The report presents an in-depth assessment of the Corrugated Board Packaging including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Corrugated Board Packaging investments from 2019 till 2024.
The Global Corrugated Board Packaging Market was valued at USD 251.52 billion in 2018, and is expected to reach USD 325.59 billion by 2024, recording a CAGR of 4.41%, during the forecast period of 2019-2024.
The Corrugated Board Packaging market is highly competitive and consists of a number of major players. Top Companies like Klingele Papierwerke GmbH & Co.ÊKG, Mondi Group, Smurfit Kappa Group, DS Smith PLC, Klabin SA, International Paper Company, Nippon Paper Industries Ltd, Georgia-Pacific LLC, Rengo Co. Ltd, Sealed Air Corporation, Cascades Inc., WestRock Company, Oji Holdings Corporation, Packaging Corporation of America among others.
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Scope of the Report
Corrugated board packaging is a versatile and cost-efficient method to protect, preserve, and transport a wide range of products. Attributes such as light weight, biodegradability, and recyclability, are the advantages of this packaging that make them an essential component in todays modern life.
The market has been segmented by End-user Industry (Processed Foods, Fresh Food and Produce, Beverages, Paper Products, Electrical Products), and Region.
Key Market Trends
Processed Food Segment Expected to occupy Significant Market Share
The demand for convenience foods is on the rise due to the busy lifestyle of people. Hence, processed food, which has a quick cooking time, attracts many consumers. The increasing population also drives the demand for processed food, which is convenient as well as healthy. According to the Bureau of Labor Statistics, the number of employed women in the United States alone has grown from 53.6 million in 1990 to 71.9 million in 2017. These factors are increasing the need to provide high-quality packaged and processed foods to customers.
– As corrugated board packaging keeps moisture away from products and can withstand long shipping times, corrugated board packaging is increasingly being adopted by companies to offer better outcomes to customers, especially as a means of secondary or tertiary packaging.
– Further, innovations in the domain are expanding the scope of applications for corrugated cardboard packaging. Companies such as THIMM Group developed COOLandFREEZE, a box made up of corrugated cardboard for temperature-controlled shipping that enables the joint transport of frozen, chilled and non-refrigerated products within one package.
– This innovative packaging ensures effective insulation and the constant refrigeration of fresh products over a period of at least 36 hours. As this corrugated cardboard packaging is a more sustainable alternative to polystyrene or plastic shipping solutions, the demand for this market is expected to rise rapidly over the forecast period.
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North-America Expected to Show a Significant Growth
North Americas robust financial position enables the region to invest heavily in advanced solutions and technologies. These advantages have provided the regional organizations a competitive edge, in the market. Moreover, the region enjoys the presence of several major corrugated board packaging vendors, such as International Paper Company (United States), Georgia-Pacific LLC (United States) and Sealed Air Corporation (United States), among others.
– Rising awareness among consumers regarding environment-friendly products is expected to drive the demand for corrugated board packaging market in North America over the forecast period. Government initiatives for stimulating eco-friendly packaging materials coupled with the efforts from CPA (The Corrugated Packaging Alliance), a corrugated industry initiative, with the mission to encourage corrugated packaging; are providing an added impetus to the growth of this market.
– According to Asia Pulp and Papers (APP) 2017 Paper & Packaging Consumer Trends, 51% of American consider packaging waste to be a critical environmental issue. Apart from this, e-commerce revenue across all product categories are also likely to reach USD 513 billion by 2021, which will further drive the demand for corrugated board packaging in North America. Almost 95% of the North American consumer goods are transported across the globe in corrugated boxes.
– Many major cities such as California, New York, Washington, Maine and Massachusetts have banned the use of plastics containers and bags and several other single-use non-recyclable products that are harmful for the environment, which in turn, boost the demand for corrugated board packaging.
– However, at a regional scenario, with food chains such as McDonald planning to use 100% recyclable packaging by 2025, manufacturers are choosing to use these opportunities to build consumer trust by proactively addressing the environmental issues than resisting to change. These factors will further augment the demand for corrugated board packaging market over the forecast period.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Corrugated Board Packaging Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2014 to 2019 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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