The global multi depth corrugated box market had an estimated valuation of US$ 4.8 billion in 2023 and is expected to reach a size of US$ 7.7 billion by 2034, increasing at a CAGR of 5% between 2024 and 2034. By 2024, the market for multi depth corrugated box is poised to reach a valuation of US$ 4.8 billion.
The market for multi depth corrugated boxes is being driven by the increased attention and understanding of sustainability. The need for eco friendly packaging solutions is growing as businesses and consumers grow more aware of environmental issues. In an effort to lessen their carbon impact, businesses are using corrugated boxes composed of recycled materials and using sustainable production techniques.
One market potential for multi depth corrugated boxes is to meet the changing demands of the food delivery industry. There is a niche market for creative packaging solutions since there is a growing need for sturdy, insulated, and customized corrugated boxes that maintain food freshness and safety throughout transit due to the expansion of online meal delivery services.
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Key Takeaways from the Market Analysis
- The global multi depth corrugated box market size reached US$ 3.6 billion in 2018.
- From 2018 to 2023, the multi depth corrugated box market experienced a CAGR of 4.1%.
- Over the course of the projection period, the multi depth corrugated box sector in the United States is expected to develop at a CAGR of 4.8% CAGR.
- The multi depth corrugated box is expected to be widely offered through the e retail channel, gaining a 38% market share by 2024.
- With a projected 35% market share in 2024, food service will heavily utilize multi depth corrugated box solutions.
“The growing e commerce industry is a major factor propelling the multi depth corrugated box market, as it increases demand for adaptable and customized packaging options that can handle a broad range of product sizes during shipment and delivery”, says an FMI analyst.
Competitive Landscape
Key companies in the multi depth corrugated box market are experimenting with different approaches. To improve the effectiveness and adaptability of packaging, new designs and materials are being introduced. This involves creating corrugated boxes that can have their depths adjusted to suit a variety of product sizes, enhancing security, and cutting down on waste.
To address the increased need for packaging alternatives that are ecologically sensitive, innovation also extends to eco friendly solutions, such as employing sustainable manufacturing techniques and utilizing recycled materials.
Startups in the multi depth corrugated box market are disrupting conventional methods with novel solutions. They emphasize technology driven strategies like automatic personalization and eco friendly materials. In order to fulfill changing consumer and industry expectations, they want to gain market share and provide flexible and environmentally friendly packaging solutions.
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Key Developments
- In 2023, International Paper announced the launch of its newest innovative corrugated packaging factory in Atglen, Pennsylvania. Over 100 manufacturing jobs in Atglen and the neighboring areas are being created by the new US$ 100 million factory. Corrugated packaging for produce, processed food, beverages, transportation, distribution, and e commerce clients will be made at the new factory.
About the Packaging Domain at Future Market Insights
The packaging domain at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Key Segments Profiled in the Multi Depth Corrugated Box Market
By Capacity:
- Up to 80 lbs
- 80 to 180 lbs
- 180 to 300 lbs
- Above 300 lbs
By Board Type:
- Single Wall
- Double Wall
- Triple Wall
By Strength:
- Normal
- Standard
- Heavy Duty
- Heavy Duty Double Wall
By End Use:
- Food & Beverages
- Consumer Electronics
- Home Care & Personal Care
- Textiles
- Glassware & Ceramics
- Automotive
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East & Africa
About Future Market Insights Inc. (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.
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