Summary
Corrugated Boxes Business Market Segments, ~4.15% of CAGR, Growth, Statistics | Global Corrugated Boxes Business Market Information by Type (Rigid Boxes, Self-Erecting Boxes, Telescope Boxes, Slotted Boxes and Others), By Wall Construction (Single-Wall, Double-Wall, Triple-Wall), By Application (Food & Beverages, Consumer Goods, Personal Care, Healthcare, E-Commerce, Others) And Region - Forecast To 2025
Corrugated Boxes Business Market – Overview
The augmented purchase of consumer electronics and other large items necessitate the use of Corrugated Boxes Business greatly. Reports that explore the packaging and transport industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. Earnings valued at USD 87.78 billion are expected to be created with a 4.15 % CAGR by 2025.
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 Business 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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Key Players
- Smurfit Kappa Group
- International Paper
- Mondi Group
- Orora Packaging Australia Pty Ltd
- Archis Packaging (India) Pvt. Ltd
- DS Smith
- Nefab Group
- WestRock
- Georgia-Pacific LLC
- Europac Group
- Packaging Corporation of America
Industry Updates
Sep 2019 Amazon, the e-commerce company has unveiled its long-term sustainable packaging initiatives as per which the company plans to remove single-use plastic packing by June 2020. Also, the online retailer will tap recycled paper cushions to substitute plastic dunnage through all its FCs in India by the conclusion of the year. Moreover, its packaging material in the mode of Corrugated Boxes Business and paper cushions are manufactured by means of recycled content as high as 100% and are also completely recyclable.
Detailed Regional Analysis
The global Corrugated Boxes Business 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 Business 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 Business market. China is especially projected to stand out with the largest market share over the forecast period between 2016 and 2021.
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 Business 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.
Segmental Analysis
The global Corrugated Boxes Business 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.
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