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Global Corrugated Boxes Market Report 2023: A $305+ Billion Industry by 2028 Featuring Key Players - International Paper Co, Nine Dragons Paper, WestRock Co, Smurfit Kappa, and Rengo Co
Global Corrugated Boxes Market
Dublin, March 13, 2023 (GLOBE NEWSWIRE) -- The "Global Corrugated Boxes Market Report and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global corrugated boxes market size attained a value of around USD 233.62 billion in 2022. Aided by the increasing demand from food and beverage industry, the market is projected to further grow at a CAGR of 5.0% between 2023 and 2028, to reach a value of USD 305.93 billion by 2028.
Corrugated boxes are a type of disposable carton with multiple layers of a cardboard-like material consisting of an inside liner, a medium liner, and an outside liner. They find their applications in several industries including food and beverage, relocation, office supply and stationery, textiles, e-commerce, industrial supply and logistics, healthcare, and electronic products.
The durability, cost-effectiveness and protection provided by corrugated boxes have increased their use in the packaging and shipping of the products as well as storing products for both long-term and short-term.
Furthermore, corrugated boxes are in high demand due to their bio-based, biodegradable, and recyclable characteristics which makes them an important part of the circular economy. They are made of natural resources and wood and offer an adequate hygiene level that protects contents from damage and outside contamination. Corrugated boxes can be easily reused in as-is condition or can also be used to produce new corrugated boxes.
Major drivers of the global corrugated boxes market are its sustainability benefits, crush resistance along with its extensive use in the packaging of lightweight products such as cosmetics, fast-food, and electronics. Technological advancements such as the development of unique and new manufacturing and printing techniques is yet another major driver contributing to the growth of the market. New and smart packaging techniques are expected to increase the efficiency and reduce the overall cost of corrugated boxes.
Increasing urbanisation and rising population are also increasing the consumer demand for various products, helping in the growth of the overall market for corrugated boxes for packaging purposes. Corrugated boxes can be made without using any harmful chemicals and can also be used for promotional purposes.
By utilising the outsides of the boxes for promotions, the appeal of the boxes corrugated boxes and their contents can be increased for buyers when on display in the supermarkets or other stores. Their surging demand from the e-commerce and other retail sectors are further fuelling the corrugated boxes market growth.
Competitive Landscape
This report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the corrugated boxes market companies.
Key Attributes:
Report Attribute | Details |
No. of Pages | 228 |
Forecast Period | 2023 - 2028 |
Estimated Market Value (USD) in 2023 | $239.93 Billion |
Forecasted Market Value (USD) by 2028 | $305.93 Billion |
Compound Annual Growth Rate | 5.0% |
Regions Covered | Global |
Some of the major key players explored
International Paper Company
Nine Dragons Paper (Holdings) Limited
WestRock Company
Smurfit Kappa Group plc
Rengo Co., Ltd
Market Segmentation
The market can be divided on the basis of material, end use, and region.
Market Breakup by Material
Recycled Corrugates
Virgin Corrugates
Market Breakup by End Use
Food Products and Beverages
Paper Products
Electrical and Electronic Goods
Personal Care and Household Goods
Chemicals
Glassware and Ceramics
Textile Goods
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/xiiu2j
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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