DUBAI, United Arab Emirates, December 8, 2021 / PRNewswire / – According to Detailed Analysis by IMF, the Global Corrugated Box Market is about to overtake $ 128.3 billion in 2021. The increasing applications of corrugated boxes in various end-use industries such as pharmaceuticals, consumer electronics, healthcare, textiles, chemicals and others are driving demand in the market.
Corrugated cardboard boxes find a wide range of applications in the food and beverage industry. It is increasingly used as a secondary packaging solution for processed foods, dairy products and confectionery, among others. For this reason, the market is expected to grow at 4.3% CAGR during the forecast period 2021-2031.
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The implementation of strict regulations on the use of plastic as secondary packaging solutions is driving the growth of the market. For example, according to a report by the Energy and Resources Institute (TERI), in January 2019, the government of one Indian state, Tamil Nadu, has banned the use of plastic carrier bags and other plastic-based secondary packaging solutions.
It is expected that a large number of such initiatives will propel the demand for corrugated boxes, with market growing 4.4% year on year in 2021.
In terms of material type, the recycled segment is expected to register strong demand, with an expansion of nearly 4.7% CAGR between 2021 and 2031. Growing sustainability concerns regarding environmental conservation, high availability of raw materials and reduction of costs and energy for the manufacture of recycled corrugated boxes are driving the growth of the segment .
“The growing trend towards green packaging and the growing demand for personalized, safe and shock-absorbing packaging solutions in the personal care and cosmetics industry for shipping online shopping are increasing the market growth. “ says an IMF analyst.
Key points to remember from Corrugated cardboard boxes Market research
- The United States is expected to take the lion’s share of the North America market, representing around 90% of demand until 2031.
- Germany should become the most profitable market of Europe, creating an additional opportunity to US $ 4 billion by the end of 2021.
- India should hold a significant share of the Asia Pacific excluding Japan market, representing sales of more than 20% until 2021.
- China is expected to become a very lucrative market, posting sales at a 4.4% CAGR between 2021 and 2031.
- On the basis of panel type, the single wall segment is expected to register the fastest growing market in the market, accounting for around 70% of sales in 2021.
- The increasing use of virgin corrugated boxes for the packaging of high-end personal care and cosmetic products to provide luxurious appeal is propelling the demand for corrugated boxes in the virgin segment.
- The growing demand for corrugated boxes for the delivery of ready-to-eat products such as pizzas, cookies, cakes and burgers, among others, is accelerating sales in the food and beverage segment.
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- Growing concerns about deforestation and the high cost of manufacturing virgin corrugated boxes are hampering the growth of the virgin segment.
- Poor durability in wet weather and vulnerability to water are the factors hampering sales of corrugated boxes.
The top five companies in the global corrugated box market are Smurfit Kappa Group plc, International Paper Company, WestRock Company, Georgia Pacific LLC and DS Smith plc. According to the IMF, these actors collectively represent nearly 30% to 35% of the revenue share in 2021.
Major manufacturers aim to adopt strategies such as product launches, expansions, mergers, acquisitions and strategic partnerships with other players to expand their product portfolio, manufacturing capabilities and global presence. For example,
- In June 2021, Smurfit Kappa Group LLC, a leading supplier of paper-based packaging, announced the opening of a new corrugated cardboard packaging plant for e-commerce in Northampton, United Kingdom This will help the company to launch and test new solutions in the e-commerce sector certified by the reliable certification of the International Safe Transfer Association (ISTA).
- In February 2021, Mondi, a British multinational packaging and paper group, has announced the launch of its new sustainable e-commerce product BCoolBox, which can transport fresh produce and food. The corrugated range of the product has thermal insulation which ensures that food is cooled below 7 degrees Celsius for at least 24 hours without the aid of an external cooling device.
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Some of the major players operating in the market presented by IMF are:
- Smurfit Kappa Group Plc
- Mondi group plc
- International Paper Society
- WestRock Company
- Georgia Pacific Packaging LLC
- Pratt Industries, Inc.
- Oji Holding Company
- DS Smith Packaging Limited
- Tat Seng packing group
- VPK Packaging Group nv
- STORA ENSO OYJ
- Nelson Container Corporation
- Great Little Box Company Ltd.
- Action Box Inc.
- Acme Corrugated Box Co. Inc.
- Wertheimer Box Corporation
- Shillington Box Company
- Bee packing
- AD Inc. of Milwaukee
- Shanghai DE printed box
More valuable information on Corrugated cardboard boxes Marlet
A new report released by IMF offers an in-depth analysis of the global corrugated boxes market, revealing vital dynamics accelerating market growth between 2021 and 2031. The survey also forecasts sales projections for the corrugated boxes market with detailed segmentation:
By type of material:
By type of card:
- Single-sided board
- Single wall panel
- Double wall panel
- Triple wall panel
By grade type:
By product type:
- Slot box
- Folder box
- Telescope box
- Die-cut box
By end use:
- Processed foods
- Fresh products
- Dairy products
- Confectionery & Bakery
- Other meals
- Electricity and electronics
- Health care
- Medical equipement
- Textiles and clothing
- the tobacco
- Building construction
- Home Care
- Automotive and related industries
- Personal care and cosmetics
- Chemicals and fertilizers
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East & Africa
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Key questions addressed in the report
- The report provides an overview of the demand outlook of the Corrugated Boxes market for the forecast period 2021-2031
- The market research also highlights the forecasted sales growth for the Corrugated Boxes market between 2021 and 2031.
- The Corrugated Boxes market research identifies key growth drivers, restraints, and other forces impacting dominant trends and evaluating the current market size and forecast and technological advancement in the market. within the industry
- Analysis of corrugated boxes market shares, covering key companies in the sector and coverage of strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships, etc.
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