Corrugated Box Market Research Growth by Manufacturers, Regions, Type and Application, Forecast Analysis to 2030
The global Corrugated
Box Market is forecast to reach USD 96.92 Billion by 2030, according
to a new report by Reports and Data. Corrugated boxes are thick paper material
consisting of a compressed layer of paper pulp. It is extensively used for
packaging as its easy-to-open and reseal packaging designs provide benefits to
the end-users. Besides, it is environmentally friendly and can be recycled.
Retailers and product manufacturers also enjoy great benefits from Corrugated
Box.
These boxes are used to
store and transport products. The most important properties of paperboard, the
driving force of the market, are its recyclability, its reusability, and its
durability. Also, the growing awareness of ecological conservation makes
consumers inclined to use paperboard. Besides, high-resolution graphics and
two-sided printing of paperboard can enhance the brand promotion of products.
Therefore, various product manufacturers choose it as packaging material.
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Rapid urbanization has
changed the lifestyle of the people and, in turn, has increased the prevalence
of packaging over a broad aspect, thus, augmenting the demand for the market
product. The growing awareness among customers for the sustainable packaging
material with the reusability of Corrugated Box is fostering the market demand.
However, the usage plastics due to its cost-effective, durable, and reusable
properties are hampering the market demand.
The COVID-19
impact:
As the COVID-19 crisis
grows, manufacturers are quickly changing their practice and purchasing
priorities to meet the required demand of a pandemic, which has cut demand for
many forest product segments, majorly corrugated boxes market. Over a couple of
months, there will be a series of both positive and negative shocks, as
manufacturers and their suppliers respond to providers changing needs. With a
poor global situation, the export-dependent economies of many regions look
vulnerable.
Key
companies operating in the market and profiled in the report include:
· Mondi
plc
· DS
Smith plc
· The
International Paper Company
· Georgia-Pacific
LLC
· Oji
Holdings Corporation
· The
Smurfit Kappa Group plc
· WestRock
Company
· Pactiv
Evergreen Inc
· Tat
Seng Packaging Group Ltd
· Packaging
Corporation of America.
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Further
key findings from the report suggest
· Rigid boxes have two similar end panels and consists of a body that can be folded from the two side panels, a top, and an unbroken bottom. The flaps are applicable to form the joints. Once these joints are sealed, the box is considered to be rigid. The segment is forecasted to grow with a CAGR of 4.0% during the forecast period.
· Single-walled boxes are designed to use only a single layer of fluting. They are used for shipping in the e-commerce sector. These boxes are cost-effective and can provide offer cushioned protection as well as rigidity that is required in a shipping container.
· The food and beverage segment is estimated to capture a massive share of the market because of the flourishing of the take-out food consumption and changing lifestyle patterns of individuals. The segment held a market share of 4.7% in the year 2019.
· The
advent of the use of Corrugated Box backed by various government awareness
schemes in nations such as India is creating a demand for the use of these
boxes in the packaging market. The Asia Pacific region is forecasted to grow
with the highest growth rate in the forecast period due to the rise in the
number of people opting for the manufacturing of paperboards.
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Segments Covered in the report
Material Outlook (Revenue, USD Billion;
Volume, Kilo Tons; 2019-2030)
- Virgin
- Recycled
End-use Outlook (Revenue, USD Billion;
Volume, Kilo Tons; 2019-2030)
·
Food &
Beverage
·
Pharmaceuticals
·
Personal Care
·
Home Décor &
Electronics
·
Paper Products
·
Others
Printing Technique (Revenue, USD Billion;
Volume, Kilo Tons; 2019-2030)
·
Digital Printing
·
Lithography
·
Flexography
·
Others
Regional Outlook (Revenue, USD Billion;
Volume, Kilo Tons; 2019-2030)
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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