Corrugated Packaging Market

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CORRUGATED PACKAGING MARKET ANALYSIS

• Corrugated Packaging Market, by Board Type
  (Single Face, Single Wall, Double Wall, and
  Triple Wall), by Product Type (Boxes, Crates,
  Octabins, Pallets, and Others), by End Use
  (Electronics and Electrical, Home Care Products,
  Food Beverages, Personal Care Products,
  Transportation Logistics, Healthcare, and
  Others), and by Region (North America, Latin
  America, Asia Pacific, Europe, Middle East, and
  Africa) - Size, Share, Outlook, and Opportunity
  Analysis, 2019 - 2027

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• Corrugated packaging is manufactured using a
  corrugated paperboard that encloses multiple rows
  of air columns. The air columns between the
  papers make these packaging stronger than usual
  cardboard packaging. In corrugated packaging, the
  air acts as a cushion for products placed inside
  them. The ridges in the paperboard offer
  flexibility and strength, as required in
  packaging.
• Growth of e-commerce sector is expected to
  increase demand for corrugated packaging. Also,
  rising acceptance of retail-ready packaging is
  gaining traction, owing to its advantage of
  saving time in managing products. Retail-ready
  packaging has gradually become common in
  developed countries due to labor cost and time
  savings it offers. Corrugated packaging is a
  sustainable and low cost option when compared to
  its counterparts such as plastic containers. This
  is expected to result in increasing demand for
  corrugated packaging from the packaging sector.
• E-commerce sector is continuing to propel during
  the forecast period. The exponential growth of
  complex logistics chain for direct to door
  delivery of e-commerce packages is expected to
  drive the demand of corrugated packaging. It is
  due to the factor that corrugated packaging can
  standard distribution of products better than
  normal packaging. This concludes that there is
  rising demand for economic and cost-effective
  corrugated packaging.

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• Also, rising trend of usage of corrugated boxes
  as secondary packaging by various manufacturing
  companies to enhance their brand image among the
  consumers when they unpack their products is
  expected to drive the growth of the corrugated
  packaging. These factors let packaging converters
  to manufacture top quality corrugated packaging
  to cater to the changing packaging need during
  the forecast period.
• E-commerce sector introduced a concept of
  fit-to-product packaging and a concept of
  box-on-demand packaging. The demand for
  fit-to-product type corrugated packaging is
  majorly driven by the e-commerce sellers. The
  e-commerce service providers can choose the
  right-sized box so that the packaging would
  perfectly fit the product, enhanced consumer
  appeal and appearance of product, and also, it
  saves packaging material. These factors are
  likely to increase demand for corrugated
  packaging during the forecast period.
• Moreover, annual test carried out in the U.S. has
  verified the cleanliness of corrugated shipping
  containers. The test was carried out by the Fiber
  Box Association (FBA) and its member company. The
  laboratory analysis and sampling were performed
  by a laboratory based in California. The study
  showed that no micro-organisms were found on 90
  of the tested corrugated shipping containers.
  This study is likely to increase demand for
  corrugated packaging during the forecast period.

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Figure 1. Global Corrugated Packaging Market
Share (), By Region, 2018
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• Companies operating in the global corrugated
  packaging market are focusing on adopting various
  strategies to offer innovative and sustainable
  products. The technological advances are made in
  the packaging manufacturing permits the
  corrugated package to offer marketing
  functionality, which means it can help in
  branding and promotion of products. It is owing
  to the fact that digital printing technology and
  capabilities have evolved dramatically during the
  last decade.
• The global corrugated packaging market was valued
  at US 273.7 Mn in 2018 and is expected to
  exhibit a CAGR of 3.4, in terms of revenue over
  the forecast period (2019-2027), to reach US
  357.6 Mn by 2027.

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Figure 2. Global Corrugated Packaging Market
Share (), By End Use, 2018
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• Asia Pacific accounted for the largest revenue
  share of 46.5 in the global corrugated packaging
  market in 2018, followed by North America and
  Europe. In Asia Pacific, economies such as China,
  South Korea, and India are expected to exhibit
  significant growth in the corrugated packaging
  market over the forecast period, owing to
  exponential growth of logistics and
  transportation, majorly driven by the e-commerce
  industry. For instance, the e-commerce industry
  in China is growing and is expected to grow
  further during the next decade. According to the
  China E-commerce Report, Chinas total e-commerce
  transactions crossed around US 4.2 trillion in
  2016. Similar trends are followed in the Indian
  e-commerce industry as well. These factors are
  expected to drive demand for corrugated packaging
  during the forecast period.

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• Among end use, electronics electrical segment
  is expected to witness highest growth rate during
  the forecast period. However, transportation
  logistics segment is expected to hold dominant
  position in the corrugated packaging market
  during the forecast period, owing to rising need
  for transporting products from one place to
  another, majorly catered by B2B distribution
  channel.
• Major players operating in the global corrugated
  packaging market include International Paper
  Company, West Rock Company, DS Smith Packaging
  Limited, Mondi Group, Nefab Group,
  Georgia-Pacific, Smurfit Kappa, Stora Enso,
  Packaging Corporation of America, and Graphic
  Packaging International, LLC.

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