Global Corrugated Box Market
Global corrugated box market valued approximately USD 66.9 billion in 2018 is anticipated to grow with a rate of more than 4.6 % over the forecast period 2019-2026.
Among the key drivers for the corrugated box, the market is strong growth in the food and beverage industry, recyclability of corrugated boxes, rising e-commerce industry, coupled with increasing spending by consumers for packaged products. Corrugated box market is witnessing significant growth owing to rise in the manufacturing activities.
A corrugated box is used as a packaging solution to a variety of products thus, growth in various industries is expected to drive the adoption of corrugated boxes over the forecast period. The rising e-commerce industry is significantly driving the demand for corrugated boxes for packaging products such as for optimum protection of product in shipping and handling. For instance, as per the India brand equity foundation, the e-commerce sector of India is growing at a significant pace. This sector is expected to reach $120 billion in 2020 as compared to $39 billion in 2017 representing about 51% of annual growth, the highest rate globally. Similarly, as per International Trade Administration United States, China is the world’s largest e-commerce sector that is projected to reach around $1.6 trillion by the end of 2019. Thus, the rise in e-commerce industry is thereby supplementing the adoption & growth corrugated box market. Furthermore, emerging economies and the advent of shelf-ready packaging technology is expected to create lucrative growth prospects of the corrugated box market across the globe. However, adherence to environmental standards acts as a key restraint for the market during the forecast period.
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On the basis of segmentation, the corrugated box market is segmented into material, printing ink, printing technology, type, and end-user. On the basis of printing technology segment, the market is sub-segmented into flexographic printing, digital printing, lithography printing, and others, of which flexography printing segment holds the major share owing to its cost-effectiveness and wide application in different industries such as food & beverage and e-commerce industry. The type segment is classified into slotted boxes, telescope and rigid boxes of which slotted box segment dominates the market. On the basis of end-users, the market is bifurcated into food & beverages, electronic goods, home & personal care goods, chemicals, textile goods, glassware & ceramics, paper products, and others. The food and beverage segment expected to dominate the end-use segment.
The regional analysis of corrugated box market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America, and ROW. North America holds the leading position in the corrugated box market. Whereas, Asia-Pacific is expected to emerge as the fastest-growing region in terms of market share. The growth of the Asia-Pacific region is witnessed owing to emerging economies such as India and China, coupled with the growing application of these boxes in food and beverage and electronic goods industries.
The leading market players include-
DS Smith PLC
Smurfit Kappa Group
Rengo Co. Ltd.
Packaging Corporation of America
Kapstone Paper and Packaging Corporation
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 product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Printing Ink
Hot Melt-Based Ink
By Printing Technology
By End-Use Industry
Food & Beverages
Home & Personal Care Goods
Glassware & Ceramics
Middle East & Africa
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Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Corrugated Box Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers VARs
Third-party knowledge providers
Our analysts can customize this market research report to meet your requirements.
Name: Jennifer Daniel
Organization: Planet Market Reports