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Global Corrugated Packaging Market to Reach US$ 357.6 Mn by 2027 - Coherent Market Insights
The global corrugated packaging market is expected to witness significant growth during the forecast period, owing to growth of the e-commerce sector across the globe
Among product type, boxes segment held dominant position in the corrugated packaging market in 2018, accounting for approximately 49.8% of the global corrugated packaging market and is expected to maintain its dominance over the forecast period. Boxes are highly customized and are most preferred choice for transporting products by goods manufacturers. This is expected to increase demand for boxes during the forecast period. However, in manufacturing sector, crates and octabins are gaining traction, owing to its less impact on the environment and recyclability.
Among end use, transportation & logistics segment is expected to hold dominant position in the global corrugated packaging market, owing to increasing demand from B2B e-commerce. According to the United Nations Conference on Trade and Development (UNCTAD), global e-commerce sales grew by 13% in 2017, with an estimated sales of US$ 29 Tn. Also, B2B e-commerce sales continued to dominate the e-commerce total sales, accounting for around 88% of global e-commerce sales. The B2B e-commerce sector is expected to drive demand for corrugated packaging during the forecast period. E-commerce has raised the durability and accountability of corrugated packaging, as more and more boxes are delivered to offices and homes successfully. This trend is expected to grow continuously, owing to consumer transition from brick & mortar stores to online shopping.
Corrugated packaging is essential to protect goods & products. However, corrugated packaging is not compatible with very heavy products and may get deformed under high pressure. Also, corrugated packaging is certainly not the best choice for adverse conditions such as weatherproofing, that is, it can be certainly affected by water and similar products as it gains moisture readily. These factors are expected to hamper growth of the global corrugated packaging during the forecast period.
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International Paper Company, West Rock Company, DS Smith Packaging Limited, Mondi Group, Nefab Group, Georgia -Pacific, Smurfit Kappa, Stora Enso, Packaging Corporation of America, and Graphic Packaging International, LLC.
The global temperature-controlled packaging solutions for pharmaceuticals market has witnessed an increase of demand in recent few years, owing to the rising growth of pharmaceuticals industry in emerging economies. Pharmaceuticals companies are encouraging the usage of temperature-controlled packaging solutions as they provide better performance than conventional insulating materials by reducing the weight and volume of the cold source required and maintaining the thermal conditions according to the requirements.
Europe's biodegradable foodservice disposable market is driven by the rise in concerns over the environmental damage caused by excessive consumption of plastic based disposables. Initiatives are taken by governments across the region to encourage the usage and production of disposables made from natural raw materials which in turn is expected to fuel the market growth.
The market is expected to grow substantially in terms of revenue owing to the increase in demand for efficient packaging among companies for meat, poultry & seafood products. These products are one the most easily perishable food products because of their high nutritional value and high moisture content. Carbon dioxide is usually preferred by the companies to increase the shelf-life of the food products.
Global Molded Fiber Pulp Packaging production is dominated by Tray type molder fiber packaging which accounts for the largest volume share in the global molded fiber pulp packaging market followed by clamshell & containers, boxes and end caps respectively. Tray type pulp packaging is mostly used in food and beverage industry for protective packaging applications. For example, tray type molded fiber pulp packaging is widely used to protect eggs from cracking.
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