Corrugated Boxes Market (By Material Type: VirginFiber, Recycled Fiber; By End Use: Food & Beverages, Chemicals, Textile, Personal Care & Household, Electricals & Electronics, Ecommerce, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026
The global corrugated boxes market growth is expanding at a CAGR of around 5.2% during forecast period 2019 to 2026 and expected to reach around US$ 215 Bn by 2026.
A corrugated box is a kind of packing that has three layers in its structure; inside liner, center fluting, and outside liner. Corrugated boxes are commonly comprised of stringy mash extricated from the pine tree. The corrugated boxes are more durable than the cardboard boxes and they can easily handle the pressure in stacked up transportation. The size of the corrugated boxes can be effectively produced because of its adaptable properties. Moreover, it is eco-friendly in nature as they are produced without the use of chemicals and recyclable.
Market Dynamics
The growth of the market is essentially driven by the increasing demand for packaging by various industries such as food & beverages, and electric & electronics, textile, personal care, and household products. The growth in end use industry has propelled the demand for global corrugated boxes. Additionally, the e-commerce industry is encountering vigorous growth on account of the comfort offered by online shopping for instance return policy, home delivery, and free shipping options. As online retailers use product-specific corrugated boxes to protect products from mechanical stress, this is encouraging the global market growth in the forthcoming years. Moreover, many manufacturers are investing huge amounts of money in research and development to improve the corrugated boxes. These are widely utilized as a secondary packaging solution to pack various kind products by different end use industries because of its features like optimum protection, recyclable, lightweight, flexible, and high durability. These characteristics are anticipated to witness substantial growth in the global corrugated boxes market during the forecast period.
By material type, recycled fiber segment dominated the corrugated boxes market
Based on material type, the market has been segmented recycled fiber and virgin fiber. The recycled fiber segment accounts of the largest share in the market and are anticipated to grow at a CAGR throughout the forecast period.
Recycled fiber is high in demand due to its properties like lightweight, recyclable, protect fragile item. These properties are fueling the demand for recycled fiber for the production of corrugated boxes. Moreover, extensive usage in the packaging of lightweight products like electronics, fast moving consumer goods, and cosmetic items are driving the growth of this segment in the forthcoming years.
Based on end use, the food & beverages segment is expected to dominate during the forecast period
Based on end use, the market has been segmented into e-commerce, chemicals, electricals & electronics, food & beverages, textile, personal care & household, and others. The food & beverage segment held the largest market share and anticipated to witness the highest growth rate during the forecasting period. The main factors that are driving the growth of this segment are rising demand for processed food items, change in lifestyle of consumers, increase in disposable income, and rise in online retailing of food & beverages. This anticipated to accelerate the dominance of the food & beverages segment in the global market during the forecast period.
The market research study on “Corrugated Boxes Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global corrugated boxes market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global corrugated boxes market, its material type, end use, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global corrugated boxes market size and volume, and segment markets by material type, end use, and geography along with the information on companies operating in the market. The corrugated boxes market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
In 2018, North America dominated the regional market with a maximum market share
North America is holding the highest market share of the corrugated boxes market and the region is also anticipated to maintain its dominance during the forecast period. The rapid growth in e-commerce industry, low cost, increase in consumption of packaged products, and better product protection are the major driving factor for the region in the global market. Moreover, the recent acquisition of Kapstone Paper and Westrock Company will enhance the growth of market in the US. Many producers are preparing to increase their manufacturing capacities due to rising demand from various end use industries.This is expected to accelerate the growth in the global corrugated boxes market over the forecast period.
Asia Pacific is anticipated to project the highest CAGR in the global market over the forecast period. The manufacturers are investing in developing countries to meet the demand of corrugated boxes. Moreover, changing lifestyle of consumers, rise in online shopping, increase in awareness related to eco-friendly packaging, and strong economy growth in countries like China and India, are anticipated to fuel the market growth in the global corrugated boxes market during the forecast.
The players profiled in the report include Packaging Corporation of America, West Rock, Georgio-Pacific LLC, Archis Packaging (India) Pvt. Ltd., DS Smith, Nefab Group, Mondi Group, Smurfit Kappa Group, Nine Dragons Paper, International Paper, and Europac Group. The companies are involved in mergers and acquisitions and new product development for expanding their market share and also for gaining competitive advantages over its competitors.
Market Segmentation
Market By Material Type
- VirginFiber
- Recycled Fiber
Market By End Use
- Food & Beverages
- Chemicals
- Textile
- Personal Care & Household
- Electricals & Electronics
- Ecommerce
- Others
Market By Geography
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
Which are the corrugated boxes market growth factors?
The increasing demand for packaging by various industries such as food & beverages, and electric & electronics, textile, personal care, and household products are the growth factors of corrugated boxes market.
How much is the corrugated boxes market size?
According to Acumen Research and Consulting, the corrugated boxes market value is anticipated to be worth around US$ 215 billion in 2026.
What is the CAGR of corrugated boxes market during the forecast period 2019 to 2026?
The corrugated boxes market is anticipated to grow over 5.2% CAGR during the forecast period 2019 to 2026.
Which region held the maximum share of the corrugated boxes market?
North America held maximum share in 2018 for corrugated boxes market.
Which region is projected to grow at a fastest rate during the forecast period?
Asia Pacific is projected to grow at a fast pace during forecast period in the corrugated boxes market.
Which are the top key players operating in the corrugated boxes market?
Packaging Corporation of America, West Rock, Georgio-Pacific LLC, Archis Packaging (India) Pvt. Ltd., DS Smith, Nefab Group, Mondi Group, and Smurfit Kappa Group are the top players operating in the corrugated boxes market.
Which are the materials type of corrugated boxes market?
VirginFiber and Recycled Fiber are the materials type of corrugated boxes market.
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