Corrugated box market expects to see rapid growth and trend by 2025
The latest research report presents a highly comprehensive and accurate research study on the global Corrugated Box market. It offers PESTLE analysis, qualitative and quantitative analysis, Porter’s Five Forces analysis, and absolute dollar opportunity analysis to help players improve their business strategies. It also sheds light on critical Corrugated Box Market dynamics such as trends and opportunities, drivers, restraints, and challenges to help market participants stay informed and cement a strong position in the industry. With competitive landscape analysis, the authors of the report have made a brilliant attempt to help readers understand important business tactics that leading companies use to maintain Corrugated Box market sustainability.
Global corrugated box market valued approximately USD 66.9 billion in 2018 is anticipated to grow with a rate of more than 4.6 % over the forecast period 2019-2026. Among the key drivers for the corrugated box market are strong growth in food and beverage industry, recyclability of corrugated boxes, rising e-commerce industry, coupled with increasing spending by consumers for packaged products. Corrugated box market is witnessing significant growth owing to rise in the manufacturing activities. Corrugated box is used as packaging solution to a variety of products thus, growth in various industries is expected to drive the adoption of corrugated boxes over the forecast period. Rising e-commerce industry is significantly driving the demand for corrugated boxes for packaging products such as for optimum protection of product in shipping and handling.
For instance, as per India brand equity foundation, e-commerce sector of India is growing at a significant pace. This sector is expected to reach $120 billion in 2020 as compared to $39 billion in 2017 representing about 51% of annual growth, highest rate globally. Similarly, as per International Trade Administration (United States), China is the world™s largest e-commerce sector that is projected to reach around $1.6 trillion by the end of 2019. Thus, rise in e-commerce industry is thereby supplementing the adoption & growth corrugated box market. Furthermore, emerging economies and advent of shelf-ready packaging technology is expected to create lucrative growth prospects of the corrugated box market across the globe. However, adherence to environmental standards act as a key restraint for the market during the forecast period. Read more