Corrugated Box Market Current Scenario and Future Prospects
Published Via 11Press : A vital part of the packaging for products including medicines, FMCG, food, automobiles, and electrical appliances is corrugated boxes, often known as carton boxes. Industry leaders see packaging as a crucial component in the creation of a memorable shopping experience that users will want to share via social media, which can drive marketing, encourage repeat business, and attract new customers. Brand owners are recognizing the opportunities presented by these technological advancements to increase dwindling brand loyalty through greater customer engagement. During the projection period, the corrugated box industry is anticipated to grow at a CAGR of double digits.
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| Attributes | Details |
| Study Period | 2028 |
| Base Year | 2022 |
| Largest Market | Asia Pacific |
| Unit | Value (USD M) |
| Key Companies Profiled | International Paper (US), Smurfit Kappa (Ireland), Amcor plc (AU), Dunapack packaging (Turkey), Mondi Group (United Kingdom), Stora Enso (Finland), SCA (Sweden), Rengo Co., Ltd. (Japan), WestRock Company (US), Tetra Pak (Switzerland) |
| CAGR | 3.8% |
The report offers Major leading Key players:
- International Paper
- Amcor
- WestRock Company
- Mondi Group
- Smurfit Kappa
- Stora Enso
- Rengo
- Tetra Pak
- Dunapack packaging
By Application:
- Beverage Manufacturing
- Wholesale Trade
- Agriculture
- Forestry
- Retail Trade
- Food Manufacturing
- Chemical Manufacturing
- Fishing & Hunting
- Paper Manufacturing
- E-commerce
- Plastics & Rubber Products Manufacturing
- Others
By Type:
- Slotted Boxes (Regular Slotted Containers)
- Half Slotted Container
- Others
Market Overview:
- Mondi plc paid the Burgo Group a total of Euro 40 million on January 12, 2023, to purchase the Duino mill in Trieste (Italy). Leader in packaging and paper, Mondi strives to make the world a better place by developing cutting-edge, ecologically friendly solutions.
- The business is integrated throughout the entire value chain, beginning with the management of forests and the production of pulp, paper, and films and concluding with the development and production of sustainable consumer and industrial packaging solutions that use paper whenever possible and plastic when necessary.
- The bold goals for 2030 are concentrated on circularly driven solutions created by individuals with the potential to combat climate change, and sustainability is the cornerstone of our strategy. As corrugated box producers prepare to fulfill the new demands for highly precise boxes with beautiful graphics and substantial integrated production capacity, inline automation plant setups are increasing.
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Influencing Trend:
- Reverse bidding, First Pak, and other developments in e-commerce provide large-scale units a competitive advantage, rendering the idea of locating corrugated box manufacturing close to customer locations outdated.
- Large businesses and others who purchase corrugated boxes in bulk are searching for a single source or a number of different suppliers that can meet their stringent standards while offering various designs and just-in-time delivery at the lowest price.
Market Growth Drivers:
- Customers emphasize online shopping to propel market expansion globally. For instance, about 45% of shoppers in Central and Eastern Europe choose online shopping as a result of the COVID-19 epidemic.
- Studies and surveys suggest that new internet users will probably continue to make purchases online. In Central and Eastern Europe, about 80% of people value utilizing sustainable practices and ecologically friendly materials in the corrugated boxes that are used for packing. 77% of consumers who purchase online use eco-friendly corrugated packing techniques.
- For corrugated packaging alternatives that may be customized and are ecologically beneficial, 57% of customers are ready to pay more. The COVID-19 outbreak has benefited the internet market. People are becoming more and more vocal about the need for adopting sustainable products. This factor is causing the market to grow.
Challenges:
- Sharp rises in commodity costs and interruptions in the supply of raw materials can have a negative impact on the corrugated box industry. The acute scarcity and an unprecedented price hike have brought manufacturers to the brink of bankruptcy.
- The sector of corrugated packaging has determined the reason for this price hike. The price of coal, the main energy source for paper mills, has increased. The price of producing paper at mills has increased as a result.
- The market expansion is constrained by the acute raw material constraint faced by corrugated box producers, a crucial eco-friendly packaging material.
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Key findings of the global corrugated box market study include:
- Market CAGR from 2022 to 2028
- Detailed information on the market-expanding growth factors for corrugated boxes in the upcoming several years.
- Extensive Information on Corrugated Box Future Trends and Shifting Consumer Behaviour
- A projection of the size of the global corrugated box market and its share of the parent market by application, type, and nation.
- A thorough understanding of client demand in the corrugated box industry
- An understanding of the market’s competitive surroundings and in-depth data on individual companies
- Detailed information on the variables that would hinder the expansion of Corrugated Box players
Business Transformation and Important Triggers:
Due to the convergence of several key factors, such as:
- Significant changes in the technology and cost structure of the corrugated box industry
- A turning point in globalization
- The look of new forms of competition in the corrugated box industry
- The difficulty posed by regulatory compliance in the corrugated box market
- A significant slowdown in a developed economy
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Content has been published via 11press. for more details please contact at [email protected]
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