The Global Corrugated and Paperboard Boxes Market is Projected to Reach US$321.5 Billion by 2024

Booming E-Commerce Sales and the Rising Need for Retail-Ready Packaging Formats to Fuel Growth in the Corrugated and Paperboard Boxes Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, market size and demand forecasts on the global Corrugated and Paperboard Boxes market. The global Corrugated and Paperboard Boxes market is projected to reach US$321.5 billion by 2024, driven by the growing packaging needs for food & beverage and durable goods markets. The rapid growth of e-commerce market constitutes a major growth driver for the corrugated packaging market, worldwide.

Packaging is a highly versatile aspect of a product and an important component of the entire production chain. Developments over the years have led to the emergence of a wide range of materials, including paper and paperboard, flexibles, glass, metal, plastic, and others for packaging purposes. Among these, corrugated and paperboard packaging products are widely adopted due to their sustainable characteristic compared to plastics. Almost all types of consumer and industrial products are packaged and marketed in cardboard or paperboard boxes. Corrugated packaging is preferred due to their light weight, high strength, higher durability, recyclability and cost effectiveness. Available in a variety of shapes and sizes, corrugated and paperboard boxes are used in the packaging of foods and beverages, cosmetics, pharmaceuticals, chemicals, consumer and electronic goods, furniture and other durables.

Over the years, the global market for corrugated and paperboard boxes has witnessed strong growth and will continue to experience stable growth in the coming years driven by the expanding global population and rising per capita income levels of people that will spur demand for a range of consumer and industrial products, necessitating the use of corrugated boxes for shipping purposes. The increased demand for prepared and processed foods is expected stimulate demand for boxes. With growing consumer appetite for convenience foods, focus of packaging companies is on convenience packaging solutions that come with features such as ease of opening and usage, environment friendliness, disposability, ease of carrying and storage, and attractiveness, among others. Durable goods segment, which utilizes costly and large boxes, is identified as an important growth driver for the market. Increased industrial and manufacturing activity and rapidly growing sales of electronics goods and home appliances are spurring demand for corrugated packaging.

In the coming years, the adoption of custom box sizes and higher quality printing will enable the corrugated and paperboard boxes market to gain strength, specifically in the modern retail and e-commerce markets. The market is also expected to benefit immensely from the rising customer demand for boxes featuring high quality graphics, not just as a distinguishing factor but also to provide important marketing messages. The advent of specialized coatings and the availability of a range of advanced printing techniques including digital printing are making it possible to easily reproduce attractive and colorful graphics onto the surface of the box, in an economical manner. In addition, the market is witnessing a move towards corrugated boxes with value-added features such as easy tear strips, as well as boxes that are custom made to suit the needs of specific types of packaged content. Rapid growth of e-commerce industry and increasing demand for retail-ready packaging solutions are major factors driving demand for corrugated and paperboard boxes, globally. The thriving e-commerce market, in particular, is expected play a vital role in transforming the commoditized shipping containers into packaging with tremendous potential for branding and marketing of the goods. Demand for corrugated and paperboard boxes is also being spurred by the retail ready packaging solutions, which help in providing a unique space for a product on the store shelves, besides aiding in reducing labor costs through easy identification and stocking.

As stated by the new market research report on Corrugated and Paperboard Boxes, Asia-Pacific represents the largest regional market, worldwide. Asia-Pacific is also forecast to register the fastest CAGR of % over the analysis period, with growth attributed to the strong growth being witnessed in the e-commerce market and food and beverages sector across the region. Growing income levels and expanding middle class segment in developing regions continues to drive consumption of packaged consumer goods, such as beverages, processed foods, and personal care products, thereby enhancing the demand for corrugated boxes. In developed and well-established markets, such as the US, Western Europe, and Japan, corrugated and paperboard boxes have assumed a commodity status. In North America, escalating demand for electronics goods and an expanding food and beverages industry offer growth opportunities for the market. Europe is expected to witness increasing adoption of corrugated packaging as an eco-friendly packaging option across several economies. Given the mature market conditions, developed markets are witnessing a trend towards multiple packaging materials, advanced packaging with superior graphics, and contract packaging.

Major players in the market include Cascades Inc., DS Smith Plc, Georgia-Pacific Corporation, Graphic Packaging International LLC, International Paper, Klabin SA, Lee & Man Paper Manufacturing Ltd, Mondi plc, Nine Dragons Paper (Holdings) Limited, Nippon Paper Industries Co. Ltd., Oji Holdings Corporation, Orora Ltd, Packaging Corporation of America, Rengo Co. Ltd., SAICA, Smurfit Kappa Group Plc, Visy Pty Ltd., and WestRock Company, among others.

The research report titled “Corrugated and Paperboard Boxes: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil, Mexico and Rest of Latin America) and Rest of World. In value terms, the report analyzes the corrugated and paperboard boxes market by the product segments (Corrugated & Solid Fiber, Folding Paperboard Box and Set-Up Paperboard Box) and End-Use Segment (Non-Durables (Food & Beverages, Paper & Publishing Products, Chemicals & Allied Products, and Others) and Durables.

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