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 represent one of the most preferred means of packaging across the world. They 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. Corrugated boxes are available in various shapes, sizes and designs. Owing to these properties, they are extensively used in the packaging of various goods such as foods, beverages, cosmetics, pharmaceuticals, hazardous chemicals and other materials.
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.
The global corrugated boxes market is driven by the rise of the e-commerce industry which is being fuelled by hassle-free delivery, free shipping options, easy return policies and convenience. Additionally, rapid urbanization in the developing countries like India and China, and rising disposable income resulting in increased purchasing power are considered to be the other growth drivers for the market. The increase in population in these countries has also increased the demand for consumer goods which, in turn, has fuelled the corrugated boxes market. Growth of the end-use industries such as the food and beverage industry, which has grown exponentially in the last few years, has led to a rise in demand for the corrugated boxes. Owing to the aforementioned factors, the market is further projected to reach a value of US$ 200 Billion by 2022.
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The market has been segmented on the basis of end-use. Currently, food products and beverage represent the largest end-use segment, accounting for around two-fifths of the total market share. It is followed by 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 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 & Mann Group and Smurfit Kappa Group are the key players.
The report by IMARC Group has examined the global corrugated boxes market on the basis of:
- Food Products and Beverages
- Paper Products
- Electrical and Electronic Goods
- Personal and Household Care Goods
- Glassware and Ceramics
- Textile Goods
- Virgin Corrugates
- Recycled Corrugates
- Latin America
- Middle East and Africa
- North America
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