The global corrugated boxes market was worth $ 61.55 billion in 2020 and is predicted to increase up to $ 76.89 billion by 2026, with a CAGR of 3.09% during the outlook period.
Corrugated cardboard boxes are made of corrugated cardboard that consists of columns of air in a row, which makes it stronger than the average cardboard because the air acts as a cushion for any item within the box. Corrugated cardboard boxes are generally employed as shipping containers in the food and beverage industry for the delivery of various items due to their properties such as strength, durability, lightness, recyclability, and cost effectiveness.
Worldwide, the market for corrugated cardboard boxes is growing in the food and beverage and e-commerce industries. The escalatingcall for corrugated cardboard boxes in the food industry due to the quality and safety of the packaging elements is a major factor that is supposed to drive the expansion of the global corrugated boxes market during the foreseen period. In addition, the escalatingcall from the packaging industry coupled with the expansion of electronics, logistics and other industries, which in turn increase the call for corrugated boxes. This is another factor that should drive the expansion of the corrugated boxes marketin the coming years. Additionally, the escalating adoption of corrugated cardboard boxes, as they can be recycled and reemployed, is one of the factors likely to drive potential long-term businessexpansion.
Asia-Pacific is estimated to be the fastest growing region in the corrugated boxes marketduring the forecast period. The expansion of the corrugated boxes market in this region is driven by factors such as the expansion of the food and beverage industry, the escalatingcall for packaged products, and economic development.
The worldwide corrugated boxes market has seen tremendous expansion in the packaging industry due to the rapid expansion of the electronics industry, coupled with the boom in the e-commerce industry over the course of the past few years. Today, consumer electronics is the best-selling category due to the increase in the number of electronic models online. The electronics industry is constantly evolving with new developments. Due to the increased penetration of the Internet and mobile devices, there has been an increase in the acceptance of online payments and a favorable demographic, which has given companies in the electronics industry the opportunity to connect with their customers. The burgeoning e-commerce industry, coupled with a growing preference for sustainable packaging solutions, has further increased the call for corrugated boxes market worldwide. The growing need for branded FMCG products and consumer durables in emerging economies such as Asia-Pacific and South America has pushed manufacturers to expand their distribution network, leading to an increased callin the corrugated boxesmarket.
The availability of cheap substitutes and the high cost of raw materials can hamper the call for corrugated boxes and restrict the expansion of the target market during the conjecture period.
The e-commerce business has seen significant expansion in recent years due to technological innovations, which have resulted in a large online customer base for corrugated boxes. Also, the growing segment of applications such as food and beverage, personal care, pharmaceuticals, consumer goods and electronics has played a significant role in the overall expansion of the market. Corrugated cardboard boxes are one of the most popular packaging for small, medium and large products, which has increased the call around the world. The growing call from the e-commerce industry is supposed to create a lucrative opportunity for expansionin the corrugated boxesmarketduring the projection period.
The rigid boxes accounted for the largest market share in 2020, which will continue to dominate through the end of 2026. This is attributed to the widespread call for these boxes in verticals such as the food and beverage, beverage, pharmacy and personal care industries.
By Wall Construction:
The single-walled segment accounted for the largest share in the corrugated boxesmarketin 2020, which is predicted to experience a maximum CAGR during the forecast period.
In 2020, the food and beverage segment had the dominant share in the corrugated boxesmarket, which is also likely to experience the highest expansion rate in the worldwide market. Increased call for processed food products is leading to increased adoption of corrugated boxes. Online food and beverage retailing is also driving the use of corrugated boxes, mainly in emerging economies such as China and India.
The Corrugated Boxes Market Report includes the segmentation of Regions:
Asia-Pacific Corrugated Boxes Market accounted for the largest share in the global corrugated boxes marketof around 52%, which is also predicted to experience the fastest expansion rate during the outlook period. This can be attributed to the boom in the food and pharmaceutical industry in emerging economies such as India, Malaysia, Indonesia and China, which is predicted to contribute to the call for corrugated boxes in the region. Additionally, the steady expansion of the e-commerce industry in the Asia Pacific region offers a potential opportunity for the corrugated boxes market to prosper during the foreseen period.
North America Corrugated Boxes Market has highest market share of the corrugated boxes market and the region is also predicted to maintain its dominance during the foreseen period. The rapid expansion of the e-commerce industry, low cost, escalating consumption of packaged products, and better product protection are the main drivers of the region in the worldwide market. Additionally, the recent acquisition of Kapstone Paper and Westrock Company will enhance market expansion in the United States. Many producers are preparing to increase their manufacturing capabilities due to escalatingcall from various end-use industries. This is supposed to accelerate the expansion of the worldwide corrugated boxes market during the foreseen period.
The Asia Pacific corrugated boxes market represents a significant part of the worldwide market in terms of revenue. The increase in corrugated box applications in the food processing and electronics industries in the countries of the region is supposed to drive the expansion of the market in Asia-Pacific during the prediction period. The Asia-Pacific region will grow at a significant rate in the target market over the next few years, due to the expansion of the textile and home and personal care products industries. China, India and Japan are determined to have a significant share in terms of revenue from the target market during the calculated period.
The global corrugated boxes industry is facing a number of challenges in dealing with the impact of the coronavirus pandemic. Before COVID-19, companies were making rapid progress toward their sustainability goals. However, the coronavirus pandemic has severely affected many companies around the world, mainly the packaging industry. Packaging companies offered innovative technologies that were environmentally friendly, reusable, and biodegradable. But concerns about the health and safety of reusable packaging have temporarily halted the packaging industry's progress toward a sustainable circular supply chain. Specific areas of the packaging industry that have been affected include: the rise of digital printing, consumer preferences, e-commerce, new or growing concerns about consumer health and safety, redefining the sustainability and the increase in the single use of plastics and the lifting of bans. In the wake of the pandemic, packaging companies will need to rebalance sustainability goals that incorporate better hygiene, standardize e-commerce, and factor in the cost of products.
The corrugated boxes ecosystem comprises companies such as
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Corrugated Boxes Market, By Type
6.1.1 Rigid Boxes
6.1.2 Self-Erecting Boxes
6.1.3 Telescope Boxes
6.1.4 Slotted Boxes
6.1.5 Market Size Estimations & Forecasts (2021-2026)
6.1.6 Y-o-Y Growth Rate Analysis
6.1.7 Market Attractiveness Index
6.2 Corrugated Boxes Market, By Application
6.2.1 Food & Beverages
6.2.2 Electronic Goods
6.2.4 Personal Care
6.2.5 Market Size Estimations & Forecasts (2021-2026)
6.2.6 Y-o-Y Growth Rate Analysis
6.2.7 Market Attractiveness Index
6.3 Corrugated Boxes Market, By Wall Construction
6.3.4 Market Size Estimations & Forecasts (2021-2026)
6.3.5 Y-o-Y Growth Rate Analysis
6.3.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Type
7.2.3 By Application
7.2.4 By Wall Construction
7.3.1 By Country
18.104.22.168 Rest of Europe
7.3.2 By Type
7.3.3 By Application
7.3.4 By Wall Construction
7.4 Asia Pacific
7.4.1 By Country
22.214.171.124 South Korea
126.96.36.199 South East Asia
188.8.131.52 Australia & NZ
184.108.40.206 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Application
7.4.4 By Wall Construction
7.5 Latin America
7.5.1 By Country
220.127.116.11 Rest of Latin America
7.5.2 By Type
7.5.3 By Application
7.5.4 By Wall Construction
7.6 Middle East and Africa
7.6.1 By Country
18.104.22.168 Middle East
7.6.2 By Type
7.6.3 By Application
7.6.4 By Wall Construction
8. Key Player Analysis
8.1 Mondi Group Plc
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Cascades Inc
8.3 Packaging Corporation of America
8.4 Georgia-Pacific LLC
8.5 International Paper Company
8.6 WestRock Company
8.7 DS Smith Plc
8.8 Smurfit Kappa Group
8.9 Rengo Co. Ltd
8.10 KapStone Paper and Packaging Corporation
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures