This report, titled "Corrugated Box Packaging Market: Growth, Future Prospects, and Competitive Analysis, 2016–2024," offers strategic insights into the trends in the corrugated box packaging market along with the market size and forecast for the duration of 2013–2024. The said research study incorporates an in-depth analysis of multiple market segments based on application and geographical distribution.
Nowadays, the packaging of a particular product is a key component in the overall product life cycle. The growing consumer preference for lightweight and convenient packaging is driving demand for advanced packaging solutions, which can be mitigated by tapping the organized retail sector.
Corrugated packaging material is made from recycled cardboard boxes, which are eco-friendly, resulting in significant adoption of corrugated box packaging among both food and non-food manufacturers across the globe. Basically, paperboard that is utilized for the manufacturing of corrugated box packaging is defined as "containerboard." The corrugated box packaging market finds profound application for processed foods, fresh food and food products, beverages, personal and household care, chemicals, paper products, electrical goods, glassware and ceramics, wood and timber products, textiles, tobacco, transport, and others.
Based on application, the global corrugated box packaging market is segmented into food & beverage, automotive, electronics, health & hygiene, pharmaceuticals, and other consumer goods. This report presents the market size and forecast for all segments considered for the period 2013-2024 (US$ Mn), as well as their respective CAGRs for the forecast period 2016-2024 (value%).
In terms of geographical distribution, the global corrugated box packaging market is studied for five major regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Market size and forecasts for each regional and country-level market are included in the report for the considered periods.
Along with the quantitative information sets, this report also provides qualitative information, such as market dynamics and an executive summary, for the global corrugated box packaging market. The report also includes tools to help readers with competitive mappings, such as competition assessment and appealing investment propositions. This study concludes with a company profile section. This section includes major information about the key companies engaged in the corrugated box packaging market.
Based on application, the global corrugated box packaging market is segmented as follows:
Food & Beverage
Automotive
Electronics
Health and Hygiene
Pharmaceuticals
Other Consumer Goods
Corrugated boxes are found in different combinations and styles and are thus used in both food and non-food applications. Among the aforementioned applications undertaken in the study, the food and beverage segment held the largest market share in 2015. Demand for efficient packaging solutions in food and beverage products is a key factor driving the corrugated box packaging market's growth. By 2024, food and beverages are anticipated to remain dominant in terms of revenue contribution, followed by electronics and other consumer goods segments.
The electronics segment is anticipated to record the highest CAGR during the forecast period. Online shopping has gained momentum among consumers across the globe, which is a key factor fueling the demand for corrugated box packaging in the electronics segment. Furthermore, the global adoption of online shopping has resulted in the development of sustainable and convenient packaging that ensures product safety during transportation, ease of handling, and cost savings. Other consumer goods segments are expected to witness significant growth, especially in the Asia Pacific region, during the forecast period. Since the food and beverage industry and consumer goods are major contributors to the overall economy in the Asia Pacific region, the corrugated box packaging market is expected to grow significantly in the next five to six years.
For the purpose of this study, the global corrugated box packaging market is categorized into three segments:
North America
U.S.
Canada
Europe
Germany
France
Italy
U.K.
Russia
Rest of Europe
Asia Pacific
India
China
Japan
Rest of Asia Pacific
Latin America
Brazil
Mexico
rest of Latin America
Middle East and Africa
GCC Countries
South Africa
Rest of the Middle East and Africa
In 2015, North America was the leading market, followed by Asia Pacific and Europe. Asia Pacific and Europe collectively accounted for more than 50% of the market in terms of value. Corrugated box packaging market growth in Europe and North America is primarily driven by the demand for sustainable packaging among end-use industries coupled with new product launches catering to the increasing demand for corrugated box packaging, especially among electronics and consumer goods manufacturers.
However, growth is projected to be fastest in the Asia Pacific region during the forecast period of 2016 to 2024. Urbanization, a growing and aging population, the nuclear family concept, government intervention for the development of eco-friendly products, and other factors are driving the growth of the Asia Pacific corrugated box packaging market. The market for corrugated box packaging in Latin America is anticipated to record significant growth, followed by the Middle East and Africa.
Frequently Asked Questions:
The market for Corrugated Box Packaging Market is expected to reach US$ 210.9 Bn By 2024.
The Corrugated Box Packaging Market is expected to see significant CAGR growth over the coming years, at 4.6%
The report is forecasted from 2016-2024.
The base year of this report is 2015.
Georgia-Pacific Equity Holdings LLC, Lee & Man Paper Manufacturing Ltd. Oji Holdings Corporation, Rock-Tenn Company are some of the major players in the global market.
