According to the latest market research study released by Technavio, the containerboard market in North America is expected to grow at a CAGR more than 2% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the containerboard market in North America based on end-use:
Containerboard market in North America share by end-use 2015
|
Food and beverage |
44.90% |
|
Non-durable goods |
36.23% |
|
Durable and other goods |
19.63% |
|
Golf bags |
8.23% |
Source: Technavio
The top three contributing end-use segments are discussed below:
Containerboard market in North America by food and beverage products
The food and beverage segment occupied the maximum share of around 45% of the containerboard market in North America and is expected to witness steady growth during the forecast period. The US is a developed economy with high per capita income, which exhibits high affordability of packaged food and drinks. The growing demand for ready-to-eat products and processed food has boosted the need for secure packaging, driving the containerboard market in North America.
“Food and beverages sector is the key leading sector that offers significant opportunities for containerboard vendors. The vendors are using containerboard as an effective market tool to promote their products. Moreover, to provide packaging boxes for fruits and vegetables in different shapes and sizes, vendors are also offering printing solutions for the effective marketing of the products,” says Abhay Sinha, a senior analyst at Technavio.
The change in consumer’s lifestyle has made the consumers shift toward smaller meals rather than a traditional sit-down meal. This has led the snack food items overtake the growth of staple food products, which has increased the demand for containerboard for packaging. There is an increase in the consumption of packaged food such as healthy snack food items, juices, and cereals in Canada. As the market for packaged food and beverages is growing in Canada, the demand for containerboard is also expected to increase over the forecast period.
Containerboard market in North America by non-durable goods
Non-durable goods are products that have a lifespan of less than three years and includes pharmaceuticals, cleaning chemicals, rubber and plastic, cosmetics and toiletries, paper and publishing products, tobacco, and textiles and apparel. The growing market for non-durable products in the US will boost the demand for packaging products, driving the growth of the containerboard market in the region. The market includes other non-food goods such as healthcare products, industrial goods, and flower and florist supplies which are usually not packed in corrugated boxes, but the growing trend of online purchase of medicines and drugs has increased the demand for corrugated boxes from this segment. Besides this, companies make use of corrugated boxes to transport and export pharmaceutical products and even the cosmetic industry is highly dependent on packaging as it is an integral part of the brand image. Containerboard packaging is finding more application in the cosmetic industry as it offers stackability, protection, and graphic printability which is required for the packaging of cosmetics. Vendors offer flexible containerboard packaging solutions for hair care, cleaning products, and other cosmetics. In the pharmaceutical industry, the drugs must be packed to prevent contamination and microbial growth and ensure its shelf life as it may get spoiled during transit. So, the containerboard packaging is used, to keep drugs cold during shipment.
Containerboard market in North America by durable goods and others
Durable and other products requiring corrugated box packaging primarily include electronic, personal care and household, glassware and ceramics, paper products, chemicals, and textile goods. Although corrugated packaging is not necessary for these products, the growth of online retail will increase the demand for corrugated boxes for some products during the forecast period. The electronic goods market in North America is growing at a modest rate. Reduced prices of consumer electronics, coupled with an increase in disposable income, have increased the shipments of electronic goods resulting in an increased demand for containerboard. In North America, consumers often prefer buying electronic goods through online retailing due to the various discount offers and an advantage of comparing the prices, this has led to the increase in demand for containerboard. Glass and ceramic products that are used for decoration are delicate and requires care, containerboards are ideal for packaging these products.
The top leading vendors operating in the containerboard market in North America are:
- International Paper
- WestRock
- Georgia-Pacific
- PCA
- KapStone
Other prominent vendors in the market include Amcor, Buckeye Corrugated, Cascades, Corrugated Supplies Company, Greif, Kruger Packaging, Pratt Industries, Riverside Paper, Shillington Box Company, Stephen Gould, Sonoco Products, and U.S. Corrugated.
A more detailed analysis is available in the Technavio report titled, ‘Containerboard Market in North America 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Honeycomb Paperboard Packaging Market 2016-2020
- Global Sterilized Packaging Market 2016-2020
- Global Thermoformed Packaging Market 2016-2020
- Global Antimicrobial Packaging Market 2016-2020
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