- Government initiatives toward adoption of recyclable packaging to supplement corrugated box market growth over the globe.
- Low manufacturing cost and high profit margins offered by recycled containerboard based corrugated boxes to drive market across the globe.
- High prevalence and rising penetration of e-commerce platforms is anticipated to compliment market growth.
Corrugated Boxes Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, sales network, business strategies, research & development activities, production and consumption, supply chain analysis, competitive landscape, and market composition analysis.
Government initiatives toward adoption of recyclable packaging to supplement corrugated box market growth over the globe
Fueled by the twin benefit of low cost and high protection offered by corrugated boxes, the global market is anticipated to propel in coming years. With emergence of e-commerce platform, the demand from food & beverages, and consumer electronics industries has surged significantly in recent time.
Corrugated boxes are versatile and environment friendly due to use of multiple layers processed fiber, and thus are anticipated to be benefited by government initiatives for adoption of recyclable material based packaging solutions. However, cost associated with procurement, installation, and maintenance of advanced machinery used for manufacturing of corrugated boxes is anticipated to impede market growth during the forecast period.
Low manufacturing cost and high profit margins offered by recycled containerboard based corrugated boxes to drive market across the globe
The corrugated boxes market is segmented based on material type, printing technology, product type, end use industry, and geography. Based on material type, the market is segmented into virgin containerboard and recycled containerboard. The global corrugated box market is marginally dominated by recycled containerboards. Recycled containerboards are manufactured by processing the used corrugated boxes as wells as used paper fibers.
Consequently, the manufacturing cost of recycled containerboard corrugated boxes is significantly low as compared to that of virgin containerboard based corrugated boxes, thereby increasing the profit margins for corrugated box manufacturers. Moreover, stringent regulations on use of recycled paper based products is anticipated to provide prominent growth opportunities for recycled containerboard based corrugated boxes during the forecast period.
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High prevalence and rising penetration of e-commerce platforms is anticipated to compliment market growth
Based on end use industry, the corrugated box market is segmented into food & beverages, electrical & electronics, automotive, textile, chemicals & pharmaceuticals, and others. Electrical & electronic contributed major share to the global market in 2018. Rising penetration of e-commerce platforms across the globe is one of the prime factors fueling growth of corrugated boxes across several industry verticals. Increasing penetration of online platforms for delivery of consumer electronic products has bolstered the adoption of corrugated boxes over last five years.
Moreover, changing preference toward DIY in automotive industry has resulted in adoption of corrugated boxes for packaging of automotive components. Adoption of corrugated boxes for food & beverages packaging fueled by the emergence of online food delivery platforms, is anticipated to be another factor supplementing the growth of corrugated boxes during the forecast period. Asia Pacific is anticipated to gain traction in adoption of recycled containerboard corrugated boxes in up-coming years. North America to drive market demand throughout the forecast period.
Major players operating in the global corrugated box market include Smurfit Kappa Group Plc, International Paper Company, WestRock Company, Georgia Pacific LLC, Pratt Industries, Inc., Oji Holdings Corporation, DS Smith Packaging Limited, Stora Enso Oyj, Mondi Group Plc, Tat Seng Packaging Group Ltd., VPK Packaging Group nv, Nelson Container Corporation, Great Little Box Company Ltd., Action Box Inc., Acme Corrugated Box Co. Inc., Wertheimer Box Corporation, Shillington Box Co., LLC, Bee Packaging, A.D. Incorporated of Milwaukee, and Shanghai DE Printed Box.