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Corrugated Handle Box Market Flourishes with Online Shopping Boom and F&B Sector Surge - Projections Point to $58.09 Billion by 2028
Corrugated Handle Box Market
The corrugated handle box market has shown steady growth, increasing from $44.62 billion in 2023 to a projected $46.47 billion in 2024, with a Compound Annual Growth Rate (CAGR) of 4.2%. This positive trajectory is expected to continue, reaching an estimated $58.09 billion by 2028, maintaining a robust CAGR of 5.7%.
Key Drivers:
Online Shopping Trends: The surge in online shopping is a significant driver propelling the corrugated handle box market. As consumers increasingly turn to online platforms for purchases, these boxes, used by online retailers for storage and transit, become essential. Projections by the National Association of Securities Dealers Automated Quotations (NASDAQ) foresee 95% of UK purchases happening online by 2040, underscoring the vital role of corrugated handle boxes in this trend.
Food and Beverage (F&B) Industry Demand: Growing demand in the F&B industry contributes to the expansion of the corrugated handle box market. These boxes, used by restaurants and food establishments for food delivery orders, offer convenient handling, particularly for multiple drinks. The robust sales in the F&B sector, such as the $467.20 billion in 2021 and a 4.0% rise in global beer consumption in 2021, highlight the pivotal role of corrugated handle boxes in this industry.
Explore the Global Corrugated Handle Box Market with a Detailed Sample Report:
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Major Players:
Leading companies shaping the corrugated handle box market include Reid Packaging, Allen Field Company Inc., Unicraft Industries, and GWP Group. These key players actively influence market dynamics and contribute to innovations in the industry.
Trends and Innovations:
Innovative Product Launches: Major companies, like DS Smith PLC, are focusing on innovating products to gain a competitive edge. The introduction of the corrugated cardboard box designed for e-commerce shipments of medical devices exemplifies this trend. This single-material solution enhances protection during e-commerce deliveries, addressing challenges faced in the medical device sector.
Sustainable Packaging Solutions: VPK Group's launch of the Fit2Size brand for fanfold corrugated packaging solutions reflects a commitment to sustainability. Fanfold corrugated packaging, known for its zigzag folding pattern, is optimized for easy handling and storage on pallets. Fit2Size offers tailored packaging solutions meeting specific customer needs, emphasizing sustainability in the market.
Regional Dynamics and Market Segmentation:
Asia-Pacific dominates the corrugated handle box market in 2023, and the region is expected to experience the fastest growth in the forecast period.
The corrugated handle box market covered in this report is segmented -
1) By Material: Kraft Paper, Container Board, Corrugated Board, Recycled Paper, Molded Fiber Pulp, Other Materials
2) By Printing Technology: Digital Printing, Flexography Printing, Lithography Printing
3) By End User: Agriculture, Chemicals, Food And Drink, Pharma, Personal Care, Retail, Other End Users
Access the Complete Report for In-Depth Analysis:
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Corrugated Handle Box Global Market Report 2024 from TBRC covers the following information:
Market size date for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Corrugated Handle Box Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on corrugated handle box market size, corrugated handle box market drivers and trends, corrugated handle box market major players, competitors' revenues, corrugated handle box market positioning, and corrugated handle box market growth across geographies. The corrugated handle box market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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