(MENAFN- iCrowdNewsWire) Oct 20, 2020
According to a study conducted by P & S Intelligence, the global corrugated boxes market is predicted to reach a value of $284.6 billion by 2030, increasing from $180.9 billion in 2019, progressing at a 4.3% CAGR during the forecast period (2020–2030). The key factors contributing to the growth of the market are the increasing need for lightweight and convenient packaging solutions in several industries, expanding e-commerce sector and offline retail sector, and growth of the packaging industry across the globe.
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When board style is taken into consideration, the market is divided into triple-wall, double-wall, single-face, and single-wall, out of which, the single-wall division contributed the major revenue share to the market in 2019. Since these boxes are made up of single-wall corrugated boards, they are light in weight and are suitable for carrying lighter objects. Moreover, they are flexible in nature and therefore, can be converted easily to boxes of different sizes, according to the requirement for different industries.
On the basis of end use, the corrugated boxes market is categorized into transport, textiles, direct mail, wood /timber products, chemicals, glassware & ceramics, tobacco, personal/household care, paper products, beverages, electrical goods, fresh food & produce, and processed food. Among all these, the processed food category is creating high demand for corrugated boxes because of the increasing concerns regarding the freshness and safety of food, majorly during the shipping of bakery & dairy products, canned & frozen food, and grain-based food.
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In the corrugated boxes market, the Asia-Pacific region is expected to witness the fastest growth during the forecast period. The rising awareness regarding the environment, growing focus on sustainable packaging, surging demand for personal care products and electronic goods, and rising e-commerce activities are leading to the growth of the regional domain. Additionally, the rising government initiatives for supporting sustainable developments and easy availability of raw material are leading to growing adoption of corrugated boxes in the region.
The research includes detailed analysis of:
Based on Flute Type
Based on Board Style
- Single-Face
- Single-Wall
- Double-Wall
- Triple-Wall
Based on Box Style
- Slotted
- Telescope
- Folder
- Rigid
Based on End Use
- Processed Food
- Fresh Food and Produce
- Beverages
- Paper Products
- Electrical Goods
- Personal/Household Care
- Glassware and Ceramics
- Chemicals
- Tobacco
- Wood/Timber Products
- Textiles
- Transport
- Direct Mail
About P & S Intelligence
P & S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P & S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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P & S Intelligence
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