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.
In the wake of eCommerce and economic growth, the circulation of multifold packing boxes has become rampant. Thus, the growth of the eCommerce sector reverberates in the packing boxes industry.
Packing boxes made of cardboard are sturdy, lightweight, and economical to produce. Their use in the shipping industry shrinks shipping costs to a great extent and empowers consumers with increased access to goods at their fingertips. They are also convenient to assemble, disassemble, or seal, making them an ideal option for packing.
Customized packing boxes are becoming a norm since the eCommerce sector is constantly upgrading itself to efficiently serve the changing needs of businesses and consumers. Further, manufacturers are focusing on creating custom-tailored packing boxes, with sizes and dimensions of the packing boxes tailored to avoid material wastage.
Manufacturers of packing boxes are developing sustainable paper-based food packing boxes to enable food chains to achieve their sustainability goals. These boxes are created in a myriad of shapes and capacities to efficiently pack different food items.
In the confectionery industry, sophisticated packaging is given great significance. Businesses leverage this assessment by packing confections in alluring packaging to attract potential customers.
Key players are striving to offer a ‘one-stop shop’ for all their shipping and packaging requirements for everyone’s needs. Manufacturers are developing and offering customized packing boxes to small and large businesses.
Demand for heavy-duty packing boxes is increasing for shifting, storing, and packing fragile products that require added protection and bulky and heavy items that need a sturdier box.
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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