Global Corrugated Packaging Market - Overview
The global corrugated packaging market has experienced a humongous growth over the past years and as per the estimation the global corrugated packaging market will grow more on a rapid pace during the forecast period. The rising population and growing per capita income are the major growth driver for this market. Along with this the growing applications segment such as food & beverages, personal care, Pharmaceuticals & healthcare, consumer goods, electronic goods have contributed a major role in the overall market growth. Corrugated Packaging is one of the most preferred packaging for small, medium and large sized products which in turn has increased the demand across the globe. Growing ecommerce industry has become on the major trend in the global corrugated packaging market. Banning of plastic packaging has also become the major reason for the rising demand of corrugated packaging market.
Global corrugated packaging has very broad market in coming recent years. MRFR analysts has predicted that food & beverages and consumer goods industry are about to grow at a rapid pace, moreover, the speedy rising ecommerce business has also been a growth momentum which means more demand for these industries and in turn for corrugated packaging.
Global corrugated packaging has very broad market in coming recent years. MRFR analysts has predicted that food & beverages and consumer goods industry are about to grow at a rapid pace, moreover, the speedy rising ecommerce business has also been a growth momentum which means more demand for these industries and in turn for corrugated packaging.
Global corrugated packaging market is growing with the rapid pace; mainly due to advancement in technologies. According to a recent study report published by the Market Research Future, The global market of corrugated packaging is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2023).
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Key Players:
Mondi Group (U.S.), Smurfit Kappa Group (Ireland), International Paper Company (Tennessee), Orora Packaging Australia Pty Ltd (Australia), WestRock (U.S.), Georgia-Pacific LLC (Atlanta), Archis Packaging (India) Pvt. Ltd., Europac Group (U.K.), KapStone Paper and Packaging Corporation (U.S.) and Nefab Group (Sweden) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Corrugated packaging market.
Corrugated packaging Market - Competitive Analysis
Corrugated packaging market appears to be competitive with the presence of several large and small players operating in the Corrugated packaging Market. These Key players compete based upon pricing, quality, Technology and reputation. Corrugated packaging market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further. Manufacturers operating in the corrugated packaging market strive to respond to the growing demand for corrugated packaging. Rapid growth in the electronic sector is ultimately driving the demand of the corrugated packaging. The high-quality of packaging materials attracts more customers, having a positive impact on the global market. Presently, corrugated boxes are considered common and are a trusted mode of packaging to maintain the quality of the products until they reach their destination. Moreover, manufacturers mainly ensure to deliver the best quality products based on innovative technologies, and best practices.
Industry/ Innovation/ Related News:
In 2016, Mondi Group acquired SIMET S.A., the corrugated plant in Poland, to expand and upgrade their operation to high-efficient box plant, which includes corrugated line for on-site board production.
On 9th Aug 2016, Orora opened corrugated packaging and cold storage facility in Bundaber.
In 2017, WestRock planned to acquire multi packaging solutions for broadened product capabilities and expanded presence in targeted end markets.
In 2017, the company collaborated with Sun Chemical, the leading producer of printing inks and coatings so as to showcase their packaging solutions and enhance their productivity
Corrugated packaging Market - Segments:
Global Corrugated packaging Market is segmented in to four Key dynamics for an easy grasp and enhanced understanding.
Segmentation by Type: Bliss / Rigid Boxes, Self-Erecting Boxes, Telescope boxes, Slotted boxes and others.
Segmentation by Wall Construction: Single-wall, Double-wall and Triple-wall.
Segmentation by Application: Food & beverages, Electronic goods, Personal care, Pharmaceuticals & healthcare and others.
Segmentation by Region: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Corrugated packaging Market - Regional Analysis
Geographically, North America is a major revenue generator to the global corrugated packaging market where the US market has become one of the most attractive place for the manufacturers owing to the rising ecommerce venture and shifting trends towards online shopping. Europe is the second leading region and Asia-Pacific has emerged as the fastest growing region.
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