Corrugated Box Market Value to Grow by Almost US$ 219.4 Billion During 2022-2032 | Bee Packaging, DS Smith Packaging Limited, Oji Holdings Corporation

According to U.S. government statistics, as of August 2020, approximately 198,000 dental clinics and hospitals have been closed due to the Coronavirus outbreak.

The corrugated box market is expected to escalate at a CAGR of 5.0% from USD 134.7 billion in 2022 to USD 219.4 billion through 2032. The COVID-19 pandemic has had a significant impact on the aluminum industry worldwide, and it is difficult to estimate the severity and extent of the impact over time.

As a result of the recession that followed the pandemic, the packaging industry was negatively impacted. In light of the COVID-19 pandemic and the unexpected drop and uncertainty in raw material prices, packaging solution manufacturers around the world have been facing significant challenges.

The increased use of online shopping in Central and Eastern Europe, along with sustainability, is driving the corrugated box market.

The packaging of corrugated boxes used in Central and Eastern Europe incorporates a sustainable approach and eco-friendly material, which is appreciated by nearly 80% of the population. Consumers use sustainable corrugated packaging solutions for online shopping in 77% of cases.

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The growth of the corrugated box market is slowed by fierce competition from flexible plastic packaging Flexible packaging provides the best value for manufacturers and retailers. This is due to its ability to reduce packaging weight which results in reduced shipping and warehousing costs. Consequently, less space is needed for the packaging.

Digitalization is being implemented by Smurfit Kappa in the market for corrugated boxes through the development of a range of new products. The corrugated industry has been enriched by the introduction of digitalization by Smurfit Kappa, a renowned manufacturer of corrugated packaging solutions.

Graphic design customized for each client has produced various benefits, such as increased sales and greater flexibility. As well as developing new technologies and improving current ones, the company also looks forward to increasing its sustainability efforts. Innovations in these areas are driving the digitalization of paper-based packaging and creating substantial opportunities for the expansion of the corrugated box market.

Leading Companies Profiled in Corrugated Box Market are

Mondi Group Plc
Bee Packaing
DS Smith Packaging Limited
Oji Holdings Corporation
Smurfit Kappa Group Plc
International Paper Company
WestRock Company
Georgia Pacific Packaging LLC
Pratt Industries, Inc.
Others

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Key segments

By Material Type:
Virgin
Recycled

By Board type:
Single Face Board
Single Wall Board
Double Wall Board
Triple Wall Board

By Grade type:
Liner
Fluting Medium

By Product Type:
Slotted Box
Folder Box
Telescope Box
Die-Cut Box

By End Use:
Food
Beverages
Electricals & Electronics
Healthcare
Textiles & Apparels
E-commerce
Building & Construction
Personal Care & Cosmetics
Chemical & Fertilizers
Others

By Region:
North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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KEY TAKEAWAYS:
The CAGR for the virgin segment of the material type category in corrugated box market is anticipated to be 3.8% through 2032.
In the United States, the corrugated box market is estimated to reach US$ billion by 2032, rising at a CAGR of % throughout the forecast period.
By 2032, the corrugated box market in the United Kingdom is expected to be valued US$ million, with a CAGR of % through 2032.
With a CAGR of % throughout the forecast period, China is expected to reach a market size of US$ million in corrugated box market by 2032.
By 2032, the corrugated box market in Japan is estimated to be worth US$ million, growing at an annual rate of % through 2032.
With a CAGR of % throughout the forecast period, South Korea is predicted to reach a market size of US$ million in corrugated box market by 2032.

COMPETITIVE LANDSCAPE:
Businesses within the corrugated box market are working to launch new products, expand their operations, and build strategic partnerships with other manufacturers. Furthermore, key players are expanding their manufacturing capabilities, product lines, and global presence. Leading corrugated box manufacturers dedicate time and resources to researching and developing innovative products.

The Smurfit Kappa Group LLC, e.g., has announced the opening of a new e-commerce corrugated packaging facility in the United Kingdom, which will test and launch new solutions in the e-commerce arena certified with reliable ISTA certification at least by June 29th 2021.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.