Corrugated Boxes Industry size is expected to register 3% CAGR between 2023 and 2032 propelled by growing demand for sustainable packaging.
Selbyville, Delaware, June 03, 2024 (GLOBE NEWSWIRE) — Corrugated Boxes Market size is anticipated to exceed USD 99 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
The rapid expansion of the e-commerce sector is fueling the demand for corrugated packaging as it provides durable and cost-effective solutions for shipping and handling products. The increasing environmental awareness is driving the preference for recyclable and sustainable packaging materials, further enhancing the appeal of corrugated boxes. As per the Census Bureau of the Department of Commerce, the total e-commerce retail sales in the U.S. for the first quarter of 2024 were projected at USD 1,820 billion. This increasing sales of goods through retail channels is escalating the demand for corrugated boxes for providing sustainable packaging solutions.
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Moreover, the expanding food and beverage (F&B) sector is necessitating secure and hygienic packaging for transport and storage. Significant advancements in printing and customization technologies are improving branding and product differentiation, making corrugated boxes more attractive to businesses. The rise in consumer goods manufacturing and retail activities globally is also spurring the demand for corrugated packaging solutions.
Corrugated folder boxes to garner high demand
The folder boxes segment of the corrugated boxes market is projected to witness substantial growth between 2023 and 2032. The versatility and ease of assembly of folder boxes makes them ideal for various industries, including e-commerce and retail. On account of their lightweight yet sturdy nature, these boxes ensures efficient product protection with reduced shipping costs. The growing demand for customizable packaging solutions for branding purposes is further driving the segment growth.
Lithography printing segment to accumulate significant share
Corrugated boxes market from the lithography printing technology segment is estimated to grow at notable rate through 2032, owing to its ability to offer high-quality, detailed, and vibrant print results with improved product appeal and brand visibility. The ability to print complex designs and color gradients is making corrugated boxes ideal for premium packaging. Of late, significant developments in lithographic technology have improved efficiency and cost-effectiveness, further turning it more accessible for manufacturers. The growing demand for visually appealing and customized packaging solutions will also accelerate the technology demand.
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North America to generate significant revenue growth
North America corrugated boxes market is estimated to grow at a significant rate from 2023 to 2032. The booming e-commerce sector in the region is increasing the demand for durable shipping solutions. The heightened environmental awareness is driving the preference for recyclable packaging. The growth of the F&B sector is making way for secure packaging, further fueling the product demand. The advancements in customization and printing technologies along with the rise in manufacturing and retail activities will drive the regional market progression.
Corrugated Boxes Market Participants
Some of the leading firms operating in the corrugated boxes industry include Mondi Group, International Paper, WestRock Company, DS Smith, Smurfit Kappa group, Rengo Co., Ltd, and Cascades Inc. These market players are adopting numerous corporate development strategies, like mergers & acquisitions, collaborations, and launching new products to increase their global footprint. For instance, in September 2023, Coca-Cola introduced 100% recyclable cardboard and paper packaging for 1.5-liter multipacks of Coca-Cola, Fanta, and Sprite in Austria. This new packaging, easy to carry and recycle, will save about 200 tonnes of plastic annually in Austria.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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