Flourishing Packaging Industry Fueling Sales of Corrugated Boxes

With the rapid growth of the packaging industry, the demand for corrugated boxes is skyrocketing around the world. As per the Interpack Emerging Market Outlook, the valuation of the global packaging industry was $839 billion in 2015. The growing requirement for manufactured goods such as smartphones, television sets, and consumable products such as candies, is boosting the popularity of corrugated boxes across the globe, on account of the fact that these boxes are used for the packaging of these products.

This is because these boxes have high crush resistance and structural strength. Furthermore, the packaging industry is set for explosive growth in the coming years, despite the COVID-19 pandemic and the subsequent implementation of country-wide lockdowns in several countries around the world. As the corrugated boxes are stronger than the conventionally used cardboard box packaging and have higher pressure resistance than other packaged boxes, they are increasingly being used for shipping applications.

Because of the above-mentioned factors, these boxes are being extensively used for transporting fragile consumer goods and heavy products. The growing popularity of online shopping and on-demand delivery services is pushing up the demand for corrugated boxes across the world. Besides these factors, the mushrooming utilization of corrugated boxes by retailers is also fueling the sales of these boxes throughout the world. The retail industry is exhibiting rapid expansion in China and India.

This is due to the rapid development of proper delivery infrastructure, the increasing penetration of the internet and the growing usage of smartphones, and the provision of huge discounts. The advent of the scale-open retail ecosystem platforms in various regions is offering retailers a golden opportunity to scale their operations. This is, in turn, driving the sales of corrugated boxes. The ballooning sales of these boxes are propelling the growth of the global corrugated boxes market.

According to the forecast of P&S Intelligence, a market research firm based in India, the valuation of the market would grow from $180.9 billion to $284.6 billion from 2019 to 2030. Furthermore, the market is predicted to demonstrate a CAGR of 4.3% between 2020 and 2030. Corrugated boxes are available in different board styles namely single-wall, single-face, triple-wall, and double-wall. Amongst these, the demand for the single-wall board-based corrugated boxes would be the highest in the future years.

Globally, the Asia-Pacific (APAC) corrugated boxes market is predicted to exhibit lucrative growth in the coming years. This would be because of the easy availability of the raw materials and the increasing enactment of various government initiatives aimed at promoting sustainable development in the regional countries. Furthermore, corrugated boxes are heavily used in various trade activities, on account of their ability to provide greater convenience than the traditionally used packaging materials.

Hence, it can be said with certainty that the demand for corrugated boxes would skyrocket all over the world in the forthcoming years, mainly because of the rapid growth of the packaging industry and the rising requirement for stronger and pressure-resistant packaging materials and boxes around the world.