Corrugated and paperboard boxes are crimped layers of cardboard, also known as fluting and is crammed amidst the two thin outer layers. Corrugated boxes are available in numerous shapes and sizes, and are broadly utilized in the packaging of various commodities such as hazardous chemicals, cosmetics, foods, beverages, pharmaceuticals, and other materials. These boxes are the favored means of packaging as they possess high strength, high durability, appealing aesthetic value, light-weightiness, recyclability, and cost-effectiveness.
The corrugated and paperboard boxes market has experienced a humongous growth over the past years, and as per the prediction, the global corrugated and paperboard boxes market is likely to grow at a rapid pace over the forecast period. The rising population and growing per capita income are the major growth driver for the corrugated and paperboard boxes market. Along with this, the growing applications segment such as food & beverages, personal care, Pharmaceuticals & healthcare, consumer goods, electronic goods has subsidized a key role in the overall market evolution. Corrugated and paperboard boxes are one of the most favored packagings for small, medium and large sized products, which, in turn, has augmented the demand across the globe. Growing e-commerce industry has developed on the major trend of packaging through corrugated and paperboard boxes at various packaging stages in the e-commerce industry is creating a lucrative market for the corrugated and paperboard boxes. Ban on the plastic packaging has favoured the demand for corrugated and paperboard boxes in the packaging industry across the globe.
Rapid growth in the electronics sector is eventually propelling the demand for the corrugated and paperboard boxes. Today, consumer electronics is the top retailing category owing to an upsurge in the number of online electronics models. The electronics sector is budding with new expansions due to the increaseing penentration of internet and mobile. There has been growth in the acceptance of online payments and constructive demographics, which has given the companies in the electronics sector, an occasion to connect with their customers. This, in turn, increased the demand for parcel packaging with corrugated and paperboard boxes. According to REED Electronic Research, a leading market information provider to the global electronics industry, China accounted for 38% of electronics equipment production in the global market, in 2015.
Global corrugated and paperboard boxes market is segmented based on material, product, application, and region. Based on the material, the market is segmented into paperboard, adhesives, inks, waxes, and others. Among these, the paperboard is projected to dominate the corrugated and paperboard boxes market till 2023 owing to the rising implementation of paperboard packaging across all the end use applications. Based on the product, the market is segmented into corrugated & solid fiber boxes, set-up paperboard boxes, folding paperboard boxes, and others. The corrugated & solid fiber boxes dominated the market in 2016 and are projected to be the fastest-growing product over the review period. A wide applications of corrugated & solid fiber boxes across all the major goods packaging with its high benefits for distance transportation make them an ideal product for packaging. Based on the application, the market is segmented into durable goods, food & beverages, paper & publishing, chemicals, and others. The durable goods segment dominated the market in 2016 and is projected to be the fastest-growing application over the next five years, as a result of the rise in the global sale of electronic goods, home appliances, and other electronic goods, which has resulted into the market evolution of durable goods.
The corrugated and paperboard boxes market is expected to have a number of new entrants over the forecast period owing to incessant extensions in the packaging industry coupled with rising consumer preferences for high strength and hygiene features. The market is also expected to have a high expansion activities by multinationals and well-established companies. Mergers and acquisition activities are projected to be observed over the forecast period.
The global corrugated and paperboard boxes market is expected to grow at a CAGR of about 4% during the forecast period 2017-2023.
Global Corrugated and Paperboard Boxes Market
Global corrugated and paperboard boxes market is spanned across North America, Europe, Asia Pacific and Rest of the World. Asia Pacific dominated the global corrugated and paperboard boxes market in 2016 and is anticipated to witness a phenomenal growth over the forecast period. The region is expected to showcase a rapid growth in the e-commerce and food & beverages sectors leading to the fast growth in demand for corrugated and paperboard boxes. North America also holds an impressive share of the global corrugated and paperboard boxes market owing to the growing food & beverages and electronic industry. Europe is expected to witness a steady growth over the forecast period owing to the rise of substitute packaging methods in many European economies.
Some of The key players in the global corrugated and paperboard boxes market are Mondi Group t(Austria), Georgia-Pacific Corporation (U.S.), International Paper Company (U.S.), Smurfit Kappa Group (Ireland), Graphic Packaging International, Inc. (U.S.), Cascades Inc. (Canada), DS Smith Plc (U.K.), Klabin S.A.(Brazil), Oji Holding Corporation (Japan), Nine Dragons Paper(Holding) Limited (China), Packaging Corporation of America (U.S.), Nippon Paper Industries Co. Ltd (Japan), Orora Packaging Australia Pty Ltd (Australia), Rengo Co., Ltd. (Japan), and WestRock (U.S.)
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