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Corrugated Handle Box Market 2024-2033 - Size, Growth, Trends & Forecast Analysis
Corrugated Handle Box Market
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According to The Business Research Company's, The corrugated handle box market size has grown steadily in recent years. It will grow from $44.62 billion in 2023 to $46.47 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to rapid urbanization, modernization, and globalization, increased environmental awareness, growth of the e-commerce sector,
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The corrugated handle box market size is expected to see strong growth in the next few years. It will grow to $58.09 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to evolving environmental regulations, increasing demand for eco-friendly packaging, rising need for streamlined operations, increasing population, and emerging economy. Major trends in the forecast period include strategic collaborations, geographical expansion, advancements in manufacturing processes, and technological solutions
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Market Drivers and Trends:
The increase in online shopping will propel the growth of the corrugated handle box market going forward. Online shopping allows consumers to buy goods or services over the Internet using a web browser. Corrugated handle boxes are used by online retailers as storage or transit containers. These boxes can be used for everything from functional to ornamental purposes. For instance, according to the National Association of Securities Dealers Automated Quotations (NASDAQ), an American stock exchange that manages global electronic securities trading, predicted that 95% of all purchases in the UK would be made through online platforms by 2040. Hence, the increase in online shopping is expected to drive the corrugated handle box market growth.
Major companies operating in the corrugated handle box market are focusing on innovating products, such as corrugated cardboard box, to provide a competitive edge in the market. corrugated cardboard box is used as corrugated handle box designed for e-commerce shipments of medical devices. For instance, in April 2022, DS Smith plc, a UK-based Paper mill company launched corrugated cardboard box. Corrugated cardboard box is single-material solution that offers more protection against challenges faced during e-commerce delivery. It is a simpler form of packaging that provides excellent protection for medical devices.
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Major Key Players of the Market:
Reid Packaging, Allen Field Company Inc., Unicraft Industries, Guangzhou Bosing Paper Printing and Packaging Co. Ltd., GWP Group, W.H. Skinner, CBS Packaging, Riverside Paper Co., Rengo Co. Ltd., Mondi Group, DS Smith plc, Shanghai Forests Packaging Group Co. Ltd., Planet Paper Box Group Inc., Georgia-Pacific LLC, International Paper Company, Nine Dragons Paper (Holdings) Limited, Oji Holdings Corporation, Packaging Corporation of America, Smurfit Kappa Group, WestRock Company, Shanghai DE Printed Box, Shenzhen Tianya Paper Products Co. Ltd., Atlas Die LLC, Jamestown Container Companies, Landaal Packaging Systems, Mac Papers, Illinois Paper & Copier Co., Bay Cities, Belmont Packaging
Corrugated Handle Box Market 2024 Key Insights:
• The corrugated handle box market size is expected to see strong growth in the next few years. It will grow to $58.09 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Rising Online Shopping Trends Boosting The Corrugated Handle Box Market Growth
• Ds Smith Innovative Corrugated Cardboard Box For Medical Device Shipments
• Asia-Pacific was the largest region in the corrugated handle box market in 2023
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