Pune, Aug. 07, 2023 (GLOBE NEWSWIRE) -- As per the SNS Insider report, “The Corrugated Boxes Market reached a value of USD 124.4 billion in 2022 and is projected to achieve USD 224.10 billion by 2030, experiencing a compound annual growth rate (CAGR) of 6.6% during the forecast period spanning from 2023 to 2030”.
Market Report Scope
Corrugated boxes are a packaging marvel that combines strength, versatility, and sustainability. Their ability to safeguard products during transit, adaptability to different shapes and sizes, and eco-friendly nature have made them an indispensable choice for businesses worldwide. As technology and design continue to evolve, corrugated boxes will likely remain at the forefront of the packaging industry, shaping a greener and more secure future for shipping and storage needs. As businesses and consumers become increasingly conscious of environmental issues, the demand for sustainable packaging solutions like corrugated boxes continues to rise.
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Market Analysis
In the wake of rising environmental awareness, consumers and businesses alike are seeking eco-friendly packaging alternatives. Corrugated boxes have emerged as a sustainable solution due to their biodegradable nature and recyclable properties. As sustainability remains a key concern in the packaging industry, the corrugated boxes market is expected to attract further growth and investments. Corrugated boxes play a crucial role in optimizing supply chain operations. Their lightweight and stackable design ensure efficient use of space during transportation and warehousing, reducing overall logistics costs. Additionally, the boxes' durability and protective properties minimize product damage, resulting in fewer returns and replacements. As supply chain efficiency becomes a strategic priority for businesses, the market is poised to grow as a vital component in this process.
Corrugated Boxes Market Overview & Scope:
| Report Attributes | Details |
| Market Size in 2022 | USD 124.4 billion |
| Market Size by 2030 | USD 224.10 billion |
| CAGR | CAGR of 6.6% Form 2023-2030 |
| Key Segments | By Type (Slotted Boxes, Rigid Boxes, Telescope Boxes, Self-Erecting Boxes, Others) By Wall Construction (Single Wall, Double Wall, Triple Wall) By Application (Food Beverages, E Commerce, Personal Care, Consumer Goods, Pharmaceuticals, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands,Rest of Europe), Asia-Pacific (Japan, South Korea,China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| 20% free customization scope (equivalent to 50 analyst working hours) | If you need specific information as per your business requirement, which is not currently within the scope of the report, we will provide it to you as a part of customization. |
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Impact of Recession
The corrugated boxes market faces significant challenges during a recession, with reduced demand, shifting priorities, and supply chain disruptions. However, it also presents opportunities in e-commerce, sustainability, customization, and innovation. To navigate the economic downturn successfully, companies must remain resilient, adaptable, and forward-thinking. By embracing sustainable practices, catering to evolving consumer demands, and exploring new avenues, corrugated box manufacturers can not only weather the recession but also emerge stronger in the post-recession landscape.
Impact of Russia-Ukraine War
The Russia-Ukraine war has cast a shadow over the corrugated boxes market, causing disruptions, supply shortages, rising prices, and shifts in demand patterns. The industry's ability to recover and adapt will largely depend on how the geopolitical situation evolves and how businesses strategize their supply chain operations. As the situation remains fluid, stakeholders in the market must remain vigilant and agile to navigate these challenging times.
Key Regional Development
The corrugated boxes market is a dynamic and evolving industry, with regional variations shaping its growth trajectory. Each region's unique economic, industrial, and regulatory factors influence the demand for corrugated boxes. While North America and Europe lead in sustainability-driven packaging practices, Asia-Pacific stands out as a major growth engine due to its expanding e-commerce and manufacturing sectors. In Latin America and the Middle East & Africa, rising consumer awareness and infrastructural developments present opportunities for market expansion.
Key Takeaway from Corrugated Boxes Market Study
- Slotted boxes segment represent a significant chunk of the market. These boxes are characterized by their flaps that interlock to form a secure and robust packaging solution. The popularity of slotted boxes can be attributed to their versatility, cost-effectiveness, and ease of production.
- The food and beverages industry is another significant contributor to the market. The packaging requirements in this sector are unique, demanding protection from external factors while ensuring product freshness and integrity.
Recent Developments Related to Corrugated Boxes Market
- Mill Rock Packaging has officially announced the successful acquisition of Keystone Paper & Box Company, a prominent player in the sector known for its innovative packaging solutions and commitment to sustainability.
- UFP Packaging has recently finalized the acquisition of Titan, a leading corrugated packaging manufacturer. The acquisition marks a significant milestone for UFP Packaging, opening up a plethora of opportunities for growth.
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Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia- Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Corrugated Boxes Market Segmentation, By Type
8.1 Slotted Boxes
8.2 Rigid Boxes
8.3 Telescope Boxes
8.4 Self-Erecting Boxes
8.5 Others
9. Corrugated Boxes Market Segmentation, By Product Type
9.1 Single Wall
9.2 Double Wall
9.3 Triple Wall
10. Corrugated Boxes Market Segmentation, By Application
10.1 Food Beverages
10.2 E Commerce
10.3 Personal Care
10.4 Consumer Goods
10.5 Pharmaceuticals
10.6 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 The Middle East & Africa
11.6 Latin America
12 Company Profile
12.1 Mondi
12.1.1 Market Overview
12.1.2 Financials
12.1.3 Product/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 West Rock Company
12.3 International Paper
12.4 DS Smith
12.5 Oji Holdings Corporation
12.6 Georgia-Pacific
12.7 Packaging Corporation of America
12.8 Smurfit Kappa
12.9 Stora Enso
12.10 Port Townsend Paper Company
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. USE Cases and Best Practices
15. Conclusion
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