Product packaging is an essential part of a product life cycle. Consumers’ need for convenient, light weight product packaging has driven the packaging industry to manufacture organized paperboard product packaging solutions with the aim to meet the consumer demands and tap the organized retail industry. The ongoing penetration of e-commerce and retail industry boom have resulted in the increased manufacture of innovative corrugated packaging solutions that contribute significantly to the global corrugated packaging market. Corrugated packaging materials are manufactured from recyclable card board boxes that are eco-friendly. Corrugated packaging market is expected to grow significantly owing to the rapid development of manufacturing sector during the forecast period.
Corrugated Packaging Market: Market Dynamics
Growth of processed food industry owing to increasing consumer demand have resulted into a growth of corrugated packaging market. Corrugated packaging market is majorly driven by the growing e-commerce business. Changing consumer lifestyle patterns have boosted up the growth of e-commerce business wherein, the manufacturers have widely adopted the use of corrugated packaging to ensure safe product delivery, thereby escalating the growth of global corrugated packaging market. Moreover, the organized retailing have a significant contribution to the increasing demand for global corrugated packaging market. The need for preserving the product shelf life, retailers store products in corrugated boxes thereby fueling up the demand for corrugate packaging market.
However, corrugated packaging market witnesses few restraints that hinders the market growth. The major drawback of corrugated packaging is its durability factor. Corrugated packaging is incapable of withstanding harsh indoor and outdoor conditions and might cause damage to delicate products such as electronics, or fragile products made of glass and others.
Corrugated Packaging Market: Market Segmentation
Corrugated packaging market can be segmented on the basis of corrugated box types which includes:
- Slotted Box
- Folder Box
- Telescope Box
- Rigid Box
Corrugated packaging market can be segmented on the basis of application which includes:
- Food & Beverage
- Health & Hygiene
- Other Consumer Goods
On the basis of corrugated box types the corrugated packaging market can be segmented into slotted box, folding box, telescope box, rigid box and others. Out of these boxes, rigid boxes and folding boxes and folding boxes are widely used by e-commerce and retail sectors. Corrugated packaging can be segmented on the basis of application which includes food and beverage industry wherein, corrugated packaging is used for products like fruits and vegetables, liquid bottles (juice bottles, water bottles), processed food such as readymade soups, pizzas and others, bakery and confectionary products such as cakes, chocolates and biscuits and others. Corrugated packaging is also used in automotive and electronic industries for delicate components. Pharmaceutical and health and hygiene industry has a wide application of corrugated packaging for shipping and storing medicines, cosmetics and other consumer goods.
Corrugated Packaging Market: Regional Outlook
Regional coverage for corrugated packaging market includes North America, Latin America, Europe, Asia Pacific and China (APAC) and Middle East and Africa (MEA). North America accounts for a higher market share in corrugated packaging market as compared to other regions owing to the prominence of e-commerce business and retail sector, followed by Latin America and Europe which contributes significantly to the global corrugated packaging market growth. Steady growth in e-commerce business and food and beverage industry in APAC offers a potential opportunity for the corrugated packaging market to boom during the forecast period. MEA region is expected to grow significantly in terms of global corrugated packaging market.
Corrugated Packaging Market: Market Players
Players operating in the global corrugated packaging market include U.S Corrugated Inc., Georgia- Pacific, Smurfit Kappa Group, DS Smith, Mondi Group and others.
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