Corrugated Board Packaging Market
Cardboard packaging is a cutting edge packaging material that is created to accomplish assurance, packaging, and dispatch of different items. In recent years, there has been a continuous shift among the purchasers towards lightweight packaging. Accordingly, organizations operating in the packaging area are developing interest toward offering creased board packaging arrangements, thereby driving this market.
A significant rise has been noticed in the growth rate of corrugated board packaging across different mechanical areas on account of its multiple properties such as biodegradable nature, recycling ability, and bio based. The growing inclination of the purchasers towards lightweight, has urged the packaging area to give folded board packaging arrangements on the lookout. It means to investigate the coordinated retail industry and satisfy the rising requests from the clients. Since corrugated boards are biodegradable, bio-based, and recyclable, the necessity for these sheets is anticipated to extend a critical development in the folded board packaging market in future.
Notable change with regard to changing consumer preference on account of the ecological concerns is influencing the growth rate of the corrugated board packaging market positively. Other factors such as rapid urbanization, rising selection of an alternate way of life, food propensities, and patterns, are further propelling the demand for processed food category as well. This subsequently, has propelled the significance of food nourishment for the consumers, boosting the development of worldwide corrugated board packaging market in future.
Corrugated Board Packaging Market - Outline
Corrugated board packaging refers to advanced packaging material that is developed to achieve protection, packaging, and dispatch of various products. Over the period of past few years, there is gradual shift among the buyers towards adopting lightweight packaging. As a result, companies engaged in the packaging sector are growing interest toward offering corrugated board packaging solutions.
In recent few years, there is substantial growth in the adoption of corrugated board packaging across varied industrial sectors. This scenario is owing to diverse advantages of corrugated board. Some of the key advantages include bio-based, recyclable, and biodegradable nature of the product. On the back of all these factors, the global corrugated board packaging market is foreseen to gather promising sales avenues in the years to come.
Major players in the global corrugated board packaging market are increasing interest toward expanding their businesses and boosting their revenues. As a result, they are seen participating in various strategic moves such as partnerships, collaborations, and joint ventures. Moreover, several market players are more concentrated toward the research and development activities. This tactic is helping enterprises to enrich the quality of their products. Due to presence all these activities, the global corrugated board packaging market is slated to garner sizeable growth avenues in the years ahead.
Corrugated Board Packaging Market: Introduction
Corrugated board packaging is an advanced packaging material developed to protect, pack, and dispatch the products. The increasing shift of the buyers towards lightweight, has encouraged the packaging sector to provide corrugated board packaging solutions in the market. It aims to explore the organized retail industry and fulfil the rising demands from the customers. Since the corrugated board is biodegradable, bio-based, and recyclable, the requirement for these boards is foreseen to project a significant growth in the corrugated board packaging market in future.
Corrugated Board Packaging Market: Novel Development
- Further, a recent report by the University of Bologna demonstrated that corrugated board keeps sustenance new as long as three days longer, by decreasing tainting, in this way driving the reception of corrugated board for packaging process. In addition, FEFCO/ESBO International Good Manufacturing Practice' (GMP) Standard has additionally affirmed that corrugated board items fulfill all necessities of the sustenance business, as far as quality, wellbeing, and cleanliness.
- Packaging box producers, for example, Mondi, are taking measures to lessen the heaviness of the packaging given, and receiving corrugated boxes. The organization propelled ProVantage, a high-fiber compartment board produced using reused fiber, and provide lightweight and high packaging quality.
- Driving retailers, for example, Walmart, have additionally plot forceful manageable packaging objectives at the World Economic Forum, to move in the direction of utilizing 100% reusable or compostable packaging, by 2025 or even before. These activities are anticipated to offer ample of scope for the development of the corrugated board packaging market, over the forthcoming yearse. Nonetheless, issues identified with unpredictable crude material costs are assessed to challenge the development of the market examined.
- In April 2017, a firm, Rengo Co., Ltd. based in Kita-ku, Osaka, announced about a Thai Containers Group Co., Ltd. (TCG), which is a joint venture among SCG Packaging Public Company Limited (a subsidiary of The Siam Cement Public Company Ltd.) and Rengo, has acquired around 80% of stake in PT Indocorr Packaging Cikarang. It is a key manufacturing firm of corrugated board packaging operated in eastern Jakarta.
- During April 2019, Cascades Inc. contributed USD 80 million on the development of another containerboard packaging plant in New Jersey, the United States. This new plant is ready to make corrugated packaging items, and the entire yearly production capacity of this plant would be 2.4 billion square feet.
The key players operating in the global board packaging market are Kappa Group, International Paper Company, Klabin SA, Rengo Co. Ltd, Georgia-Pacific LLC, Sealed Air Corporation, Nippon Paper Industries Ltd, Europac Group, Cascades Inc., Amcor Limited, Klingele Papierwerke GmbH & Co. KG, and so on.
Corrugated Board Packaging Market Dynamics
Rising Preference for Environmental Issues to Contribute in Market Growth
Change in customers’ preferences with respect to environmental concerns is affecting the demand positively in the global corrugated board packaging market. Because of rapid urbanization, rising adoption of a different lifestyle, food habits, and trends, the demand in processed foods sector is rising as well. This as a result, is churning the importance of high-quality food for the consumers, augering the growth of global corrugated board packaging market in future. As corrugated board packaging protects the product from moisture and survives long shipping durations. This also provides improved results to the buyers. This is another aspect to support corrugated board packaging market growth.
North America to Lead Globally Due to Strong Financial Hold
Regionally, North America is known for its strong financial state which makes the region to invest significantly in advanced technologies and solutions. These benefits have enabled the regional firms to have a competitive edge across the global corrugated board packaging market. In addition, the region also has the presence of huge number of manufacturers dealing in corrugated board packaging, for example, Georgia-Pacific LLC (United States), International Paper Company (United States), Sealed Air Corporation (United States), and so on.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.