The global corrugated boxes market reached a value of US$ 176.1 Billion in 2018, registering a CAGR of 4.7% during 2011-2018. Corrugated boxes are made by assembling three layers of corrugated cardboard sheets. These sheets assist in trapping air between them which acts as a cushion for protecting the contents of the box. In comparison with other forms of packaging, corrugated boxes offer numerous advantageous properties which include strength, lightweight, flexibility, high durability and aesthetic value. Additionally, these boxes are environment-friendly in nature as they are manufactured without the use of any harmful chemicals and can be easily recycled.
Corrugated boxes are widely utilized in the packaging of food and beverages, chemicals, glassware and ceramics, paper, electronics, textiles, personal care and household products. The growth in these end use industries has propelled the demand for corrugated boxes worldwide. Moreover, the e-commerce industry is experiencing strong growth on account of the convenience offered by online shopping such as free shipping options, and hassle-free delivery and return policies. As online retailers use product-specific corrugated boxes to keep items safe from mechanical stress, it is positively influencing the market growth. Apart from this, in order to launch improved corrugated boxes, manufacturers are investing in research and development activities. They are also coming up with customized packaging to widen their consumer base. According to IMARC Group, the market is projected to reach a value of US$ 206.2 Billion by 2024.
Breakup by Material Used:
Currently, recycled corrugates account for the majority of the total market share. This can be accredited to their extensive usage in the packaging of lightweight products like cosmetics, consumer electronics and fast-food items.
Breakup by End Use:
The report finds that food products and beverages currently represent the largest end use segment of corrugated boxes. This can be attributed to the advantages offered by these boxes which include lightweight, structural rigidity and cushioning effect.
On the geographical front, Asia Pacific enjoys the leading position in the global corrugated boxes industry on account of a large consumer base and rapid economic development in countries such as China and India.
The market is fragmented in nature with the presence of several small and large manufacturers who compete against one another in terms of prices and quality. Some of the key players operating in the market are:
Key Questions Answered in This Report:
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