New market research study provides an analysis and evaluation of the current and prospective profitability, liquidity and financial stability of Global Corrugated Packaging Industry.
Corrugated packaging is prepared from a combination of liner and flutes sheets of paper. Corrugated boxes protects the products owing to cushioning qualities, bursting strength, rigidity, puncture resistance, and edge crush resistance enabling to bear impact during movement and transportation. Increasing growth of processed food with the growing consumer demand
Corrugated packaging offers cleanliness and lightweight, lowering shipping costs, less fuel and lower emissions. The production cost of corrugated boxes is quite low, as the raw materials required for production are available in large quantity and inexpensive. The packaging is also used with printing techniques such as digital, screen, and lithographic printing and the companies can print product information, brand promotion, logos, and contact address. The packaging also offers various sizes, colors, and design suitable for a variety of products. Moreover, corrugated boxes are ecofriendly and can be reused and recycled. Growing consumer health awareness coupled with preference for packed food has been expected to impact the market in a positive way. Changing lifestyle and online business is further predicted to propel the industry demand.
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Corrugated packaging combines structural rigidity with cushioning qualities to protect heavy or fragile contents from damage. Growing awareness regarding environmental concerns positively impacts the demand in the global market. Demand for environment-friendly materials and easily recyclable products are also rapidly acquiring the market . Further, growing application in the packaging of delicate products has been anticipated to boost the market over the forecast period. Furthermore, increasing trend of organized retailing has also contributed significantly for growing demand for corrugated packaging growth. However, stringent government regulations against contamination of landfills have been estimated to restrict the growth over the forecast period.
Global corrugated packaging market has been segmented on the basis of corrugated box type and applications. On the basis of box type, the market has been segregated into rigid box, slotted box, folder box and others. Other box includes telescope boxes and self-erecting boxes. In box type segment, folding boxes and rigid boxes are majorly used by e-commerce and retail sectors.
Based on application, the corrugated packaging market includes food and beverage industry, automotive, electronics, health & hygiene, pharmaceuticals, glassware & ceramics, chemicals, paper products, textile goods and other consumer goods. Corrugated packaging is widely utilized for perishable or liquid products such as fruits and vegetables, liquid bottles (juice bottles, water bottles), processed food including readymade pizzas, soups, and others confectionary and bakery products. Corrugated packaging also has varied application in electronic and automotive markets for delicate components. Furthermore, pharmaceutical and health & hygiene sector also utilizes the packaging for storing and shipping cosmetics, medicines, and other consumer goods.
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Geographically, E-commerce has acted as a major boosting sector for corrugated packaging market growth in Europe. The region is expected to acquire major share in the industry owing to the changing consumer lifestyle and increasing demand for convenience among the consumers. . North America region is also anticipated to witness a steady growth owing to the prominence of retail sector and e-commerce business. Steady growth in food and beverage industry and e-commerce business particularly in Asia Pacific region projected to have a potential opportunity for the corrugated packaging market over the forecast period. China is also increasing paper recycling rate coupled with governments support to supply corrugated packaging material in order to reduce the accumulation of waste products is anticipated to foster the market in the region. Moreover, other emerging nations are struggling to lower the carbon footprints also expected to contribute the industry growth.
Major players in the corrugated packaging market include Smurfit Kappa Group Plc., DS Smith Plc, Holmen AB, MeadWestvaco Corporation, Mayr-Melnhof Karton AG, Georgia-Pacific LLC, Nine Dragons Paper (Holdings) Ltd., Newark Group, Bio Pappel S.A.B. de C.V., OJI Holding Corporation, International Paper Company, Mondi Plc, Weyerhaeuser Company, Lee & Man Paper Manufacturing Ltd., Svenska Cellulosa Aktiebolaget, Vinda International Holdings Ltd., Sonoco Products Company, Amcor Ltd., Stora Enso Oyj, and Nippon Paper Industries Co. Ltd.
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