Corrugated Packaging Market- North America witnessed 3.4% higher than rest of region Says MRFR

Pune, India, April 3, 2018/MRFR Press Release/- Market Research Future published a half-cooked research report on “Global Corrugated Packaging Market Research Report - Forecast to 2030” Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022 - 2030.

Worldwide Corrugated Packaging Market – Synopsis

Corrugated Packaging Market is the king of packaging material of this era; where ecological concerns are making news headlines every day. This packaging type has proven to be far more effective for protecting goods & fresh produces. Extremely durable, versatile, economical and lightweight Corrugated Packaging material has evaluated for its quality to withstand mechanical stress. 

With its fluting (arched layer) this packaging provides a very high strength to heavy goods as well as to fruit & vegetables, keeping it safe, fresh while maintaining hygiene.  Scientific research has proven that corrugated reduces the risk of microbiological contamination prolonging shelf life by up to three days. Made from up to 85% recycled materials, corrugated packaging material is a great example of the circular economy.

Corrugated packaging is considered important for custom-manufactured shipping containers, packaging and point-of-purchase displays. In addition to the numerous innovative applications, ranging from pallets to children's toys to furniture, market of corrugated packaging enjoys an extensive traction on the global platform.

In addition, factors that drive the market growth include; rising population and growing per capita income that increases consumer’s purchasing power. Growing applications across burgeoning industries especially, personal care, food & beverages, Pharmaceuticals & healthcare, electronic goods, paper industry, etc have contributed a major share in the overall market growth.

Corrugated Packaging is one of the most preferred packaging for small, medium and large sized products which in turn has increased the demand across the globe. Growing ecommerce industry has become the largest consumer of the market, resultantly driving the market growth to an extent. Simultaneously, restricted use of plastic packaging material has become the major reason for the rising demand for the corrugated packaging.

Moreover, government initiatives for promoting eco-friendly packaging materials coupled with the initiatives from CPA (The Corrugated Packaging Alliance), a corrugated industry initiative, with the mission to promote Corrugated Packaging; are providing an added impetus to the growth of global Corrugated Packaging Market.

Worldwide Corrugated Packaging Market – Competitive Analysis

The market of Corrugated Packaging is competitive and fragmented owing to the presence of several big & small market players forming a competitive landscape. Key players are adopting the strategic trend of business expansion in the emerging markets.

Key market players are keen on taking care of ecological norms. In order to manufacture cardboard boxes without affecting the containers’ strength or durability; they reinforce corrugation inside the panels. This resultantly reduces both cost and wastage.

In order to survive and create new markets; manufacturers rely on innovation. Therefore, they keep themselves abreast of the new technological developments and latest consumer trends by developing human capital. They don’t hesitate to continually invest their time & money in to the new age developers for the latest technologies which can increase productivity and add value

Industry/ Innovation /Related News:

March 23, 2018 – Electronics For Imaging (US) a leading global provider for digital printing technology showcased its new technologies for corrugated packaging at 2018 iCorrugated Asia Expo, being held between 21 March and 23 in China. Showcased technologies included C18000 Single-Pass, Escada Corrugator Control; Direct-To-Corrugated LED inkjet corrugated packaging press and Closed-Loop Process Control Software Technologies.

March 20, 2018 – ExxonMobil (Germany) launched its new synthetic lubricant - Mobil SHC™ Grease 462 PF for corrugating machines. The innovation delivers superior bearing protection for corrugator rollers operating at extreme temperatures as 240˚C and in humidity.

Worldwide Corrugated Packaging Market – Segments

For the convenience of the report and enhanced understanding; the market of Corrugated Packaging is segmented in to 4 key dynamics.

By Types                       :  Comprising Slotted boxes, Self-Erecting Boxes / Auto-Bottom Boxes, Bliss / Rigid Boxes & Telescope boxes, etc.

By Applications             : Personal Care, Food & Beverages, Pharmaceuticals & Healthcare, Electronic Goods, Paper Industry, among others.

By Wall Construction   :  Single, Double and Triple-wall corrugated packaging.

By Regions                    :  North America, Europe, APAC and Rest of the World.

Segment - Rigid boxes by types, in 2016 accounted for the largest market share i.e. 29.50% in terms of value. The segment is further estimated to register 6.04% CAGR during the assessment period (2017-2023)

Worldwide Corrugated Packaging Market – Geographical Analysis

North America market in 2016, dominated the global Corrugated Packaging Market with 33.4% share. The region is further expected to grow at 5.69% CAGR during the review period. This growth of the region attributes to the burgeoning e-commerce industry fueled by the increasing cross-border trade and huge demand for online shopping.

On the other hand, Asia-Pacific region, emerging as the fastest growing market of Corrugated Packaging registered 6.39% of a CAGR in 2016. Growing with the lucrative opportunities in packaging industry and growing ecommerce industry in the region, APAC is expected to register a fabulous CAGR during the forecast period.

Key Players:

Archis Packaging India Pvt. Ltd., Mondi Group (US), Smurfit Kappa Group (Ireland) , International Paper Company (Tennessee), Orora Packaging Australia Pty Ltd (Australia), WestRock (US), Georgia-Pacific LLC (Atlanta), KapStone Paper, Europac Group (U.K.), Packaging Corporation (US) and Nefab Group (Sweden) are some of the leading players of the Global Corrugated Packaging Market. Profiling them in its analysis, MRFR explores strategies that keep them at the forefront of competition.

Access Report Details @ Corrugated Packaging Market share