Corrugated Packaging Market Is Expected To Grow At A CAGR Of 5.78% By 2023

Market Highlights:
Global corrugated packaging has very broad market in coming recent years. MRFR analysts has predicted that food & beverages and consumer goods industry are about to grow at a rapid pace, moreover, the speedy rising ecommerce business has also been a growth momentum which means more demand for these industries and in turn for corrugated packaging. The global corrugated packaging market has experienced a humongous growth over the past years and as per the estimation the global corrugated packaging market will grow more on a rapid pace during the forecast period. The rising population and growing per capita income are the major growth driver for this market. Along with this the growing applications segment such as food & beverages, personal care, Pharmaceuticals & healthcare, consumer goods, electronic goods have contributed a major role in the overall market growth.

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Regional Analysis:
Geographically, North America is a major revenue generator to the global corrugated packaging market where the US market has become one of the most attractive place for the manufacturers owing to the rising ecommerce venture and shifting trends towards online shopping. Europe is the second leading region and Asia-Pacific has emerged as the fastest growing region.

Rapid growth in the electronic sector is ultimately driving the demand of the corrugated packaging. Today consumer electronics is the top selling category due to increase in the number of online electronics models. The electronic sector is continuously evolving with new developments. Due to the increase in internet and mobile penetration, there have been increase in the acceptance of online payments and favourable demographics have given the companies in the electronic sector, an opportunity to connect with their customers.

According to REED Electronic Research, a leading market information provider on the global electronics industry, in 2015, China has accounted for 38% of electronics equipment production in the global market.

Developing countries such as China, India, Indonesia, Thailand, Vietnam, and Mexico have the largest disposable income, due to which there is a significant growth in the manufacturing and service industries here. The higher disposable income in these developing countries, results in the increase in purchasing power. As a result, corrugated packaging market has been impacted, positively.

Key Market Players:
The key players in global corrugated packaging market report included are Mondi Group (U.S.), Smurfit Kappa Group (Ireland) , International Paper Company (Tennessee), Orora Packaging Australia Pty Ltd (Australia), WestRock (U.S.), Georgia-Pacific LLC (Atlanta), Archis Packaging (India) Pvt. Ltd., Europac Group (U.K.), KapStone Paper and Packaging Corporation (U.S.) and Nefab Group (Sweden).

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Market Segmentation:
The global corrugated packaging market has been segmented into types, wall construction, application and region.

By Types
• Bliss / Rigid Boxes
• Self-Erecting Boxes
• Telescope boxes
• Slotted boxes
• Others

By Wall Construction
• Single-wall
• Double-wall
• Triple-wall

By Application
• Food & beverages
• Electronic goods
• Personal care
• Pharmaceuticals & healthcare
• Others

By Region
• North America
• Europe
• Asia-Pacific
• Rest of the World

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