The market for packing boxes is forecast to grow at a consistent CAGR of 5% between 2022 and 2032. According to predictions, the market for packing boxes would increase from US$ 134.7 billion in 2022 to US$ 219.4 billion in 2032. Prior to this, the market for packing boxes was expected to reach US$ 128.1 billion in 2021 thanks to a CAGR of 2.5% (2016–2021).
The worldwide packing boxes market is anticipated to increase steadily over the forecast period due to the expanding food and beverage industry. A rise in online sales is projected to be the primary driver of the cardboard packaging industry as a whole in the near future.
Growing urbanisation and population necessitated the movement of materials from one location to another, necessitating the adoption of packing boxes all over the world. People in developing countries such as India, China, and Brazil, including working groups, students, and tourists, migrate from one place to another for a variety of reasons, including the necessity to move their personal belongings, necessitating the adoption of packing boxes.
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The flexible plastic packaging sector is putting a strain on the packing box market. Manufacturers and retailers profit the most from flexible plastic packaging since it reduces package weight, resulting in lower shipping and warehousing costs and the need for much less space. This has a negative impact on the packing box market.
Changing lifestyles and the rising trend of population migration in emerging nations are expected to drive the packing box market. Moving boxes are distinct from standard corrugated boxes and folding cartons in size, shape, and design because, unlike corrugated boxes and folding cartons, they are intended for both product storage and transportation. Corrugated boxes and folding cartons are mostly used for storage. Consumers can choose from a number of sizes and designs of packing boxes to match their individual packing needs.
Televisions, computers, clothes, beds, culinary utensils, and other household and personal belongings can be readily packed and moved from one area to another. Increasing adoption of packing boxes in Latin America, Asia, and the Middle East is expected to boost the packing boxes market throughout the forecast period. A growing middle-class population and increased discretionary income levels are expected to drive the global packing boxes market.
By providing raw material for the packaging sector, the rising paper and cardboard industry is also fuelling the expansion of the packing boxes market. Paper and cardboard output in the world exceeds 400 million metric tonnes per year, and it is predicted to quadruple by the end of the forecast period. For example, the global Paper industry generated $ 20 billion in revenue in 2020.
The expanding adoption of packing boxes in food and beverage packaging, paper, electronics, textiles, personal care, chemicals, glassware, and ceramics is propelling the moving boxes market northward. Furthermore, the e-commerce business is expanding since online shopping offers the comforts of free shipping and hassle-free delivery, as well as return policies.
Over the forecast period, online retailers’ use of product-specific moving boxes to safeguard items from mechanical stress is likely to fuel the sales of packing boxes.
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
- 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
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Key Takeaways:
- By the end of 2026, North America is expected to be the third-largest market for packing boxes, with around 16 percent of the market share.
- Virgin segment leads the packing boxes market with the projected CAGR of 3.8% by 2032.
- Based on box style, the slotted category is predicted to earn the most income in the packing boxes sector between 2020 and 2030.
- Asia Pacific is the world’s largest packing boxes market, with China accounting for over 30% of worldwide output. In addition, the United States supplied about 15% of global manufacturing.
Competitive Landscape:
Companies in the packing boxes market strive to produce new products, expand their operations, and form strategic collaborations with other manufacturers. Major corporations are broadening their product manufacturing capabilities, product portfolios, and global reach as well.
These companies have used a range of growth strategies to improve their market position in packing boxes. Expanding their product variety and geographical presence through expansion, new product development, mergers and acquisitions, and collaboration are all significant growth strategies for these organisations in order to meet the expanding demand for packing boxes from emerging nations.
Some of the recent developments in the packing boxes market include:
Smurfit Kappa Group LLC announced the creation of a new e-commerce corrugated packaging laboratory in the United Kingdom on June 29, 2021, to test and implement new e-commerce solutions that are minimum ISTA certified.
Mondi added a new product, BCoolBox, to its sustainable e-commerce portfolio on February 1, 2021, which will carry fresh produce and cuisine. This product is a corrugated packaging solution with thermo-insulation that ensures food is chilled and stays below 7 degrees Celsius for a minimum of 24 hours without the use of an external cooling device.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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