The report "Corrugated Boxes Market by Material (Linerboard, Medium), Printing Ink (Water-Based, Solvent-Based, UV-Curable, Hot Melt-Based), Printing Technology (Digital, Flexography, Lithography), Type (Slotted, Telescope) - Global Forecast to 2021", The corrugated boxes market size is projected to grow from USD 63.29 Billion in 2016 to reach USD 76.76 Billion by 2021, at an estimated CAGR of 3.94%.
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Forecast to 2021"
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The global corrugated boxes market is driven by factors such as recyclability of corrugated boxes, strong growth in the food & beverage and electronic goods industries, and increase in the spending by consumers for packaged products. Rising e-commerce industry and increasing demand for packed product present a great opportunity for this market to grow in future. The corrugated boxes market is witnessing demand owing to the rise in manufacturing activities. However, factors such as greenhouse gas emission during production and rising raw material cost inhibit the growth of the market.
Food & beverage is estimated to be the largest segment during the forecast period
The food & beverage segment is projected to be the largest market in the next five years. The demand from the food & beverage sector is expected to experience a higher growth rate, mainly because of the growing demand for packaged and branded products, and consumer awareness toward the safe packaging of the product. Beverage manufacturers widely use corrugated boxes owing to the safe shipment they offer.
Digital printing is estimated to be the fastest-growing printing technology during the forecast period
Corrugated boxes market, by printing technology, is classified into digital printing, flexography printing, lithography printing, and others (gravure, screen, and offset printing). The digital printing segment accounted for the fastest-growing segment in 2015 with its numerous benefits such as high-quality, time-saving, and cost-effective solution for manufacturing corrugated boxes. Digital printing also uses ink-jet printing to print images on uneven and thicker substrates.
Asia-Pacific projected to attain the largest share in the corrugated boxes market
Asia-Pacific with emerging economies like China and India will drive the corrugated boxes market. China is projected to have the largest market share and dominate the Asia-Pacific corrugated boxes market from 2016 to 2021. Developing markets such as China and India are emerging as growth economies for corrugated boxes. Growing economies, the increasing population, and the resultant disposable income of people are acting as the main drivers for increased opportunities in these countries.
The major players include Mondi Group Plc (South Africa), International Paper Company (U.S.), WestRock Company (U.S.), DS Smith Plc (U.K.), Smurfit Kappa Group (Ireland), and Rengo Co. Ltd. (Japan). Companies have adopted mergers & acquisitions to cope with the increasing demand in the emerging markets.
The scope of the report covers detailed information regarding the major factors influencing the growth of the corrugated boxes market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products & services, key strategies, and recent developments associated with the market. The corrugated boxes market is segmented by material, type, printing inks, printing technology, end-use industry, and region.
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