Corrugated box manufacturers are invested in strengthening distribution networks to keep up with the need for restocking inventories of essential commodity producers for the duration of the covid-19 crisis.
DUBAI, UAE / ACCESSWIRE / August 13, 2020 / The corrugated boxes market is anticipated expand at a moderate 4.3% CAGR between 2018 and 2028. The industry is likely to witness steady demand throughout the crisis period, owing to massive demand from the essential goods sectors including food & beverages, pharmaceuticals, and other FMCG goods producers. Demand for corrugated boxes is likely to continue growing even after the end of the pandemic, as restrictions on non-essential industrial sectors are removed.
"As consumers display greater bias towards better product protection, efficiency in labeling and branding along with sustainability, corrugated boxes have become essential for operations in the e-commerce sector, which will contribute to revenue streams through the forecast period," states the FMI analyst.
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Corrugated Boxes Market- Critical Takeaways
- Fit to product box on demand systems will generate substantial demand, owing to demand for customized secondary packaging.
- Corrugated boxes manufactured from recycled fibers are gaining traction, supported by sustainability initiatives across the packaging sector.
- Asia Pacific is displaying major growth in the corrugated boxes market supported by high international trade and ecommerce activity.
Corrugated Boxes Market- Drivers
- Massive growth of ecommerce retail sector is a major factor contributing to demand for corrugated boxes.
- Rising importance being given to secondary packaging for rigorous handling requirements in logistics will support adoption.
Corrugated Boxes Market- Restraints
- Poor endurance to heavy mechanical stress limits the application of corrugated boxes.
- Corrugated boxes are often not resistant to moisture, which restrains adoption in select applications.
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Coronavirus Impact on Corrugated boxes Market
Corrugated boxes manufacturers continue to focus on production operations to keep up with the requirements of packaging for essential products including pharmaceutical, personal care products, and food. The corrugated packaging industry has been recognized as essential by government bodies around the world. On the other hand, the coronavirus has been found to survive for days on board materials, which are also used to produced corrugated boxes limiting short term prospects.
Competitive Landscape
Shanghai DE Printed Box, Smurfit Kappa Group plc, A.D. Incorporated of Milwaukee, International Paper Co., Bee Packaging, WestRock Co., Shillington Box Co. LLC, Georgia Pacific LLC, Wertheimer Box Corp., Pratt Industries Inc., and Acme Corrugated Box Co., are some of the leading manufacturers of corrugated boxes.
Corrugated box manufacturers have been observed to invest resources in expansion of facilities and production capacities through strategic acquisitions and expansion of existing assets.
For instance, Indiana based Welch Packaging has announced the acquisition of Excel Display and Packaging to boost corrugated box and digital printing portfolios. Astron Paper & Board Mill Ltd has received approval from the government to open a new corrugated packaging production unit in Gujarat India. Similarly, Gulf Packaging has opened a new sustainable corrugated packaging facility in Alabama.
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About the Study
The study offers readers an assessment of the corrugated boxes market. Global, regional and national-level analysis of the latest trends influencing the corrugated boxes market is covered in this FMI report. The study provides insights according to board type (single face, single wall, double wall, and triple wall), material (virgin and recycled containerboard), grade (liner and fluting), product type (slotted, folder, telescope, and die cut), and end use (food, beverages, electrical & electronics, textile & apparel, tobacco, e-commerce, building & construction, homecare, automotive, healthcare, personal care & cosmetics, and chemicals & fertilizers) in seven regions (North America, Latin America, Eastern Europe, Western Europe, Japan, Asia Pacific excluding Japan, and MEA).
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SOURCE: Future Market Insights