The worldwide rigid box market is anticipated to have a wide range of growth opportunities between 2022 and 2032. The market saw a CAGR of 5% to 6% for the entire period of valuation. The global market is anticipated to achieve a value of US$ 5.5 billion by the end of 2032.
The rapidly growing e-commerce and logistics industries are creating opportunities for the global industry to grow, which is due to the market’s growth. These industries are increasing the need for stiff packaging options for delicate and sensitive goods. Due to the growing premiumization trend, a number of industries are adopting luxury rigid boxes at an increasing rate. As a result, it is anticipated that the market for premium rigid boxe market will provide an absolute dollar opportunity during the evaluation period.
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Packaging is one of the crucial forms of defence employed to shield the goods from damage or other abrasive external forces. Furthermore, rigid boxes are among the most crucial elements of the packaging industry and are frequently used for a wide range of purposes, including the protection of fragile objects, storage, transportation, value addition, and others across a variety of industries.
Key Takeaways
- Over the past few decades, the global packaging industry has witnessed a massive transformation from utilizing metal and plastics packaging solutions to using paper fiberboard and corrugated ones.
- Such transformations are attributed to the ever-changing customer preference and end-user demand for packaging solutions as per product-specific and application-specific requirements.
- Numerous players in the global market are aiming at offering customizable rigid packaging solutions ranging from basic boxes to luxury boxes, which is in turn, projected to favor the growth in the global market.
- Demand for rigid boxes is registering robust growth across industries such as food & beverages, chemical, electrical & electronics, cosmetics & personal care, and healthcare for primary, secondary, and bulk packaging applications.
- With the rising working population and growing fast-paced lifestyle, especially across developed countries such as the U.S., Germany, Japan, the U.K., and others consumption of packaged and ready-to-eat food & beverage products is increasing at a rapid pace.
- Rigid boxes such as paperboard and corrugated boxes are extensively used for primary and bulk packaging of products such as chocolates, tetra pack juice, snacks, packaged bakery products, breakfast cereals, and others. Hence, accelerating sales of packaged food & beverage products is estimated to augment the demand for rigid boxes in the global market.
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Competitive Landscape
Prominent players in the global rigid boxes market are focusing on launching sustainable products and mergers & acquisitions to increase their share in the highly competitive market.
More Insights into the Rigid Boxes Market
The Asia Pacific region excluding Japan is anticipated to dominate the global rigid boxes market over the evaluation period. The Asia Pacific region is expected to account for lion’s share over the next decade.
A substantial surge is witnessed in the sales of consumer electronic and wearable devices over the APAC region. Countries such as China, India, South Korea, and Australia among others, owing to the growing tech-savvy population in Asia Pacific, fueling the demand for rigid packaging solutions.
According to recent studies, approximately 173 million units of smartphones were sold across India in 2021, exhibiting 14% growth as compared to sales in 2020. As luxury rigid boxes are extensively used for packaging these expensive electronic devices, increasing sales of consumer electronics are projected to bolster the growth in the Asia Pacific excluding Japan market.
According to the analysis, Eastern Europe is expected to emerge as a highly remunerative market for rigid boxes during the forecast period 2022-2032. Furthermore, as the trend of premiumization continues to create deeper inroads across the sectors such as personal care & cosmetics, gifts, chocolates, and others, end use manufacturers are increasingly focusing on adopting expensive-looking and tempting packaging solutions to enhance the product appeal. Thus, leading players in the market are aiming at introducing novel luxury rigid boxes to capitalize on this existing opportunity.
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Key Players:
- International Paper Company
- Mondi Group Plc
- Metsä Board
- Bee Packaging
- Tat Seng Packaging Group Ltd.
- Stora Enso Oyj
- Smurfit Kappa Group Plc
Key Segments Profiled in the Rigid Boxes Market Survey
By Material Type:
- Paper
- Containerboard
- Paperboard
- Plastic
- Polypropylene
- High-Density Polyethylene
- Other plastics
- Metal
- Aluminum
- Steel
By Product Type:
- Basic Rigid Boxes
- Secondary Rigid Boxes
- Luxury Rigid Boxes
By End Use:
- Electrical & Electronics
- Cosmetics & Personal Care
- Food & Beverages
- Healthcare
- Home Care
- Automotive & Allied Industries
- Chemical
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Japan
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