The global corrugated box market is poised for significant growth, with a projected compound annual growth rate (CAGR) of 4.3% from 2023 to 2033. The market valuation is expected to increase from US$ 140.4 billion in 2023 to US$ 213.9 billion in 2033, driven by the adoption of sustainable packaging solutions and advancements in digitalization.
Sustainable Packaging Trends in Central and Eastern Europe
In Central and Eastern Europe, the packaging of corrugated boxes is characterized by a sustainable approach and the use of eco-friendly materials, which is highly appreciated by approximately 80% of the population. Consumers increasingly prefer sustainable corrugated packaging solutions for online shopping, with 77% of cases opting for such solutions. Moreover, around 57% of respondents are willing to pay more for customized and sustainable corrugated packaging solutions.
Request a report sample to gain comprehensive insights: https://www.futuremarketinsights.com/reports/sample/rep-gb-302
Digitalization and Innovation in Corrugated Industry
Key players in the corrugated industry, such as Smurfit Kappa, are driving innovation through digitalization. By leveraging new technologies and improving existing ones, manufacturers are enhancing their sustainability efforts while meeting the evolving needs of consumers. Customized graphic design solutions tailored to each client have resulted in increased sales and greater flexibility for market players, driving the digitalization of paper-based packaging and creating opportunities for market expansion.
“Growing inclination towards green packaging and surging demand for customized, safe, and shock-absorbing packaging solutions across personal care and cosmetics industry for shipment of e-commerce purchases is augmenting the growth in the market,” says a FMI analyst.
Key Drivers
- Increasing use of virgin corrugated boxes for the packaging of premium personal care and cosmetic products to offer the luxurious appeal is propelling the demand for corrugated boxes across the virgin segment.
- Surging demand for corrugated boxes for the food delivery of ready-to-eat products such as pizza, cookies, cakes, and burgers among others is accelerating the sales across the food and beverages segment.
Key Restraints
- Rising concerns regarding the deforestation and high cost of manufacturing virgin corrugated boxes are hindering the growth in the virgin segment.
- Low durability in moist weather and vulnerability to water are the factors hindering the sales of corrugated boxes.
Purchase Now to Access Segment-specific Information and uncover Key Trends, Drivers, and Challenges: https://www.futuremarketinsights.com/checkout/302
Competitive Landscape
Top five companies in the global corrugated boxes market are Smurfit Kappa Group plc, International Paper Company, WestRock Company, Georgia Pacific LLC and DS Smith plc. As per FMI, these players are estimated to collective account for nearly 30% to 35% of the revenue share in 2021.
Leading manufacturers are aiming at adopting strategies such as product launches, expansions, mergers, acquisitions, and strategic partnerships with other players to expand their product portfolio, manufacturing capabilities, and global presence. For instance,
- In June 2021, Smurfit Kappa Group LLC, a leading providers of paper-based packaging, announced the opening a new e-commerce corrugated packaging facility in Northampton, U.K. This will assist the company to launch and test new solutions in the e-commerce sector certified with reliable The International Safe Transfer Association (ISTA) certification.
- In February 2021, Mondi, a British multinational packaging and paper group, annocuned launching its new sustainable e-commerce product BCoolBox, which can carry fresh produce and food. The corrugated range of the product comes with thermo-insulation that make sure the food is chilled to less than 7 degrees Celsius for a minimum of 24 hours without the support of any external cooling device.
Some of the key players operating in the market profiled by FMI are:
- Smurfit Kappa Group Plc
- Mondi Group plc
- International Paper Company
- WestRock Company
- Georgia Pacific Packaging LLC
- Pratt Industries, Inc.
- Oji Holdings Corporation
- DS Smith Packaging Limited
- Tat Seng Packaging Group
- VPK Packaging Group nv
- STORA ENSO OYJ
- Nelson Container Corporation
- Great Little Box Company Ltd.
- Action Box Inc.
- Acme Corrugated Box Co. Inc.
- Wertheimer Box Corporation
- Shillington Box Company
- Bee Packaging
- A.D. Inc. of Milwaukee
- Shanghai DE Printed Box
- Others
We Offer tailor-made Solutions to fit Your Requirements, Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-302
More Valuable Insights on Corrugated Boxes Market
A new report published by FMI offers an in-depth analysis of the global corrugated boxes market, uncovering vital dynamics accelerating the market growth between 2021 and 2031. The survey also forecast sales projections for corrugated boxes market with detailed segmentation:
By Material Type:
- Virgin
- Recycled
By Board Type:
- Single Face Board
- Single Wall Board
- Double Wall Board
- Triple Wall Board
By Grade Type:
- Liner
- Kraftliner
- Bleached
- Unbleached
- Test liner
- Bleached
- Unbleached
- Kraftliner
- Fluting Medium
-
- Semi-Chemical
- Recycled
By Product Type:
- Slotted Box
- Folder Box
- Telescope Box
- Die-Cut Box
By End-Use:
- Food
- Processed Food
- Fresh Produce
- Dairy Products
- Food Grains
- Confectionery & Bakery
- Other Foods
- Beverages
- Alcoholic
- Non-Alcoholic
- Electrical & Electronics
- Industrial
- Consumer
- Healthcare
- Pharmaceutical
- Medical Devices
- Textiles & Apparels
- Tobacco
- E-commerce
- Building & Construction
- Homecare
- Automotive & Allied Industries
- Personal Care & Cosmetics
- Chemicals & Fertilizers
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East & Africa
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
