The global corrugated boxes market generated a revenue of $180.9 billion in 2019, and it is predicted to advance at a CAGR of 4.3% from 2020 to 2030. Furthermore, the market will reach a value of $284.6 billion by 2030, as per the forecast of the market research firm, P&S Intelligence. The market is being driven by the growing requirement for convenient and lightweight packaging solutions and the thriving offline retail and e-commerce industries across the world.
As per the Interpack Emerging Market Outlook, the revenue of the global packaging industry was $839 billion in 2015. The soaring demand for manufactured products such as smartphones, edible goods like candies, and television sets is fueling the requirement for corrugated packaging, due to its excellent structural strength and crush resistance. This is subsequently driving the advancement of the corrugated boxes market, as corrugated boxes are highly recommended for shipping fragile and heavy consumer goods.
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Additionally, the growing popularity of online shopping and on-demand delivery services is also propelling the market expansion around the world. Besides, the booming e-retail sector is also fueling the growth of the corrugated boxes market. In 2019, the e-commerce industry value stood at around $3.5 trillion, with India and China becoming the fastest-growing online retail markets in the world. This is credited to the high internet and smartphone penetration, delivery of delivery ecosystems, and aggressive discount-driven sales of e-commerce companies.
As these boxes are made from single-wall corrugated boards that are lightweight, they are extensively used for carrying light objects. Globally, the corrugated boxes market is predicted to register lucrative growth in Asia-Pacific (APAC) in the upcoming years, primarily because of the easy availability of various raw materials and the increasing implementation of government initiatives for supporting sustainable development in the region. Furthermore, the surging industrial production in China is also driving the expansion of the market in the region.
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Hence, it can be said with surety that the market will register huge expansion in the forthcoming years, primarily because of the expansion of the e-commerce industry, on account of the growing popularity of online shopping, and the boom in the packaging industry across the world.
Market Size Breakdown by Segment
By Flute Type
By Board Style
By Box Style
By End Use
Geographical Analysis
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Corrugated Packaging Market – https://www.psmarketresearch.com/market-analysis/corrugated-packaging-market
Retail E-Commerce Packaging Market – https://www.psmarketresearch.com/market-analysis/retail-e-commerce-packaging-market-analysis
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