Corrugated box packaging: Key market research findings
- Rising demand for premium packaging
- Growth of processed food packaging
Technavio has released a new market research report on the global corrugated box packaging market, to its packaging portfolio. The global corrugated box packaging market is expected to grow at a CAGR of 5% between 2016 and 2020. The increased demand from the e-commerce industry is driving the growth of this market where effective packaging is fast becoming one of the key business requirements. The Americas dominate the global market for corrugated box packaging, accounting for 41% of the overall market share. The US is the largest market for corrugated boxes in this region due to the increase in cross-border trade and huge demand for online shopping.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, corrugated boxes are used as effective marketing strategies for various products. Manufacturers are using printed designed small-corrugated boxes at the point of sale in retail stores. Retail giants such as Walmart are using this form of packaging in the premium brand segment to improve their marketing activities. These boxes contain different products and are placed at the point of sale, thus attracting consumers,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
The growth of the processed food industry is expected to contribute to the market growth during the forecast period. The packaging of processed food requires secure and flexible packaging material, which is convenient to the customer and also ensures product safety. As consumers look for convenient, easy-to-use, and lightweight packaging, innovative paperboard packaging solutions are being developed by packaging manufacturers to tap the growing organized retail and processed food market.
The key players in the global corrugated box packaging market include Mondi, Georgia-Pacific, International Paper, Rock-Tenn, and Smurfit Kappa. The market is highly fragmented with the presence of numerous local and international suppliers. Vendors in this market compete on the basis of product differentiation, portfolio, and pricing. Companies are expanding their business by setting up new manufacturing plants and launching new products in the emerging markets. Market analysts anticipate a stiff pricing competition among vendors during the forecast period owing to the influx of new providers in this market.
A more detailed analysis is available in the Technavio report, Global Corrugated Box Packaging Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
