ID: MRFR/PNT/2835-CR | October 2020 | Region: Global | 185 pages
Corrugated Boxes Market is projected to be worth USD 278.18 billion by 2028, registering a CAGR of 5.38% during the forecast period (2021 - 2028)., The market was valued at USD 186.18 billion in 2021.
Corrugated boxes have seen enormous growth in the packaging industry in reference to the growth of the electronic industry concurrent with the growth of the e-commerce industry in recent years. This sector is evolving with various new developments. Due to the variety of electronic online models, the sale of consumer electronics has increased variably. Online payments have been increased recently due to an increase in the usage of mobile and internet penetration. This has created a good link between the companies and the customer.
An increase in sustainable box packaging is due to the rise in the e-commerce industry, it leads to an increase in the demand for corrugated boxes. A considerable online base has been created because of the rising e-commerce sector coupled with technological innovations. These boxes are preferred for small medium and large-size products. Which has given a boost to the market.
The year 2020 will be saved in public memory as the world has found itself amid the covid 19 crises, the outbreak of covid 19 exerted unimaginable pressure over the industrial sectors, to deal with the stress the analysts are working over various strategies which gives details about the market insights besides working on this analysts are working upon various strategies to help the client to deal with the situation Expertises are working upon various reports to help the clients with other industrial vehicles. The government has taken various initiatives like lockdowns and curfews to curb the spread of the pandemic on a large scale. The market is experiencing reduced production because of the unavailability of labor which is giving them a tough time to cover the losses and meet the market demand.
However, the government sector of the developing and developed economies is investing in the research and development procedure that is likely to bring up new market initiatives and help the key market players cover up the losses that were recorded in the pandemic year of 2020.
The key market players of the global market have a major role to play in helping the market improve its revenue scale, as well as, help the analysts to draw a competitive margin amongst them. The eminent players of the market are Packaging Corporation of America, Archis Packaging (India) Pvt. Ltd, Europac Group, Mondi Group, International Paper, Orora Packaging Australia Pty Ltd, DS Smith, Smurfit Kappa Group, Georgia-Pacific LLC.
The growth of the global Corrugated Boxes market research will approximately enhance by USD 278.18 billion by 2028 with 5.38% of CAGR during the forecast period 2021-2028.
The growth of the market is due to the rapid growth in the e-commerce industry and the various technological advances plus its multiple uses. The corrugated boxes can be put in the use of food, beverage, pharmaceutical, personal care, consumer goods, and various others.
Value Chain Analysis:
Both the demand and supply of the global corrugated Boxes Market are increasing day by day. The net worth of this sector has enhanced drastically due to advancements in technological innovations, the rapid rise in the sale of the e-commerce industry. Multiple usages of the corrugated boxes, increase in the internet, and the mobile penetration, acceptance to the online payments and the favorable demographics.
Although there are various regulations of the governments which is the challenging factor of this market for example restriction on the size 201 or 204 of IS: 6481-1971, to safeguard the fragile items the packaging should be liner (separator) from the top, bottom, and center for cushioning.
On the basis of type :
On the basis of slotted boxes:
On the basis of wall construction:
On the basis of application
With the hold of 52% share, the Asia Pacific region contributes the highest share on the market and it’s forecasted to behold the highest growth in the coming years. Rapid growth in the food and beverages and the pharmaceutical industry is the reason behind the growth of this region. It proves to be a good opportunity for the corrugated boxes market in the region. Followed by the APAC region, the North American market is expected to register a decent growth in the market size by the end of the global forecast period in 2023. The key market players are expected to invest in the development of varied methodologies and work on product portfolio development and launching.
Experts are analyzing various market strategies which can be implemented to recover the covid 19 pandemics, the analyst is working upon various reports of industrial vehicles to give a detailed analysis to their clients to help them in dealing with the covid pandemic. The Asia Pacific is expected to grow at the highest rate in the forecasted period currently it holds the share of 52% due to the growth in the food beverages and the pharmaceutical industry. the overall growth is attributed to the increase in the eCommerce sector and the technological innovations which lead to an increase in the sale of corrugated boxes.
Although everything comes with some challenges, in this market there are various government regulations of the size and the packing of fragile products. on basis of the construction of the wall the single wall market holds the highest share in recent years and it is estimated to have a tremendous CAGR in the coming forecasted period. These single-wall sheets are cost-effective and extensively used in the shipping case. The businesses of ordering online food have prompted the market to the next level. For survival in this industry technological advancements are a must.
|Market Size||2028: USD 278.18 billion|
|CAGR||5.38% CAGR (2021-2028)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Wall Construction , Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Packaging Corporation of America, Archis Packaging (India) Pvt. Ltd, Europac Group, Mondi Group, International Paper, Orora Packaging Australia Pty Ltd, DS Smith, Smurfit Kappa Group, Georgia-Pacific LLC.|
|Key Market Opportunities||Rapid growth in the food and beverages and the pharmaceutical industry|
|Key Market Drivers||Rapid growth in online food retailing|
Frequently Asked Questions (FAQ) :
The market growth rate in the coming years can be 5.38%.
The global market is expected to reach a valuation of USD 278.18 billion by 2028.
The significant vendors in the worldwide market are WestRock, Packaging Corporation of America, International Paper, Georgia-Pacific LLC, DS Smith, Mondi Group, Smurfit Kappa Group, Europac Group, Orora Packaging Australia Pty Ltd, Nefab Group, Archis Packaging (India) Pvt. Ltd, and others.
The chief growth-boosters in the market are the expanding E-commerce industry, paired with the surge in the preference for sustainable packaging solutions among others.
APAC holds the largest share in the market.
The rigid boxes segment can take the lead in the market.
APAC holds a share of 52% in the global market, making it the leading region.