Duplex Boxes Market Industry KnowHow By 2024
Packaging is no longer a tool that protects a product but has several attributes attached to it which drive the sales. Duplex box is a type of packaging from the pool of packaging options.
Duplex box is called duplex as it is made up of two layers and has outer flaps which meet at the centre, on both top and bottom surfaces. The exterior of the box is generally coated to make it water-resistant and provides a glossy sheen.
These boxes are available in different shapes and sizes and are almost used in packaging of almost all the industries including foods, beverages, cosmetics, pharmaceuticals, consumer goods etc.
Duplex Boxes Market Dynamics:
The global duplex boxes market is primarily driven by the growth in the food and beverage industry and electronics industry, whereas the growth in household care products and personal care products market is expected to drive this demand in the future.
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In addition, rising ecommerce together with increasing demand and spending for packaged products fuels the growth for the duplex boxes market. Duplex boxes are mostly durable, light-weight and possess high strength, appealing aesthetic value, cost effectiveness and recyclability features, which makes it a preferred way of packaging.
All the mentioned features associated with duplex box clubbed with constant innovation in designs boosts the growth in the duplex boxes market. However, growing prices of raw materials and increasing competition due to availability of several alternate products can act as restraining factors for the duplex boxes market.
Geographically, the duplex boxes market can be segmented into North America, Latin America, Europe, Asia-Pacific (APAC) and Middle East & Africa (MEA). The global duplex boxes market is projected to grow at a CAGR of around 3% during the forecast period (2016 -2024).
In developed countries of Europe and North America, the growth in the demand in duplex boxes market is expected to be slow owing to low overall economic growth in these saturated markets. Asia Pacific is expected to witness the highest growth in the duplex boxes market primarily due to the developing countries like India and China.
The factor such as rising population, increasing disposable income, growing retail industries etc. fuels the growth in the demand for the duplex boxes market in these developing economies. Further, MEA is expected to witness a stagnant growth in the duplex boxes market, whereas Latin America is expected to experience an above average growth in the duplex boxes market majorly due to rapid industrialization in the developing countries like Brazil, Argentina etc.
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Duplex Boxes Market- Key Players:
Some of the leading players identified across the globe in the duplex boxes market are: The Mondi Group plc, International Paper Company, All Packaging Company, Smurfit Kappa Corporation Limited, WestRock Company, Bell Incorporated and Amcor Ltd etc.
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