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Corrugated Boxes Market Research Covering Industry Growth Printing Technologies and Regional Demand Forecast till 2031
Corrugated Boxes Market
The global corrugated boxes market is estimated to reach over USD 90.37 billion by 2031, exhibiting a CAGR of 4.29% during the forecast period.
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Corrugated packaging materials are formed of paperboard and are used to protect goods such as heavy, bulky, fragile, or high-value items in storage and transit. Corrugated packaging is created in various sizes, resulting in products ranging from small to heavy-duty. Some of the causes propelling this industry are customers' increasing reliance on online shopping, the population's strong purchasing power, and the country's rapid internet and smartphone penetration. This, in turn, is increasing demand for corrugated board packaging boxes. A key growth driver is a rising demand for out-of-home food due to hectic work-life schedules and convenience. Manufacturers in the sector are gaining a competitive edge to stand out in the market due to the rise of highly specialized products such as corrugated boards with lightweight flutes, plastic coatings, and printing-compatible surface sheets.
List of Prominent Players in the Corrugated Boxes Market:
• Mondi Group
• International Paper
• Westrock Company
• DS Smith
• Smurfit Kappa Group
• Rengo Co. Ltd
• Cascades Inc.
• Packaging Corporation of America
• Georgia-Pacific, LLC.,
• Nine-Dragons Worldwide (China) Investment Group Co., Ltd.
• Federal Industries Corporation
• Nippon Paper Industries Co., Ltd.
• Icustomboxes
• Stora Enso
• Svenska Cellulosa Aktiebolaget
• Sappi
• Brødrene Hartmann
• Ufp Technologies
• Deluxe Packaging
• Larsen Packaging Products, Inc.
• Orcon Industries
• Trident Paper Box Industries
• Tgi Packaging Pvt. Ltd.
• Kapco Packaging
• Avon Pacfo Services Pvt. Ltd.
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Market Dynamics:
Drivers-
One of the key factors impacting the market is the growing need for simple shipping and packaging boxes across various end-use industries such as electronics, healthcare, chemicals, logistics, and food and beverage (F&B). Furthermore, the expansion of the e-commerce industry and the rising reliance on online shopping platforms for the purchase of diverse products is driving demand for corrugated boxes, which provide optimal mechanical stress protection. The corrugated boxes can print photorealistic images boosting product promotion among global consumers.
Challenges:
The market faces substantial challenges in meeting environmental criteria during production. The high energy consumption and accompanying environmental implications are significant barriers to its inclusion as a preferred packaging solution. As a result of factors such as mobility, health benefits, convenience, and sustainability, end customers are shifting from rigid to flexible packaging materials. Furthermore, stiff competition from flexible packaging products hinders the market's expansion.
Regional Trends:
Asia Pacific corrugated boxes market is expected to register a major market share in terms of revenue and is projected to develop at a high CAGR in the near future. The expanding urban population, developing e-commerce package industry, dropping pulp prices, and increasing population knowledge about eco-friendly packaging will likely boost China's corrugated board packaging market. Among the industry's significant trends and advances are increased containerboard capacity and technological breakthroughs. Furthermore, rising environmental awareness among the urban population in Europe, demand for sustainable packaging, expanding demand for convenient packaging, evolution in e-commerce activity, and growing demand for electronic goods and home and personal care products are all contributing to the country's corrugated packaging market's acceleration.
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Recent Developments:
• In May 2022, Mondi announced an investment of EUR 280 million to enhance corrugated board and cardboard production. This investment will aid in the expansion of capacity and efficiency in the Czech Republic, Poland, Germany, and Turkey. EUR 185 million of this investment will proceed to the company's network of Corrugated Solutions plants in Central and Eastern Europe.
Segmentation of Corrugated Boxes Market-
By Material-
• Linerboard
• Medium
• Others
By Printing Ink-
• Water-based Ink
• UV-curable Ink
• Holt melt-based Inks
• Solvent-based Inks
By Printing Technology
• Flexography Printing
• Lithography Printing
• Digital Printing
• Others
By Type-
• Slotted Box
• Telescope Box
• Rigid Boxes
• Folder Boxes
By End-Use Industry-
• Food & beverages
• Electronic goods
• Home & personal care
• Chemicals
• Textile
• Glassware & ceramics
• Paper products
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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InsightAce Analytic Pvt. Ltd.
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