The corrugated boxes market is set to observe steady growth during the forecast period of 2017-2022. Logistic applications are expected to boost the growth rate of the corrugated boxes market. This is because of the growing demand for essential products including food, pharmaceuticals, tissue and hygiene products, and other consumer products due to the COVID-19 pandemic.
The global corrugated boxes market displays a highly consolidated market landscape, reports
Transparency Market Research. It is characterized by the presence of numerous players holding
dominance over the market. Prominent players in the market include Pratt Industries, International
Paper Co., WestRock Co., and DS Smith Plc. These companies are focusing on foraying the regional
markets by strategically acquiring the regional companies. Moreover, they are expanding their reach
in the market by setting up new manufacturing units.
According to TMR analysts, the global corrugated boxes is expected to display steady growth rising
at a 3.6 %. CAGR during the forecast period which is 2017 to 2022. The market is anticipated to
attain the valuation of US$ 115.15 bn by the end of the forecast period.
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On the basis of material, the global corrugated boxes market is segmented into recycled fiber and
virgin fiber. Among these, the recycled fiber segment leads the market in terms of demand owing to
focus on sustainable environment. Favorable regulatory policies are also attributable to the growth
of this segment
Based of geography, the global corrugated boxes market is segmented into Asia Pacific, Europe,
North America, and Rest of the World. Of them, Asia Pacific shows leading growth in the market
during the forecast period. This is mainly due rapid urbanization and an increase in the population.
High Demand from End-use Industries to Fortify Growth
Packaging plays a significant role in numerous industrial sectors, food and beverages, healthcare and
electronics to name a few. This is one of the key factors driving the growth of the global corrugated
boxes market. Another factor boosting the market’s growth is the booming e-commerce sector.
Corrugated boxes are extensively used to package the goods purchased online.
Corrugated boxes are highly recyclable and available at low costs. Moreover, govern