The packaging boxes sector is poised for sustained growth with a projected stable Compound Annual Growth Rate (CAGR) of 5% expected to persist until 2033. This robust trajectory signifies the industry’s resilience and adaptability. The market’s scale is forecasted to experience substantial expansion, surging from its 2023 valuation of US$ 141.44 billion to an impressive US$ 230.37 billion by the year 2033.
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.
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.
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Trends Influencing the Packing Boxes Market:
- Digital printing technology is being embraced by packing box manufacturers, empowering them to develop high-quality images and graphics on boxes at a lower price than standard printing methods. This trend has facilitated brands to develop distinct and appealing packing solutions that stand apart on store shelves.
- Packing box manufacturers are emphasizing lowering their packing boxes’ weight to diminish shipping costs and environmental impact. Manufacturers are developing boxes that hold similar durability and strength as heavy-duty packing boxes but with low footprints.
- Surging demand for eCommerce-specific packing solutions to fulfill the demand for packaging that is particularly made to suit the specifications of online shopping. This packaging consists of boxes that can endure the rigors of handling and shipping. These packaging can be conveniently opened or resealed by consumers.
- The manufacturing process of packing boxes is widely automated, enabling manufacturers to develop boxes quickly and competently. This trend is assisting manufacturers to lower costs and drive production efficiency.
- Consumers are becoming wary of the environmental impact of packaging materials. Due to this, manufacturers are seeking ways to make packing boxes sustainable. This consists of utilizing recycled materials like old corrugated containers (OCC) and discovering new alternative materials like sugarcane and bamboo.
- Brands are seeking distinct packaging solutions that assist their products to shine brightly to their target market. Packing box manufacturers are responding by delivering an extensive range of customization options like colors, custom sizes, and finishes. This trend is assisting brands to develop packaging that is both functional and elevates their brand image.
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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
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Major Players:
- Mondi Group Plc
- Bee Packaging
- DS Smith Packaging Limited
- Oji Holdings Corporation
- Smurfit Kappa Group Plc
- International Paper Company
- WestRock Company
- Georgia Pacific Packaging LLC
- Pratt Industries, Inc.
- Tat Seng Packaging Group
- VPK Packaging Group NV
- STORA ENSO OYJ
- Nelson Container Corporation
- Great Little Box Company Ltd.
- Acme Corrugated Box Co. Inc.
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.
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