Sep 22, 2017   SOURCE: BusinessWire

Corrugated Box Market - Strong Demand From India and China to Boost Market Growth, Says Technavio

The global corrugated box market is expected to grow at a CAGR of over 6% during the forecast period, according to Technavio’s latest market research.

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Technavio has published a new report on the global corrugated box market from 2017-2021. (Graphic: B ...

Technavio has published a new report on the global corrugated box market from 2017-2021. (Graphic: Business Wire)

In this market research report, Technavio covers the market outlook and growth prospects of the global corrugated box market for 2017-2021. The report segments the market by end-user, including food and beverage products, non-durable products, and durable and other products.

Technavio’s research analysts segment the global corrugated box market into the following regions:

  • Americas
  • APAC
  • EMEA

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Americas: largest corrugated box market

The corrugated box market in the Americas will grow steadily during the forecasted period. The lightweight and biodegradable attributes of these boxes are contributing to their rise in demand. The increase in import and export activities in the market in the Americas is driving the requirement for superior packaging, which is contributing to the growth of the global market.

According to Sharan Raj, a lead analyst at Technavio for research on packaging, “The growth of e-commerce and the organized sector is also driving the growth of the market in the Americas. Also, the demand for sustainable packaging will boost the requirement for corrugated boxes, which is recyclable. Moreover, corrugated boxes come in different shapes and dimension to meet various packaging requirements.”

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Corrugated box market in APAC

India and China are the major drivers for the growth of the corrugated box market in APAC. Rapid urbanization, rising consumption levels, increasing disposable income, and economic growth above that of the world average are some of the major factors that have contributed to the growth of the packaging market in the region. Home to 42% of the world’s population, the market will experience moderate growth over the forecast period.

“The growth of the market in developing economies such as China and India will be because of applications of corrugated boxes across industries such as healthcare, home care, personal care, and retail. At present, there is a rising trend of using sustainability and eco-friendly products. Corrugated boxes being sustainable and eco-friendly in nature will contribute to the growth of the market in the region with many countries pushing for sustainable packaging over plastic ones,” says Sharan.

Corrugated box market in EMEA

The stagnant economic growth, recession-hit consumers, and the saturating demand for many retail products in Europe are hindering the growth of this market in the region. Also, the ongoing crisis in the Middle East and certain European countries such as Portugal, Italy, Greece, and Spain have affected the market.

However, the increasing demand for food and beverages (especially in the alcoholic beverages segment) in both Western and Eastern Europe are projected to have a positive effect on the market during the forecast period. The demand for frozen foods is high in MEA because of the increased consumption of perishable items such as halal meat. This will increase the demand for frozen food packaging in the region, thereby, increasing the use of corrugated boxes. Some of the countries that contribute to the high demand for corrugated boxes as packaging material are the UAE, South Africa, Iran, and Israel.

The top vendors in the global corrugated box market as highlighted in this market research analysis are:

  • International Paper
  • KapStone
  • Mondi
  • Packaging Corporation of America
  • WestRock

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