Global corrugated boxes market is expected to grow at a compound annual growth rate of 4.36% over the forecast period to reach a market size of US$91.182 billion by 2024 from US$70.573 billion in 2018. Corrugated boxes are made of corrugated paper and are used for packaging of products which require transportation and storage. The growing demand for safe and efficient packaging is expected to be a key driver for the corrugated boxes market. Further the rising demand and preference from various industries such as food & beverage, electronics and pharmaceuticals is anticipated to boost the market for corrugated boxes. Furthermore, the growing e-commerce and logistics industry in countries like India and China is projected to augment growth opportunities for the corrugated boxes market in the upcoming years. However, presence of other protective packaging alternatives like plastic boxes are expected to hamper the market growth from growing to its full potential. Geographically, Asia-Pacific is expected to be a prominent region on account of the growing economies like India and China coupled with the increasing food & beverage industry.
Growing demand for safe and efficient packaging.
Increasing food & beverage sector.
Presence of alternatives
In November 2018, WestRock Company a leading provider of differentiated paper and packaging solutions, acquired KapStone Paper and Packaging Corporation with an aim to enhance their product portfolio.
The major players profiled in the Corrugated Boxes market include DS Smith PLC, WestRock Company, Sonoco Products Company, Smurfit Kappa Group, Georgia Pacific LLC, Mondi plc, Packaging Corporation of America.
The Corrugated Boxes market has been analyzed through the following segments:
Food and Beverage
Middle East and Africa
Frequently Asked Questions (FAQs)
Q1. What will be the global corrugated boxes market size by 2024?
A1. Global corrugated boxes market is expected to reach a total market size of US$91.182 billion in 2024.
Q2. What are the growth prospects for corrugated boxes market?
A2. The global corrugated boxes market is expected to grow at a compound annual growth rate of 4.36% during the forecast period.
Q3. Which region holds the largest market share in the corrugated boxes market?
A3. Geographically, Asia-Pacific is expected to be a prominent region on account of the growing economies like India and China coupled with the increasing food & beverage industry.
Q4. What is the size of corrugated boxes market?
A4. The corrugated boxes market was valued at US$70.573 billion in 2018.
Q5. What factors are anticipated to drive the corrugated boxes market growth?
A5. The growing demand for safe and efficient packaging is expected to be a key driver for the corrugated boxes market.