Corrugated rolls Market Lucrative Opportunites By 2024
To have a competitive edge in the existing market manufacturers adopt innovative packaging solutions that are attractive and attracted to consumers.
Corrugated rolls offers the calmest way to package and defend irregular items of various sizes and forms. Corrugated rolls are made of crepe paper, tissue paper and many more. The product is gaining popularity among various manufactures owing to the eco-friendly property.
Corrugated rolls: Market Dynamics
Corrugated rolls market is primarily driven by the increasing growth of electronics and semi-conductor industry because corrugated rolls are widely used as a protective flexible packaging solutions in transit.
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Apart from that, there has been a significant increase in the number of modern retail stores like supermarkets, hypermarkets and convenient stores over the past few years that in turn escalates the sales of corrugated rolls during the forecast period.
Moreover, due to the globalization, maximum courtiers are involving in export and import of different products which is expected to further propel the growth of global corrugated rolls market during the forecast period. In addition, corrugated rolls is economical packaging solution which is expected to enforce the manufacturers to use corrugated rolls as a packaging.
Also, the increasing awareness of ecofriendly product is expected to fuel the growth of global corrugated rolls market during the forecast period. Moreover, corrugated rolls having the advantage of high quality print that is used as promotional tools for the manufacturers that in turn accelerates the sales of corrugated rolls during the forecast period.
In terms of geography, the global corrugated rolls market has been divided in to five key regions including North America, Latin America, Europe, Asia-Pacific and Middle East & Africa.
North America region is expected to dominate the other owing to the huge growth of retail industry coupled with rising growth of food processing and electronics industry. Europe is also expected to witness healthy growth in the near future.
Asia pacific region is also anticipated to register highest CAGR during the forecast period because the e commerce distribution channel is gaining traction. Latin America region is expected to witness slow growth in the upcoming decade. But Middle East & Africa region is anticipated to be sluggish throughout the forecast period.
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Corrugated rolls Market: Key players
Some of the key players in the global corrugated rolls market are Smurfit Kappa Group, Austral packaging, Donegal Box Company, FEFCO Corrugated Packaging, Rigid containers ltd, Greenpack Industries, Royal Pack Industries etc.
The market is very much fragmented for the presence of local and various multinational companies. Key players also emphasizing for mergers and acquisitions with the local players to increase the product portfolio and also to penetrate their business into emerging countries. Also, the companies are increasing their product line to acquire new customers as well as to retain the existing customers.
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