Corrugated Packaging Market – Key Findings
- North America dominate the global corrugated packaging market with a share of 33.4% in 2016, in terms of value. It is expected to grow at a CAGR of 5.69% during the forecast period.
- Asia-Pacific is the fastest growing region with a CAGR of 6.39% owing to the emerging economies coupled with lucrative opportunities in packaging industry and growing ecommerce industry.
- Rigid boxes segment expected to witness growth in global corrugated packaging market with share of 29.50% in 2016, in terms of value. It is expected to grow at 6.04% CAGR during the forecast period.
The report for Global Corrugated Packaging Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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Market Synopsis of Global Corrugated Packaging Market
The global corrugated packaging market has experienced a humongous growth over the past years and as per the estimation the global corrugated packaging market will grow more on a rapid pace during the forecast period. The rising population and growing per capita income are the major growth driver for this market. Along with this the growing applications segment such as food & beverages, personal care, Pharmaceuticals & healthcare, consumer goods, electronic goods have contributed a major role in the overall market growth. Corrugated Packaging is one of the most preferred packaging for small, medium and large sized products which in turn has increased the demand across the globe. Growing ecommerce industry has become on the major trend in the global corrugated packaging market. Banning of plastic packaging has also become the major reason for the rising demand of corrugated packaging market.
Global corrugated packaging has very broad market in coming recent years. MRFR analysts has predicted that food & beverages and consumer goods industry are about to grow at a rapid pace, moreover, the speedy rising ecommerce business has also been a growth momentum which means more demand for these industries and in turn for corrugated packaging.
Archis Packaging India Pvt. Ltd., Mondi Group (US), Smurfit Kappa Group (Ireland) , International Paper Company (Tennessee), Orora Packaging Australia Pty Ltd (Australia), WestRock (US), Georgia-Pacific LLC (Atlanta), KapStone Paper, Europac Group (U.K.), Packaging Corporation (US) and Nefab Group (Sweden) are some of the leading players of the Global Corrugated Packaging Market. Profiling them in its analysis, MRFR explores strategies that keep them at the forefront of competition.
Industry/ Innovation /Related News:
March 23, 2018 – Electronics For Imaging (US) a leading global provider for digital printing technology showcased its new technologies for corrugated packaging at 2018 iCorrugated Asia Expo, being held between 21 March and 23 in China. Showcased technologies included C18000 Single-Pass, Escada Corrugator Control; Direct-To-Corrugated LED inkjet corrugated packaging press and Closed-Loop Process Control Software Technologies.
March 20, 2018 – ExxonMobil (Germany) launched its new synthetic lubricant – Mobil SHC™ Grease 462 PF for corrugating machines. The innovation delivers superior bearing protection for corrugator rollers operating at extreme temperatures as 240˚C and in humidity.
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Worldwide Corrugated Packaging Market – Competitive Analysis
The market of Corrugated Packaging is competitive and fragmented owing to the presence of several big & small market players forming a competitive landscape. Key players are adopting the strategic trend of business expansion in the emerging markets.
Key market players are keen on taking care of ecological norms. In order to manufacture cardboard boxes without affecting the containers’ strength or durability; they reinforce corrugation inside the panels. This resultantly reduces both cost and wastage.
In order to survive and create new markets; manufacturers rely on innovation. Therefore, they keep themselves abreast of the new technological developments and latest consumer trends by developing human capital. They don’t hesitate to continually invest their time & money in to the new age developers for the latest technologies which can increase productivity and add value
Worldwide Corrugated Packaging Market – Segments
For the convenience of the report and enhanced understanding; the market of Corrugated Packaging is segmented in to 4 key dynamics.
By Types : Comprising Slotted boxes, Self-Erecting Boxes / Auto-Bottom Boxes, Bliss / Rigid Boxes & Telescope boxes, etc.
By Applications : Personal Care, Food & Beverages, Pharmaceuticals & Healthcare, Electronic Goods, Paper Industry, among others.
By Wall Construction : Single, Double and Triple-wall corrugated packaging.
By Regions : North America, Europe, APAC and Rest of the World.
Segment – Rigid boxes by types, in 2016 accounted for the largest market share i.e. 29.50% in terms of value. The segment is further estimated to register 6.04% CAGR during the assessment period (2017-2023)
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Worldwide Corrugated Packaging Market – Geographical Analysis
North America market in 2016, dominated the global Corrugated Packaging Market with 33.4% share. The region is further expected to grow at 5.69% CAGR during the review period. This growth of the region attributes to the burgeoning e-commerce industry fueled by the increasing cross-border trade and huge demand for online shopping.
On the other hand, Asia-Pacific region, emerging as the fastest growing market of Corrugated Packaging registered 6.39% of a CAGR in 2016. Growing with the lucrative opportunities in packaging industry and growing ecommerce industry in the region, APAC is expected to register a fabulous CAGR during the forecast period.
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