Foreseen to exhibit a Compound Annual Growth Rate (CAGR) of 4.3% from 2023 to 2033, the global demand for corrugated boxes is poised for robust expansion. Projections indicate a substantial increase in the market valuation, ascending from US$ 140.4 billion in 2023 to a noteworthy US$ 213.9 billion by 2033. This growth trajectory underscores the enduring importance of corrugated boxes across various industries, reflecting their versatility and reliability in packaging solutions. The anticipated surge signifies the pivotal role these boxes play in meeting the evolving demands of a dynamic market landscape, emphasizing their continued relevance in the foreseeable future.
The expansion of the corrugated box market faces challenges posed by intense competition from flexible plastic packaging alternatives, which are favored by manufacturers and retailers for their superior value proposition. Flexible packaging’s capability to decrease the weight of packaging translates to lower shipping and warehousing expenses, requiring less storage space. Implementing a flexible packaging system not only reduces overall packaging costs by 40% but also contributes to a 50% reduction in landfill waste and a significant 62% decrease in greenhouse gas (GHG) emissions. This emphasizes the eco-friendly and cost-effective advantages that flexible plastic packaging brings to the forefront.
The rising popularity of online shopping in Central and Eastern Europe, coupled with a focus on sustainability, is a driving force behind the corrugated box market.
Corrugated boxes used in Central and Eastern Europe prioritize sustainability and eco-friendly materials, resonating with nearly 80% of the population. Sustainable corrugated packaging solutions are preferred in 77% of cases for online shopping, reflecting a growing consumer preference for environmentally conscious choices.
Request Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-302
The growth of the corrugated box market is slowed by fierce competition from flexible plastic packaging Flexible packaging provides the best value for manufacturers and retailers. This is due to its ability to reduce packaging weight which results in reduced shipping and warehousing costs. Consequently, less space is needed for the packaging.
Digitalization is being implemented by Smurfit Kappa in the market for corrugated boxes through the development of a range of new products. The corrugated industry has been enriched by the introduction of digitalization by Smurfit Kappa, a renowned manufacturer of corrugated packaging solutions.
Graphic design customized for each client has produced various benefits, such as increased sales and greater flexibility. As well as developing new technologies and improving current ones, the company also looks forward to increasing its sustainability efforts. Innovations in these areas are driving the digitalization of paper-based packaging and creating substantial opportunities for the expansion of the corrugated box market.
The Major Key Payers Are:
- Mondi Group Plc
- Bee Packaging
- DS Smith Packaging Limited
- Oji Holdings Corporation
- Smurfit Kappa Group Plc
- International Paper Company
- others
Recent Developments by the Corrugated Box Industries
- Mondi announced the addition of a new product, BCoolBox, to its sustainable e-commerce portfolio on 1st February 2021, which could include fresh produce and food. It is a packaging solution made up of a corrugated range with thermo-insulation that is might keep food cold without having to rely on external cooling. As per the company, this new solution is designed to keep stored commodities at a consistent temperature of fewer than 7 degrees for 24 hours.
- International Paper completed the acquisition of two state-of-the-art corrugated box plants in Spain in March 2021. By acquiring this company, the company is likely to be able to enhance its capabilities in Madrid and Catalonia. Regarding EMEA, the corrugated box business is of strategic importance for the company. With a focus on fruit and vegetable packaging and e-commerce solutions, it offers high-quality packaging solutions in the industrial segment. The two businesses have been part of International Paper since April 1, 2021.
Innovative Products for Sustainable Packaging Solutions to Define the Market Position of Corrugated Box Manufacturers
In the corrugated cardboard box market, companies are actively pursuing the introduction of novel products, operational expansion, and strategic collaborations with fellow manufacturers. Moreover, key players in the custom corrugated boxes market are amplifying their manufacturing capacities, diversifying product lines, and extending their global reach. Prominent manufacturers within the corrugated box industry are additionally allocating efforts and investments towards research and development to drive innovation and bring new products to market.
Growth Drivers of the Corrugated Box Market
The sustained growth of the Corrugated Box Market can be attributed to several key factors:
Globalization of Trade
The interconnectedness of economies has fueled the need for efficient and secure packaging for international shipments. Corrugated boxes provide the required protection while optimizing storage and transportation.
Increased Online Shopping
The proliferation of online shopping platforms has led to a surge in demand for packaging materials. Corrugated boxes are the preferred choice due to their durability and suitability for various products.
Sustainability Initiatives
Government regulations and consumer preferences favor sustainable packaging solutions. Corrugated boxes, being recyclable and biodegradable, align with these initiatives and contribute to their widespread adoption.
Buy Now/Purchase: https://www.futuremarketinsights.com/checkout/302
Key segments
By Material Type:
- Virgin
- Recycled
By Board type:
- Single Face Board
- Single Wall Board
- Double Wall Board
- Triple Wall Board
By Grade type:
- Liner
- Fluting Medium
By Product Type:
- Slotted Box
- Folder Box
- Telescope Box
- Die-Cut Box
By End Use:
- Food
- Beverages
- Electricals & Electronics
- Healthcare
- Textiles & Apparels
- E-commerce
- Building & Construction
- Personal Care & Cosmetics
- Chemical & Fertilizers
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
