Corrugated Boxes Market : Current Trends and Opportunities

Posted by Kishor on March 1st, 2019

The global corrugated boxes market has several players enjoying prominence in the market. The need to sustain their stronghold and at the same time expand their businesses, companies are adopting unique strategies. For instance, many players are introducing innovative products to attract the interest of consumers. Further, they are also launching new manufacturing units in upcoming geographies to meet the demand.

The global corrugated boxes market has been growing at a substantial rate and was valued at US$ 96.60 bn in 2017. The several growth factors are projected to propel the market’s growth at 3.60% CAGR between 2017 and 2022.  The global corrugate boxes market is foretold to stand at US$ 115.15 bn by the end of 2022.

Many established players are acquiring regional players with unique product line to carve a niche for themselves in the global corrugated boxes market. Some of the prominent players of the global corrugated boxes market include International Paper Co., Pratt Industries, KapStone Paper, DS Smith Plc., and WestRock Co.

Geographically, Asia Pacific is expected to grow at a steady rate in the future. The growing population, increasing per capita income, and rising migration to urban areas are fueling demand here. The region is predicted to expand at 4.10% CAGR in the forecast period. Materials-wise, recycled fibers are expected to hold the highest share in the coming years. The thrust from government on using green materials will fuel demand in the global corrugated boxes market.

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Thriving E Commerce Sector to Support Growth in Market

With the penetration of internet, the access to information and ability to procure products has become easy. As a result, the e-commerce space has gained impetus in the past decade, and has registered a phenomenal growth. A large volume of products are sold online today. This calls for an increasing the use of materials needed for packaging and transporting. Corrugated boxes are the ideal material for packing products as they are safe and recyclable, thus fueling demand in the global corrugated boxes market.

At the same time, the demand for boxes in several sizes and shapes, and different grades will open new doors for players in the global corrugated boxes market. They are used for packing several electronic goods, moving goods from city to another, in packing glass utensils, and other products. All these factors are predicted to favor growth in the global corrugated boxes market.

Rising Prices Worry Manufacturers in the Global Corrugated Boxes Market

One of the major drawbacks of corrugated boxes is their high manufacturing price. This makes several consumers rethink about utilizing the product for packing their goods. This is expected to create doubts about the usage of the product, thus hampering growth in the global corrugated boxes market.

However, research is underway to discover new material that can help manufacturers reduce production cost, thus helping them gain momentum in the global corrugated boxes market. Many players are hoping to see new material in the future to help them grow further in the global corrugated boxes market.