IMARC Group, a leading market research company, has recently released a report titled “Corrugated Boxes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global corrugated boxes market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What Are The Growth Prospects Of The Corrugated Boxes Industry?
According to the report, The global corrugated boxes market size reached US$ 198.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 229.9 Billion by 2028, exhibiting a growth rate (CAGR) of 2.38% during 2023-2028.
What is Corrugated Boxes?
Corrugated boxes are a type of packaging material that is manufactured by assembling layers of corrugated cardboard sheets. In comparison to cardboard boxes, these boxes are lightweight, crush resistant, highly durable, and flexible, as the air trapped between the layers creates a cushion effect. Moreover, corrugated boxes can withstand pressure and offer convenience to users while handling. Several manufacturers in different verticals have shifted from plastics-based packaging materials to biodegradable materials like corrugated boxes over the past few decades.
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What are the growth prospects and trends in the corrugated boxes industry?
Rapid digitization, inflating disposable incomes, and hectic lifestyles have provided a thrust to online shopping, which, in turn, has increased the demand for corrugated boxes in different shapes and sizes. Besides this, numerous food outlets, like cafes and restaurants, are also adopting corrugated boxes for delivery purposes on account of the growing environmental concerns. They are also integrating innovative printing methods like photorealistic image printing in order to create attractive packaging. Furthermore, key players are investing in research and development (RD) activities to enhance the performance of corrugated boxes and increase their applications across various verticals.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Material Used:
- Recycled Corrugates
- Virgin Corrugates
Breakup by End Use:
- Food Products and Beverages
- Paper Products
- Electrical and Electronic Goods
- Personal Care and Household Goods
- Chemicals
- Glassware and Ceramics
- Textile Goods
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- International Paper Company
- Nine Dragons Worldwide (China) Investment Group Co., Ltd.
- WestRock Company
- Smurfit Kappa Group plc
- Lee and Man Paper Manufacturing Ltd.
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