North America Corrugated Packaging Market Surges Amidst Rising Demand for Convenience Food and Technological Advancements

The supply network in North America is supported by corrugated cardboard boxes. In fact, more than 95% of all items consumed in North America are packaged and delivered in corrugated packaging, and close to 40% of all corrugated packaging produced annually is used in food and beverages sector. The US corrugated box packaging market is a developed and highly competitive sector. The market is growing around 3% annually to cross USD 50 Billion in next five years. Over the past five years, e-commerce alone has fuelled the demand for billions of more square feet of cardboard. Other reasons that have contributed to market expansion include the rise of the fresh fruit industry, rising concerns about sustainability, rising demand for food and beverages, and increased shipping supplies.

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► Demand for Convenience Food
The growing population and need-it-now lifestyle trends are driving up demand for convenience foods. Corrugated board packaging, which keeps moisture away from items and can withstand long delivery times, is increasingly being used by businesses to provide better outcomes to customers, particularly as a secondary or tertiary packaging method.

► Digital Printing Growth
Brand owners are identifying opportunities to increase brand loyalty through greater engagement with their customer base provided by technological advancements, and they see packaging as an essential component in creating a memorable shopping experience for users, which will also help them attract new buyers.

The future of the North America Corrugated Packaging Market presently appears to be brighter than it has ever been because of the adoption of new technology in corrugated box production, customized packaging requirement, and rising E-commerce activities in the US market.

► Key Developments
■ Fit-to-product (FtP) and box-on-demand technologies are also becoming popular as a result of the distinctive and expanding needs of e-commerce firms like Amazon. FtP and box-on-demand solutions lessen the need to maintain a huge inventory of several standards, heavy boxes, and different types of filler while also protecting products during manufacture, shipping, and eventually customer travel.
■ In August 2021, Smurfit Kappa decided to invest USD 2 million and expand its corrugated plant in Mexico. The said investment will modernize the plant, with the installation of high-tech machinery, and the construction of a 10,900m2 building that will include a new corrugator and an automatic Rotary Die Cutter (RDC). This facility will produce corrugated boxes made with a moisture barrier that helps resist condensation
■ WestRock, in December 2022, acquired Grupo Gondi in Mexico for USD 970 Million. Prior to the acquisition, WestRock owned 32,3% of Grupo Gondi, this transition helped the company in securing the remaining 67.7%. The acquisition will improve the company leading position in Latin America's containerboard, paperboard, and consumer and corrugated packaging markets.

► Further Key Findings
■ Technological Advancement: B-cool boxes are developed by Mondi Group and these are corrugated boxes with thermos insulation which helps to keep the food chilled below 7 degrees Celsius for about 24 hours. These are reliable and recyclable packaging which helps to keep the food cool while packaging.

■ Rise in Shipping Supplies : The Shipping Supplies Market is a matured market in North America and hence witnesses above-average growth. The increasing shipping supplies market has led to an increase in demand for corrugated boxes. As more products are being shipped, there is a greater requirement of packaging that can be sturdy and can withstand the transportation process. Thus, corrugated boxes have become a popular choice for shipping because they are durable and also provide greater protection for products during transportation

■ Emerging Market: Mexico is an emerging market for corrugated packaging, with increasing investments of foreign players in industries such as automotive, electronics, and consumer goods. The country's growing middle class and expanding manufacturing sector are expected to drive continued growth in the corrugated market. Mexico is gradually becoming manufacturing hub that has gained attention of major players operating in the corrugated industry to set up facilities in the country.

■ Headwinds in Supply Chain: Post Pandemic Shocks have caused disruptions in the Supply Chain especially in North America. The supply chain headwinds worldwide are caused by increasing costs and geopolitical, economic, and environmental issues, and lingering effects of Covid -19 Pandemic. Corrugated boxes being the backbone of the supply chain, have been extremely affected by the disruptions in the supply chain

Makreo Research has published a detailed study on "North America Corrugated Packaging Market Analysis and Forecast (2018-2028)". In this report, we have covered a wide range of factors in our evaluation, including trade performance, major packaging materials, and recent developments in the corrugated industry.

Additionally, the focus on both qualitative and quantitative factors suggests our well-rounded approach to analysis. This provides readers with a more complete understanding of the North America Corrugated Packaging Market, including its past and present performance, as well as potential growth opportunities in the future.

Find out more:- https://www.makreo.com/report/north-america-corrugated-packaging-market-analysis-forecast-2018-2028

Similar related reports:- https://www.makreo.com/report/united-states-corrugated-packaging-market-analysis-forecast-2018-2028

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