The new report by Expert Market Research titled, ‘Global Corrugated Boxes Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global corrugated boxes market, assessing the market based on its segments like materials used, end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2022): About USD 233.6 billion
Forecast CAGR (2023-2028): 5%
The corrugated boxes market is being driven by the thriving transportation industry owing to the growing expansion of the retail sector. In addition to this, the increasing inclination of major transportation companies towards using sustainable, customisable, and easy to handle packaging solutions is propelling the demand for corrugated boxes. Moreover, the stringent regulations of the government aimed towards encouraging the use of eco-friendly packaging materials is likely to provide impetus to the market in the forecast period. In terms of region, the Asia Pacific accounts for a significant share in the market owing to the high population base in India and China which is generating significant transportation needs, thereby boosting the demand for corrugated boxes.
Industry Definition and Major Segments
Corrugated boxes are defined as the packaging materials which are made up of corrugated cardboard sheets and are used in the packaging industry as small containers, medium and large containers for delicate items, and can even provide structural support to less rigid items like notepads, and clothing items, among others. Moreover, corrugated boxes are light-weight, cost-effective, and crush resistant.
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On the basis of material used, the market can be segmented into:
Based on end use, the market has been categorised into:
Food Products and Beverages
Electrical and Electronic Goods
Personal Care and Household Goods
Glassware and Ceramics
The regional markets for corrugated boxes include:
Middle East and Africa
The key trends in the corrugated boxes market include the technological advancements in the automotive and aerospace and defence industry which are accelerating the transportation of fragile equipment. The electronic equipment manufactured in these industries require a strong, and sustainable packaging solution. These demands are fulfilled by corrugated boxes. Meanwhile, the thriving e-commerce industry is an important trend in the market, which is boosting the demand for corrugated boxes owing to the increasing sales of variety of products on these platforms. Moreover, the increasing need for attractive packaging is likely to catapult the demand for the product in the coming years.
Key Market Players
The major players in the market are International Paper Company, Nine Dragons Paper, WestRock Company, and Smurfit Kappa Group, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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