Asia Pacific Region Reported to be Leading the Global Corrugated Market Trends in the Forthcoming Years
Summary
Corrugated Market Segments, ~4.15% of CAGR, Growth, Statistics | Global Corrugated Market Information by Type (Rigid Boxes, Self-Erecting Boxes, Telescope Boxes, Slotted Boxes and Others), By Wall Construction (Single-Wall, Double-Wall, Triple-Wall), By Application (Food & Beverages, Consumer Goods, Personal Care, Healthcare, E-Commerce, Others) And Region - Forecast To 2025
Corrugated Market – Overview
The augmented purchase of consumer electronics and other large items necessitate the use of corrugated boxes greatly. Reports that explore the packaging and transport industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. Earnings valued at USD 87.78 billion are expected to be created with a 4.15 % CAGR by 2025.
The growth of the market is primarily influenced by the fast-paced growth in the electronic industry, rising expansion of the ecommerce sector, and the prevailing demand for product safety. The growth of the electronic sector, in particular, is a major factor of the global Corrugated Market. On the other hand, the regulations imposed by the government and the striking effects on the environment are identified to cause major hindrance to the overall growth of the market.
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Key Players
- Smurfit Kappa Group
- International Paper
- Mondi Group
- Orora Packaging Australia Pty Ltd
- Archis Packaging (India) Pvt. Ltd
- DS Smith
- Nefab Group
- WestRock
- Georgia-Pacific LLC
- Europac Group
- Packaging Corporation of America
Industry Updates
Sep 2019 Amazon, the e-commerce company has unveiled its long-term sustainable packaging initiatives as per which the company plans to remove single-use plastic packing by June 2020. Also, the online retailer will tap recycled paper cushions to substitute plastic dunnage through all its FCs in India by the conclusion of the year. Moreover, its packaging material in the mode of corrugated boxes and paper cushions are manufactured by means of recycled content as high as 100% and are also completely recyclable.
Detailed Regional Analysis
The global Corrugated Market Trends is regionally distributed among the following major regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).
The Asia Pacific region leads the Corrugated Market standings and is expected to carry on with its dominance over the forecast period. A number of key factors like the fast-paced economic development, strong and favorable support from the government, availability of raw materials, and cheap labor pool is pushing the demand for the safe packaging manufacturing sector herein. Additionally, the growth of the regional market is aided by the growth of the packaging industry in countries like Vietnam, India, Indonesia, Cambodia, Bangladesh, and Thailand. Both India and China stand out as the major contributors of the regional Corrugated Market. China is especially projected to stand out with the largest market share over the forecast period between 2016 and 2021. These countries are driven by their growing economical state, the increasing population base, and the rising disposable income of people. The growth of these countries is accelerating the overall growth of the Corrugated Market in the Asia Pacific region.
The North American region is a key market in the global landscape and follows Asia Pacific as the second largest market share holder. The growth of this region can be attributed to the presence of developed countries like the US and Canada herein. Owing to the increasing demand for corrugated boxes from the ecommerce industry, manufacturers in this region are planning to increase their production capacities. This, in turn, boosting the global standings of the North American regional market. Major players like WestRock, Georgia Pacific LLC, International Paper Company, KapStone Paper and Packaging Corporation, and others are aiding the market growth with constant developments and innovations. The European region is also expected to garner significant growth over the forecast period due to the high rate of paper recycling done here in this region. The high paper recycling rate is prompting increasing production of corrugated boxes, one which is supporting the growth of the regional market in a positive manner.
Segmental Analysis
The global Corrugated Market segmentation is done on the basis of the following components: type, application, and wall.
By type, the market includes self-erecting boxes, rigid boxes, slotted boxes, telescope boxes, and others.
By wall, the market segments into triple wall, double wall, and single wall.
By application, the market comprises consumer goods, food & beverages, healthcare, personal care, ecommerce, and others. Among these segments, the food & beverages market holds the highest growth potential and is expected to lead this market category during the forecast period.
Competitive Analysis
The profit generation streams in the market are optimized to yield maximum benefits in the coming years. The alternatives present for growth in the market are lucrative to long term growth of the market. The opportunity costs in the market are not elevated and are beneficial to progress in the market. The benefits to the economy from the development of the market are high. The current economic climate is promoting stable development in the market by favorable availability of resources. The market has accomplished a superior stride in the past couple of years, which is underscored by the events with regards to valuation. The increase in sponsors in the market plays an essential role in the progress of the market. The reduction in the barriers to trade is anticipated to embody cutting-edge areas for expansion in the approaching years. The market is well-armed to find the way throughout the unstable tides, unforeseen turmoil, and unexplored waters in the international economy. The augmentation of the resources important to endure competition has enhanced broadly directed to a top development rate of the market.
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