The corrugated boxes market was valued at USD 70.5 Billion in 2019, growing with a CAGR of 4% over the forecast period. Various end user industries such as food & beverage, consumer goods, personal care, pharmaceuticals, e-commerce uses corrugated boxes widely for packaging. The main growth factor driving the global corrugated boxes market is various economic benefits offered by such packaging, as they protect the products from damage and wear and tear during transportation. Corrugated boxes are seen as a low cost secondary packaging solution in many industries. No-a-days it has gained increased important due to growth in online retail stores.
The rise in e-commerce shopping platforms, which nowadays offer every possible product such as medicines, personal care products, and all the basic necessities and growing trend of home delivery is driving the demand for better packaging solutions, such as corrugated boxes, which is projected to fuel the corrugated boxes market in the coming years.
Growing population, disposable income, and online shopping trends, have accelerated the demand for reliable packaging products during the past few years. Additionally, growing influence of western culture, popularity of online shopping, working population, easy access to online products are some of the factors expected to fuel the corrugated boxes market over the forecast period. The rise in industrial production through the expansion of manufacturing capacities, growing import-export activities, and relaxed trade restrictions has led to a proliferation in the packaging industry and has impacted the corrugated boxes market in a positive way, fuelling the market growth in the coming years.
Key segments across Corrugated Boxes Market
- Type Overview, 2018-2025, (USD Billion)
- Slotted boxes
- Telescope boxes
- Rigid boxes
- End Use Overview, 2018-2025, (USD Billion)
- Food & Beverage
- Consumer Goods
- Personal Care
- Regional Overview, 2018-2025, (USD Billion)
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- Central & South America
- Rest of Central & South America
- North America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global corrugated boxes market. Benchmark yourself against the rest of the market.
- Be prepared for how corrugated boxes market will be impacted by socio-political and economic factors over the next few years
- Ensure you remain competitive as new innovations by existing key players boost the market.
What does the report include?
- The study on global corrugated boxes includes qualitative factors such as drivers, restraints, and opportunities.
- The study covers the competitive landscape of existing/prospective players in the industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented on the basis of type and end use. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
This study is suitable for industry participants and stakeholders in the global corrugated boxes market. The report will benefit:
- Every stakeholder involved in manufacturing and distributing components or solutions.
- Managers within financial institutions looking to publish recent and forecasted statistics pertaining to the global corrugated boxes market.
- Government organizations, regulatory authorities, policymakers and financial organizations looking for investment trends in global corrugated boxes market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
There is a growing demand for environment friendly packaging materials and corrugated boxes are recycled and they also don’t cause any harm to the environment. Implementation of various government norms to recycle packaging material in developing and developed nations worldwide is expected to have a significant positive impact on the corrugated boxes market. Additionally, various players and end users in the market are encouraging consumers and taking several initiatives to recycle the packaging material. This will also reduce the usage of raw material which is used to produce various packaging materials.
Growing packaging industry coupled with the increasing online shopping trends is expected to drive the corrugated boxes market over the forecast period. Increase in digitalization and e-commerce industry is directly fuelling the demand for packaging products such as corrugated boxes. Nowadays, online dealers and retailers are using product-specific corrugated boxes in order to keep the products safe from wear and tear, mechanical stress, and weather conditions while transportation. Additionally, the expediency and ease provided by online shopping and e-retail platforms such as hassle-free delivery, free shipping, and easy return policies are further estimated to drive the global corrugated boxes market significantly over the forecast period.
On the basis of Type segment, the market is categorized into slotted boxes, Telescope boxes, and Rigid boxes. Slotted boxes packaging segment is expected to dominate the global Corrugated Boxes market for the forecast period 2018-2025. Growing shipping and import-export activities are driving the slotted boxes segment. Slotted corrugated boxes are frequently used as shipping containers and offer a good measure of product protection. They also need inner parts such as bracing blocking, and cushioning to help protect various products and fragile substances, owing to which they are widely used in the food & beverage industry, thereby driving the segment growth.
On the end user basis, the market is bifurcated into food & beverage, consumer goods, personal care, pharmaceuticals, e-commerce and others. The food & beverage segment retained the largest market share in the global corrugated boxes market and is projected to observe the highest growth over the coming years. The growing demand for processed food products, growing disposable income, consumer lifestyle changes, and increase in home delivery of food & beverages are certain factors accelerating the demand for corrugated boxes during the forecast period. Growth in the various end use industries such as consumer goods, textile, fashion, and personal care are expected to drive the packaging market, further fuelling the corrugated boxes market demand over the forecast period.
Asia Pacific region is analysed to hold a major regional share for the global corrugated boxes market. Rising population, growing middle-class income, rise in the e-retail platforms, changes in the consumer shopping trends, growing working population who prefer online shopping has led to an upsurge in the demand for good packaging materials over the forecast period. Growing disposable income among the young population and shift in the spending patterns of the millennials population is expected to drive the packaging industry and corrugated boxes demand in the coming years.
Major players operating across the Corrugated Boxes market comprise of Smurfit Kappa Group, Amcor Ltd., International Paper, WestRock, Mondi Group, Georgia-Pacific LLC, Rengo Co. Ltd., DS Smith PLC, Packaging Corporation of America, and Cascades Inc. These industry players are adopting inorganic growth strategies including mergers & acquisitions, joint ventures along with organic strategies such as regional expansion and product launches to strengthen their market presence.