and inexpensive compared to other packaging solutions. This box, which is usually made of plastic, has an integrated handle for easy portability. The corrugated handle box is extremely durable and can be printed to improve its appearance and usefulness. This box protects the product and requires an inner cushioning part, such as edge protectors and corrugated inserts, to ensure the protection of fragile products. The corrugated handle box has suitable designs and sizes to prevent spillage and waste of stored products. This box is commonly used in the food industry, consumer goods, cosmetics and personal care, and product shipping. Manufacturers are choosing sustainable materials over plastics to create eco-friendly corrugated handle boxes because plastics contribute to landfill issues.
The expanding e-commerce industry is a major driving force in the global corrugated handle box market. Corrugated boxes are mostly used for the proper handling and transportation of goods. The primary concern of an online retailer is product safety. As a result, they prefer corrugated handle boxes for secondary packaging of products.
Moreover, the increasing number of food franchises, the urban population's preference for takeaway food consumption, and the expanding retail industry are some of the factors driving demand for corrugated handle boxes and thus driving the global market's growth.
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COVID-19 Impact on the Global Corrugated Handle Box Market
The introduction of a number of regulations by governments around the world to deal with the COVID-19 pandemic, such as a complete shutdown of manufacturing units, is expected to have an impact on the growth of the global corrugated handle box industry.
The global corrugated handle box industry has been segmented based on material, application, and end-user.
Based on material, the global corrugated handle box market has been segmented into kraft paper, containerboard, corrugated board, recycled paper, molded fiber pulp, and others. The corrugated board segment holds the biggest market share in the global corrugated handle box market and is anticipated to display the highest growth rate in the assessment period. Higher demand for corrugated board due to the growing applications of the product in the retail and food & beverage sectors as it is mostly used in secondary packaging for transportation of goods.
By capacity, the global corrugated handle box market has been segmented into 0–5 KG, 5–25 KG, 25–50 KG, and above 50 KG. The 5–25 KG corrugated handle boxes held the largest market share as they are used as secondary packaging in the retail and food & beverage industries.
By end-user, the global corrugated handle box market has been segmented into agriculture, personal care, chemical industry, food and beverages, pharmaceuticals, retail industry, and others. The food and beverages segment captures the largest market share in the global corrugated handle box market, as these boxes are frequently used in the secondary packaging for transportation of food items.
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By region, the global corrugated handle box market has been segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
The Asia Pacific dominated the global corrugated handle box market in 2018, followed by North America and Europe; this domination is projected to last until 2025. One of the major factors expected to drive demand for corrugated handle boxes in the area during the forecast period is the increasing e-commerce market, as well as the retail industry, primarily in countries such as China and India.
The corrugated box market in North America is expected to rise significantly. The involvement of tier 1 corrugated handle box manufacturers such as Reid Packaging (US), Allen Field Company, Inc. (US), Planet Paper Box GROUP Inc. (Canada), and Riverside Paper Co., Inc. benefits the area (the US). These market participants are aggressively fortifying their market positions through strategic alliances in order to extend their global reach and create new packaging solutions for their customers. The United States is predicted to retain the lion's share of the North American market and be the region's fastest-growing market.
The global corrugated handle box market is highly competitive, with a large number of players present all over the world. The players are expected to follow a range of strategies in order to expand their global reach and market share. Some of the main strategies employed by the players include a greater emphasis on delivering high-quality goods, cost-effectiveness, expansions, and strategic alliances and collaborations with manufacturing firms.
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Notable players in the global corrugated handle box market are Reid Packaging (US), Guangzhou Bosing Paper Printing and packaging Co., Ltd (China), Unicraft (India), GWP Group (United Kingdom), WH Skinner (UK), Allen Field Company, Inc. (US), Shanghai Forests Packaging Group Co., Ltd (China), CBS Packaging (United Kingdom), Planet Paper Box GROUP Inc. (Canada), and Riverside Paper Co., Inc. (US).
The global corrugated handle box market is anticipated to register a CAGR of around 4.82% from 2020 to 2027 (forecast period). The corrugated handle box industry is being driven by the burgeoning retail and food industries. Consumers' on-the-go lifestyles, which result in increased food deliveries, are propelling the market for corrugated handle boxes. Corrugated handle box demand is increasing due to growing e-commerce and the need for a sustainable packaging solution. Manufacturers are concentrating on the creation of recyclable and biodegradable solutions that can mitigate the negative effects of plastic, which can fuel demand for corrugated handle boxes. These boxes are often made of paper pulp, which is an inexpensive source of material that lowers the cost of the product, enticing customers to buy it.
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