Drinking Boxes Market Industry KnowHow By 2024
These boxes can be of various shapes, shapes and application types, and are comparatively easier to design and model as per the product requirement. Drinking boxes protect drinkable products from the external environment and from other damages during shipping and handling of those products and also is a cost effective packaging solution.
The increasing purchasing power and frequent adoption of innovative packaging tools are some of the factors that have led to the significant growth in the packaging industry including the growth in demand for drinking boxes market. Drinking boxes have made steady progress over the last five years, and are forecasted to grow at a high rate.
Drinking Boxes Market - Market Segmentation:
The global drinking boxes market can be segmented on the basis of material type, process type, application, and by region. On the basis of material type, drinking boxes market can be segmented into paper & paperboard, metal, plastics, etc.
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Paper and paperboard type can be further categorized into corrugated card, duplex board, and cardboard. Plastics segment can be segmented into High-density polyethylene (HDPE), Polypropylene (PP), Polyvinyl chloride (PVC) and others. On the basis of the process type, drinking boxes market can be segmented into slitting and longitudinal cutting, creasing, slotting, flap or corner cutting and stitching.
On the basis of the application, drinking boxes market can be segmented into alcohol and non-alcohol drinks. Non-alcohol drinks can be further segmented into water bottles, energy drinks, fruit juice bottles, soft drinks and others. On the basis of region, drinking boxes market can be segmented into North America, Latin America, Europe, Asia-Pacific and the Middle East & Africa.
Drinking Boxes Market - Market Dynamics:
Growth in demand for drinking boxes market is expected to grow strongly for several reasons. One of the major factors contributing towards the growth of drinking boxes market is that it is very effective for distribution center usage and also results in the elimination of break packs and hence the unnecessary use of cardboard.
Moreover, the cost effectiveness of void-fill materials in comparison to other filling materials is expected to benefit the drinking boxes market. However, government regulations regarding plastic consumptions and manufacturing is expected to hamper the growth of drinking boxes market. Also, the high initial cost of drinking boxes material is considered as another restraining factor for the growth of drinking boxes market.
Drinking Boxes Market- Regional Outlook:
Drinking boxes market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa (MEA), and Latin America. Among these regions, North America, and Europe currently dominate the dinking boxes market.
However, Asia Pacific is expected to witness the highest growth in the drinking boxes market as many multinational packaging companies are ramping up their investments in Asia Pacific to tap the unmet need of drinking boxes and also the government support towards boosting manufacturing is attracting multinationals to invest in this region.
Furthermore, Asia Pacific dominance has resulted in organizational changes – many new packaging entrants have emerged over the last few years and many leading companies has set up their manufacturing capabilities in the region.
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Asia Pacific is expected to be primarily driven by China, Japan and India. Latin America and the Middle East & Africa are expected to witness slow and steady growth in the drinking boxes market over the forecast period. In Latin America, Brazil and Mexico are expected to create market opportunities for companies involved in drinking boxes.
Drinking Boxes Market - Major Players:
Some of the major players identified across the globe in the drinking boxes market are DS Smith Plc., Sealed Air Corporation, Sonoco Products Company, Green Packaging Technology Co. Ltd., Shanghai Boyang Packaging Technology Co. Ltd., ACH Foam Technologies LLC, BASF SE, Bayer AG, NEFAB GROUP, Pregis North America, Smurfit Kappa Group Plc., RockTenn Company, Cascades, Huhtamaki OYJ, Packaging Corporation of America, Zhejiang Kaipei Packaging Co., Ltd. and Linyi Guosheng Color Printing & Packing Co. Ltd.
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