NEWARK, Del, March 21, 2023 (GLOBE NEWSWIRE) -- The global corrugated box market net valuation is estimated to be around US$ 140.4 billion in 2023. As per the market analysis report by FMI, it is anticipated to register a CAGR of 4.3% from 2023 to 2033 and reach an overall valuation of US$ 213.9 billion by the end of the forecast period.
Having faced the COVID-19 pandemic, the demand for corrugated boxes has grown significantly along with the proliferation of online market networks. People are becoming increasingly concerned and vocal about using sustainable products, which is leading to the corrugated box market's expansion.
Although corrugated boxes are increasingly in demand among consumers, the production energy required is significantly high than that for plastic production. In addition to using the wood pulp in their manufacturing, corrugated boxes have a significant environmental impact as corrugated plastic boxes are non-degradable. Owing to these reasons, manufacturers and packaging converters may face challenges to realize their full potential during the forecast years.
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Key Takeaways from the Corrugated Box Market Study Report
- The United States contributed more than 18% of the overall market revenue generated by the global market in the year 2022. The United States corrugated box market size is estimated to be nearly US$ 24,360.7 million in the present year 2023.
- The demand for corrugated boxes in almost all Asia Pacific countries is relatively high nowadays and is anticipated to display a high CAGR through 2033. The year-on-year growth rate of sales of corrugated boxes in the ASEAN region is projected to be 7.6% during the forecast years.
- Germany is the leading producer and supplier of corrugated boxes in the Europe region with a market value estimation of US$ 4,352 million in 2023.
Competitive Landscape for the Corrugated Box Market Players
Several notable players are operating in the global corrugated box market, including Mondi Group Plc, Bee Packaging, DS Smith Packaging Limited, Oji Holdings Corporation, Smurfit Kappa Group Plc, International Paper Company, WestRock Company, Georgia Pacific Packaging LLC, Pratt Industries, Inc., Tat Seng Packaging Group, VPK Group, STORA ENSO OYJ, Nelson Container Corporation, Great Little Box Company Ltd., Acme Corrugated Box Co. Inc.
Companies operating in the corrugated boxes market are aiming at product launches, expansions, and strategic partnerships with other manufacturers. Additionally, the key players are expanding their product manufacturing capabilities, product portfolio, and global presence.
Several leading corrugated box manufacturers are undertaking intensive research and development activities. Rengo Co., Ltd is a leading cardboard manufacturing company based in Japan and competing at the global level.
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Key segments of Corrugated Box Market-
By Material Type:
- Virgin
- Recycled
By Board type:
- Single Face 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
- Processed Food
- Fresh Produce
- Dairy Products
- Food Grains
- Confectionary and Bakery
- Other Foods
- Beverages
- Alcoholic
- Non-alcoholic
- Electricals & Electronics
- Industrial
- Consumer
- Healthcare
- Pharmaceutical
- Medical Devices
- Textiles & Apparels
- Tobacco
- E-commerce
- Building & Construction
- Homecare
- Automotive & Allied Industries
- Personal Care & Cosmetics
- Chemical & Fertilizers
- Others
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Recent Developments by the Corrugated Box Industries
- There is a new range of multipurpose paper developed by the industries that are expected to be suitable for both digital and flexographic printers. To make it possible for the printer to work alongside the packaging material, a multipurpose paper was created. As a result of this advancement, the dimensions of optimal digital printing have been expanded, which might allow digital printing to maximize its potential.
- Digitalization is being implemented by Smurfit Kappa in the market for corrugated boxes through the development of a range of new products.
- The Smurfit Kappa Group LLC, e.g., announced the opening of a new e-commerce corrugated packaging facility in the United Kingdom in 2021. It has started testing and launching new solutions in the e-commerce arena certified with reliable ISTA certification since June 29th, 2021.
Table of Content
1. Executive Summary | Corrugated Box Market
1.1. Global Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Definition
2.2. Market Taxonomy
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation Trends
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Explore FMI’s Extensive Coverage on Packaging Domain:
Corrugated Mailers Market Share: The global corrugated mailers market is set to enjoy a valuation of US$ 7.1 Billion by 2032, at a CAGR of 7.0%.
Corrugated Bin Boxes Market Size: The overall demand for corrugated bin boxes is projected to grow at a CAGR of 4.3% between 2022 and 2032, totaling around 36,855.1 Million by 2032.
Corrugated Wraps Market Demand: The global corrugated wraps market is expected to accumulate a market value of US$ 5,589.1 Million by registering a CAGR of 4.5% in the forecast period 2022-2032.
Corrugated Handle Box Market Forecast: Growing e-commerce and the need for a sustainable packaging solution boost the demand for corrugated handle box By 2033.
Corrugated Box Machines Market Outlook: The corrugated box machines market value is projected to increase US$ 1,624 Million by 2032.
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