This report titled “Corrugated Box Packaging Market - Growth, Future Prospects, and Competitive Analysis, 2016 – 2024” offers strategic insights into the trends in corrugated box packaging market along with the market size and forecast for the duration 2013 to 2024. The said research study incorporates in-depth analysis of multiple market segments based on application and geographical distribution.
Nowadays, packaging of a particular product is a key component in the overall product life cycle. Increasing consumer inclination towards light weight and convenient packaging is fuelling the demand for advanced packaging solutions mitigating the consumer demand through tapping organized retail sector. Corrugated packaging material is made from recycled card board box, which is eco-friendly resulting in significant adoption of corrugated box packaging among both food and non-food manufacturers across the globe. Basically, paperboard that is utilized for manufacturing of corrugated box packaging is defined as containerboard. Corrugated box packaging market finds profound application for processed foods, fresh food and produced food and beverage, personal and household care, chemicals, paper products, electrical goods, glassware and ceramics, wood and timber products, textiles, tobacco, transport and others.
Based on application, the global corrugated box packaging market is segmented into food & beverage, automotive, electronics, health & hygiene, pharmaceuticals and other consumer goods. Market size and forecast for all the considered segmentation is presented in this report for the period 2013-2024 (US$ Mn) along with their respective CAGRs for the forecast period 2016-2024 (Value %).
Based on application, the global corrugated box packaging market is segmented as follows:
Corrugated boxes are found on different combinations and styles and thus, are used in both food and non-food applications. Among aforementioned applications undertaken in the study, food and beverage segment holds largest market share in 2015. Demand for efficient packaging solutions in food and beverage products is a key factor driving the corrugated box packaging market growth. By 2024, food and beverages is anticipated to remain dominant in terms of revenue contribution, followed by electronics and other consumer goods segment. Electronics segment is anticipated to record highest CAGR during the forecast period. Online shopping has gained momentum among consumer across the globe, which is a key factor fuelling the demand for corrugated box packaging in electronics segment. In addition, penetration of online shopping among consumers worldwide has led to development of sustainable and convenient packaging ensuring product safety while transportation, easy handling and reduced cost. Other consumer goods segment is expected witness significant growth especially in Asia Pacific region during the forecast period. Since, food and beverages industry and consumer goods are major contributors to overall economy in the Asia Pacific region, the corrugated box packaging market is expected to spur in the next five to six years.
In 2015, North America was the leading market followed by Asia Pacific and Europe. Asia Pacific and Europe collectively accounted for more than 50% share of the market in terms of value. Corrugated box packaging market growth in Europe and North America is majorly driven by demand for sustainable packaging among end use industries coupled with new product launches catering to the increasing demand for corrugated box packaging especially among electronics and consumer goods manufacturers. However, growth is projected to be fastest from the Asia Pacific region during the forecast period 2016 to 2024. Some of the factors driving the corrugated box packaging market growth in Asia Pacific include urbanization, growing and ageing population, nuclear family concept, government intervention for development of eco-friendly products and others. The market for corrugated box packaging in Latin America is anticipated to record significant growth, followed by Middle East and Africa.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Corrugated Box Packaging market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
