Market Overview
The global corrugated boxes market is extremely dynamic in nature and is expected to garner positive growth over the forecast period. Back in 2016, the global market valuation stood at USD 61,229.4 Million and, according to the data released by Market Research Future (MRFR), the projected growth rate is slated to be 3.91%.
The growth of the market is primarily influenced by the fast-paced growth in the electronic industry, rising expansion of the ecommerce sector, and the prevailing demand for product safety. The growth of the electronic sector, in particular, is a major factor of the global corrugated boxes market. On the other hand, the regulations imposed by the government and the striking effects on the environment are identified to cause major hindrance to the overall growth of the market.
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Market Segmentation
The global corrugated boxes market segmentation is done on the basis of the following components: type, application, and wall.
By type, the market includes self-erecting boxes, rigid boxes, slotted boxes, telescope boxes, and others.
By wall, the market segments into triple wall, double wall, and single wall.
By application, the market comprises consumer goods, food & beverages, healthcare, personal care, ecommerce, and others. Among these segments, the food & beverages market holds the highest growth potential and is expected to lead this market category during the forecast period.
Competitive Landscape
The report by MRFR on the global corrugated boxes market included a number of key players. This includes names such as Georgia-Pacific LLC (U.S.), Mondi Group (Austria), Smurfit Kappa Group (Ireland), International Paper Company (U.S.), KapStone Paper and Packaging Corporation (U.S.), Archis Packaging Pvt. Ltd. (India), Orora Packaging Australia Pty Ltd. (Australia), WestRock (U.S.), Nefab Group (Sweden), Europac Group (U.K.) and others.
Regional Analysis
The global corrugated boxes market is regionally distributed among the following major regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).
The Asia Pacific region leads the corrugated boxes market standings and is expected to carry on with its dominance over the forecast period. A number of key factors like the fast-paced economic development, strong and favorable support from the government, availability of raw materials, and cheap labor pool is pushing the demand for the safe packaging manufacturing sector herein. Additionally, the growth of the regional market is aided by the growth of the packaging industry in countries like Vietnam, India, Indonesia, Cambodia, Bangladesh, and Thailand. Both India and China stand out as the major contributors of the regional corrugated boxes market. China is especially projected to stand out with the largest market share over the forecast period between 2016 and 2021. These countries are driven by their growing economical state, the increasing population base, and the rising disposable income of people. The growth of these countries is accelerating the overall growth of the corrugated boxes market in the Asia Pacific region.
The North American region is a key market in the global landscape and follows Asia Pacific as the second largest market share holder. The growth of this region can be attributed to the presence of developed countries like the US and Canada herein. Owing to the increasing demand for corrugated boxes from the ecommerce industry, manufacturers in this region are planning to increase their production capacities. This, in turn, boosting the global standings of the North American regional market. Major players like WestRock, Georgia Pacific LLC, International Paper Company, KapStone Paper and Packaging Corporation, and others are aiding the market growth with constant developments and innovations. The European region is also expected to garner significant growth over the forecast period due to the high rate of paper recycling done here in this region. The high paper recycling rate is prompting increasing production of corrugated boxes, one which is supporting the growth of the regional market in a positive manner.
Keywords Update
May 2nd, 2019, Mondi Corrugated Packaging made an announcement in a release of €30 million investment at its Germany-based Ansbach facility for heavy duty corrugates with a growing focus on the automotive sector.
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