Global Corrugated Packaging Market: Overview
Corrugated packaging products combine cushioning with structural rigidity, providing excellent protection to fragile or heavy contents from damage. Their lightweight and clean nature help lower shipping costs. The high-impact graphics possible on corrugated packaging products help enable improved brand awareness, thus helping improved sales. Moreover, corrugated packaging products are made from recycled card board boxes and other waste products from the paper industry. The reprocessing and recycling percentage of corrugated packaging products is also high, making them an environment-friendly packaging option.
The market is expected to witness an excellent upward growth trajectory over the period between 2018 and 2026, chiefly owing to the massive rise in demand for corrugated packaging boxes in the thriving global e-commerce industry. This report gives a forward-looking perspective of the market, and furnishes qualitative as well as quantitative data pertaining to the key segments of the market.
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Global Corrugated Packaging Market: Trends and Opportunities
As mentioned above, the thriving global e-commerce industry is expected to emerge as the leading growth driver for the global corrugated packaging market. Owing to features such as low weight, excellent strength, and recyclability, e-commerce companies are increasingly adopting corrugated packaging products for safe product delivery. Moreover, the market has also witnessed a steady rise in adoption from the organized retail sector in the recent past. As the numbers of supermarkets and hypermarkets rise across emerging economies in regions such as Asia Pacific and Latin America, in response to changing consumer lifestyles and rising disposable incomes, the uptake of corrugated packaging products is also expected to surge.
On the flip side, there are a certain factors that hinder the growth prospects of the market to a certain degree, chief ones being the unsuitability of corrugated material for the packaging of a variety of products and concerns regarding the durability of corrugated packaging products. It is often noted that conventional corrugated packaging products do not withstand harsh indoor and outdoor weather conditions as efficiently as other packaging products, thus posing damage dangers to fragile products or electronic products.
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Global Corrugated Packaging Market: Market Segmentation
The report segments the global corrugated packaging market on the basis of criteria such as box type, application, and geography. Based on application, the market has been covered for industries such as food and beverages, automotive, health and hygiene, electronics, consumer goods, and pharmaceuticals.
Based on the type of box, the market has been covered for varieties such as folding box, slotted box, telescope box, and rigid box. Of these, varieties such as folding and rigid boxes witness high demand across the retail and e-commerce sectors. Thus in parallel to the exponential growth being witnessed by the e-commerce sector globally, these segments are also expected to perform excellently over the forecast period.
Global Corrugated Packaging Market: Regional Outlook
From a geographical standpoint, the report covers the market for corrugated packaging across regions such as Latin America, Europe, Asia Pacific, North America, and Middle East and Africa. Presently, North America and Asia Pacific are the leading regional markets for corrugated packaging products. While the market in North America will witness steady expansion over the report’s forecast period as well, the market in Asia Pacific is expected to witness a massive surge owing to rising growth opportunities in the region’s thriving e-commerce industry and a rapidly expanding organized retail sector. The market in Middle East and Africa is also expected to expand at a promising rate over the forecast period.
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Global Corrugated Packaging Market: Market Players
Some of the leading companies operating in the global corrugated packaging market are DS Smith, U.S Corrugated Inc., Mondi Group, Georgia- Pacific, and Smurfit Kappa Group.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
- What can be the best investment choices for venturing into new product and service lines?
- What value propositions should businesses aim at while making new research and development funding?
- Which regulations will be most helpful for stakeholders to boost their supply chain network?
- Which regions might see the demand maturing in certain segments in near future?
- What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
- Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
- Which government regulations might challenge the status of key regional markets?
- How will the emerging political and economic scenario affect opportunities in key growth areas?
- What are some of the value-grab opportunities in various segments?
- What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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