The packing boxes market is forecasted to exhibit a 5% CAGR through 2033, as per FMI’s analysis. The industry’s size is predicted to extrapolate from US$ 141.44 billion in 2023 to US$ 230.37 billion by 2033.
The packing boxes market is set for significant growth, driven by increasing e-commerce activities, the rising demand for sustainable packaging solutions, and robust industrial expansion. The growing trend of online shopping has fueled the need for efficient and durable packaging to ensure safe product delivery, boosting the packing boxes market. Additionally, heightened environmental awareness has led to a surge in demand for eco-friendly and recyclable packaging materials, prompting manufacturers to innovate and adopt sustainable practices.
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Advancements in packaging technology and the integration of smart packaging solutions are further propelling market growth. These innovations enhance the functionality and appeal of packing boxes, catering to the diverse needs of various industries, including food and beverages, electronics, and consumer goods. Furthermore, the expanding logistics and transportation sector is contributing to the increased demand for packing boxes, as they provide essential protection and support during transit.
Top Highlights from the FMI’s Analysis of the Packing Boxes Market
- India is projected to expand at an exponential rate through 2033. Manufacturers are forecasted to crowd the country to capture profitable businesses in the end-use industries.
- The adoption of packing boxes becomes widespread, as the food industry mushrooms at a fast pace in China.
- Australia’s market offers considerable revenue growth potential from 2023 to 2033.
- South Korea is expected to witness high demand for packing boxes.
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Latest Developments Burgeoning the Market Expansion
- In May 2023, Stora Enso introduced easy-to-recycle food packaging called Tambrite Aqua+. This innovative solution has 0% fluorochemical and can endure exterior moisture or grease to keep the food packaging chilled and frozen. This folding box board solution is engineered to reduce the need for fossil-based plastics.
- In January 2023, Mondi, a packaging giant, officially declared its hefty investment aligned with its 2021-22 capacity expansion strategy for corrugated cardboard production.
- In June 2023, VPK Group introduced a paper machine in Normandy. In June 2022, the VPK converted Alizay’s industrial site into a sustainable development hub for the circular economy.
- In September 2022, Stora Enso acquired De Jong Packaging Group to boost the production of corrugated packaging. The primary objective behind this acquisition is to invigorate the company’s market presence for corrugated packaging in Europe.
Key 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:
- Sloted Box
- Folder Box
- Telescope Box
- Die-Cut Box
By End Use:
- Food
- Beverages
- Electronics & Electricals
- Healthcare
- Textiles & Apparels
- E-Commerce
- Building & Construction
- Personal Care & Cosmetics
- Chemical & Fertilizers
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and 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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