Corrugated Boxes Market Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022
Over the past few years, the global corrugated boxes market has witnessed a healthy growth. This can be accredited to its diverse applications in various sectors such as e-commerce, textiles, food and beverages, automotive, etc.
The latest report by IMARC Group titled, “Corrugated Boxes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global corrugated boxes market reached a value of US$ 161 Billion in 2016, exhibiting a CAGR of around 5% during 2009-2016. Corrugated boxes are made by pasting two layers of flat papers (liners) with a wavy layer of cardboard (flute) in between. The wavy layer protects the content of the box by providing insulation and strength. Unlike plastic crates, corrugated boxes provide rigidity, flexibility, durability and cost-effectiveness. Moreover, they are crush-resistant and thereby, withstand top and side pressure. Since, corrugated boxes are solely made of paper, they are eco-friendly and bio-degradable.
Highlights of the global corrugated boxes market:
Expanding e-commerce industry is the primary factor driving the global corrugated boxes market.
Food products and beverages represent the largest end-use segment.
Asia-Pacific is the largest market, accounting for around half of the total share.
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Corrugated boxes are used extensively in various industries ranging from textiles and e-commerce to household and electronic goods. An increase in online shopping trends, characterized by hassle-free delivery, free shipping options, easy return policies and convenience, has fueled the e-commerce industry. This, in turn, has facilitated the demand for corrugated boxes across the globe. In order to increase their consumer-base, manufacturers have also come up with product-specific packaging options in varied shapes, sizes and colours. Apart from this, growing population and rapid urbanization have further added to the market growth. According to the report, the market is further projected to reach value of US$ 200 Billion.
The market has been segmented on the basis of end-use. Currently, food products and beverage represents the largest end-use segment, accounting for around two-fifths of the total market share. It is followed by segments such as electronic goods, household care goods, paper products, chemicals, glassware and textile goods. The major types of materials used for corrugated boxes are virgin corrugates and recycled corrugates. Being cost-effective, environment-friendly and convenient, recycled corrugates have an increased adoption rate, as compared to virgin corrugates. Region-wise, Asia-Pacific holds around a half of the total market due to a growth in the demand for FMCG products like toiletries, food and beverages, OTC drugs, etc. It is followed by other regions like Europe, North America, Latin America, and Middle East and Africa. On evaluating the competitive landscape of the market, it is found that Nine Dragons Paper, West Rock, International Paper, Lee & Man Group and Smurfit Kappa Group are the key players.
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The report by IMARC Group has examined the global corrugated boxes market on the basis of:
Food Products and Beverages
Electrical and Electronic Goods
Personal and Household Care Goods
Nine Dragons Paper
Lee & Mann Group
Smurfit Kappa Group
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