The "Corrugated Boxes Market Research Report: By Flute Type, Board Style, Box Style, End Use - Global Industry Analysis and Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global corrugated boxes market is predicted to attain a revenue of $284.6 billion by 2030, rising from $180.9 billion in 2019, progressing at a 4.3% CAGR during the forecast period (2020-2030), according to the report.
The key factors contributing to the growth of the market are the increasing demand for convenient and lightweight packaging solutions in a number of industries and the swift expansion of the offline retail and e-commerce industries across the globe.
When box style is considered, the market is divided into rigid, telescope, slotted, and folder, out of which, the slotted division is expected to account for the major share of the market during the forecast period. Slotted boxes are made up of one-piece corrugated boards, which are flexible and therefore facilitate easy foldability. They consist of separators/dividers, which aid in organizing assorted products in the box, so that there is minimum product movement. Due to this, slotted boxes are utilized for shipping fragile products.
In the corrugated boxes market, the Asia-Pacific region is expected to grow at the fastest pace during the forecast, owing to the increasing focus on sustainable packaging, growing environmental awareness, expanding e-commerce activities, and rising requirement for electronic goods and personal care products. Furthermore, the growing government initiatives for supporting environmentally sustainable developments and the easy availability of raw materials are resulting in the growing utilization of corrugated boards for both secondary and primary packaging applications.
In fact, the rising focus on sustainable packaging and product recycling is a major trend being observed in the corrugated boxes market. The disposal of corrugated boxes was leading to increased accumulation of waste in landfills, thereby causing harm to the environment. Now, however, manufacturers are utilizing innovative technologies for compaction and shredding, which aid in recycling of corrugated boxes. The fiber produced during the recycling of corrugated materials can be used for producing new corrugated boards, thereby leading to reduction in waste generation.
Growing focus of market players on product recycling and sustainable packaging
Growth in the packaging industry
Increased use of corrugated boxes by online retailers
Impact analysis of drivers on market forecast
Low strength and poor barrier properties
Impact analysis of restraints on market forecast
International Paper Company
Smurfit Kappa Group
Packaging Corporation of America
Nine Dragons Paper (Holdings) Limited
Oji Holdings Corporation
DS Smith Plc
Stora Enso Oyj
VPK Packaging Group NV
Wertheimer Box Corporation
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View source version on businesswire.com: https://www.businesswire.com/news/home/20201126005734/en/
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