Globally, the corrugated box market is set to witness substantial growth with an estimated CAGR of 4.3% between 2023 and 2033, propelling its value from US$ 140.4 billion in 2023 to an impressive US$ 213.9 billion by 2033.
The United States, as a significant industrial hub, boasts a substantial market for corrugated metal planter boxes across various sectors. The growth of e-commerce has also played a pivotal role, with surging retail sales in the online space, a trend that is expected to maintain the regional market’s profitability in the foreseeable future.
Meanwhile, in the Asia Pacific region, the corrugated metal planter box market is poised for high growth with an impressive Compound Annual Growth Rate (CAGR). Notably, the Association of Nations in South East Asia is emerging as a key area for expansion. The burgeoning demand and supply in industries like food and beverage, electronics, and personal care, particularly in countries such as China, India, and Japan, are significant drivers of market growth in this region.
In Europe, the e-commerce sector is experiencing a remarkable 20% annual growth rate. The increasing adoption of online shopping in Central and Eastern Europe, coupled with a growing emphasis on sustainability, is propelling the corrugated metal planter box market within various industries. These dynamics highlight the global significance of this versatile packaging solution.
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The Major Key Payers Are:
- Mondi Group Plc
- Bee Packaging
- DS Smith Packaging Limited
- Oji Holdings Corporation
- Smurfit Kappa Group Plc
- International Paper Company
- others
Recent Developments by the Corrugated Box Industries
- Mondi announced the addition of a new product, BCoolBox, to its sustainable e-commerce portfolio on 1st February 2021, which could include fresh produce and food. It is a packaging solution made up of a corrugated range with thermo-insulation that is might keep food cold without having to rely on external cooling. As per the company, this new solution is designed to keep stored commodities at a consistent temperature of fewer than 7 degrees for 24 hours.
- International Paper completed the acquisition of two state-of-the-art corrugated box plants in Spain in March 2021. By acquiring this company, the company is likely to be able to enhance its capabilities in Madrid and Catalonia. Regarding EMEA, the corrugated box business is of strategic importance for the company. With a focus on fruit and vegetable packaging and e-commerce solutions, it offers high-quality packaging solutions in the industrial segment. The two businesses have been part of International Paper since April 1, 2021.
What is Limiting the Growth of the Corrugated Box Market?
- Environmental Concerns: With increasing emphasis on sustainability and environmental responsibility, the use of corrugated boxes, which are made from paper and cardboard, can be limited by concerns about deforestation and the overall carbon footprint of the packaging industry. This has led to a push for alternative, eco-friendly packaging materials.
- Competition from Digital Media: In an increasingly digital world, there is a decline in the demand for physical products and, consequently, for corrugated boxes used in packaging. Many companies have shifted towards digital advertising and communication, reducing the need for physical packaging.
- E-commerce Packaging Efficiency: While e-commerce has driven demand for packaging, it has also led to a focus on optimizing packaging size and material to reduce shipping costs. This can limit the growth of corrugated boxes as companies seek more efficient and cost-effective packaging solutions.
- Price Volatility of Raw Materials: Fluctuations in the cost of raw materials, particularly paper and cardboard, can affect the pricing and profitability of corrugated boxes. Price volatility can limit market growth as businesses seek more stable and cost-effective packaging options.
- Technological Advances: Advancements in packaging technology, such as the development of new materials and more efficient packaging machinery, can lead to alternatives that are seen as more effective or innovative than traditional corrugated boxes.
- Trade Tariffs and Supply Chain Disruptions: International trade tensions and supply chain disruptions can affect the availability and cost of corrugated materials, impacting the growth of the market.
Growth Drivers of the Corrugated Box Market
The sustained growth of the Corrugated Box Market can be attributed to several key factors:
Globalization of Trade
The interconnectedness of economies has fueled the need for efficient and secure packaging for international shipments. Corrugated boxes provide the required protection while optimizing storage and transportation.
Increased Online Shopping
The proliferation of online shopping platforms has led to a surge in demand for packaging materials. Corrugated boxes are the preferred choice due to their durability and suitability for various products.
Sustainability Initiatives
Government regulations and consumer preferences favor sustainable packaging solutions. Corrugated boxes, being recyclable and biodegradable, align with these initiatives and contribute to their widespread adoption.
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Key segments
By Material Type:
- Virgin
- Recycled
By Board type:
- Single Face Board
- Single Wall Board
- Double Wall Board
- Triple Wall Board
By Grade type:
- Liner
- Fluting Medium
By Product Type:
- Slotted Box
- Folder Box
- Telescope Box
- Die-Cut Box
By End Use:
- Food
- Beverages
- Electricals & Electronics
- Healthcare
- Textiles & Apparels
- E-commerce
- Building & Construction
- Personal Care & Cosmetics
- Chemical & Fertilizers
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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