Corrugated packaging materials combine cushioning with structural strength to provide superior protection from damage to fragile or heavy contents. Because they are lightweight and clean, they help to save transportation expenses. The high-impact graphics available on corrugated packaging goods contribute to increased brand awareness and, as a result, increased sales. Furthermore, corrugated packaging items are created from recycled card board boxes and other paper sector waste. Corrugated packaging goods have a high reprocessing and recycling percentage, making them an environmentally beneficial packaging alternative.
The global corrugated packaging market was valued at US$ 273.7 Mn in 2018 and is expected to exhibit a CAGR of 3.4%, in terms of revenue over the forecast period (2019-2027), to reach US$ 357.6 Mn by 2027.
As previously said, the booming worldwide e-commerce industry is likely to emerge as the most important growth driver for the global corrugated packaging market. Corrugated packaging goods are increasingly being used by e-commerce enterprises for secure product delivery due to advantages like as low weight, excellent strength, and recyclability. Furthermore, in recent years, the market has seen a steady increase in adoption from the organised retail sector. As the number of supermarkets and hypermarkets expands in emerging economies such as Asia Pacific and Latin America in response to changing consumer lifestyles and increased disposable incomes, demand for corrugated packaging materials is likely to rise.
On the other hand, several issues impede the market's growth prospects to some extent, the most significant of which are the unsuitability of corrugated material for the packaging of a wide range of items and concerns about the durability of corrugated packaging products. It is frequently observed that traditional corrugated packaging goods do not endure harsh indoor and outdoor weather conditions as well as other packaging products, creating damage risks to sensitive or electronic products.
The report segments the global corrugated packaging market on the basis of criteria such as box type, application, and geography. Based on application, the market has been covered for industries such as food and beverages, automotive, health and hygiene, electronics, consumer goods, and pharmaceuticals.
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