Global Corrugated Box Packaging Market is valued approximately USD 261.9 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 3.90% over the forecast period 2019-2026.
— Corrugated Box Packaging Market:
Global Corrugated Box Packaging Market is valued approximately USD 261.9 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 3.90% over the forecast period 2019-2026. The corrugated packaging products are combined with cushioning with structural rigidity within it, that enables prominent protection to fragile or heavy contents from damage. Its lightweight property and clean nature help in lowering shipping cost to the users and comprises of impactful graphics on it which is helpful in improving brand awareness among people and ultimately leads to the improvement in product sale. Also, corrugated packaging contains 88 percent of the recycled material, with additional fresh fibers originating from sustainably managed trees. Due to such feature of corrugated box packaging, it is gaining significant demand across the globe in various end use industries such as healthcare, food and beverages and electronics etc. Therefore, rapid industrialization and significant initiatives taken by government across the globe regarding industrialization is driving the growth of market over the forecast years For instance: as per the Indian Brand Equity Foundation, the government of India took ‘Make in India’ initiatives through which it aims to increase the share of manufacturing sector to the GDP to 25% percent by 2022, from 16 percent in 2018. Also, in Union Budget of 2018-19, the government of India reduced the income tax rate to 25% for all companies having a turnover of up to USD 38.75 million, to promote industrialization. Similarly, on September 2016, Hangzhou, China, the G20 initiatives was taken to support industrialization in Africa and least developed countries. The initiative aims to Support sustainable agriculture, investment in sustainable and secure energy, agri-business and agro-industry development and sustainable and resilient infrastructure and Industrialize through trade and public-private partnerships (PPPs) in sustainable infrastructure. In addition, rising demand of corrugated box packaging in emerging economies due to the rapid growth in e-commerce, retail and food & beverage industries is the factor creating a lucrative thrust to the growth of market over the forecast years. However, Volatility of corrugated box prices due to the fluctuation in prices of raw materials and Kraft papers is hampering the growth of market over the forecast years.
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The regional analysis of global Corrugated Box Packaging market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rapid growth in food & beverage industries in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as surging demand for consumer electronics manufacturing would create lucrative growth prospects for the Corrugated Box Packaging market across Asia-Pacific region.
Major market player included in this report are:
International Paper Company
Smurfit Kappa Group PLC
Oji Holdings Corporation
DS Smith PLC
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
Food and beverages
Electronics and home appliance
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Corrugated Box Packaging Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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