The rise in the packaging of food and beverage, coupled with increasing application in pharmaceutical packaging solutions.
NEW YORK, NY, UNITED STATES, September 27, 2021 /EINPresswire.com/ — The global Corrugated Packaging Market is forecast to reach USD 352.47 Billion by 2027, according to a new report by Reports and Data. Corrugated boxes are thick paper material consisting of a compressed layer of paper pulp. It is extensively used for packaging as its easy-to-open and reseal packaging designs provide benefits to the end-users. Besides, it is environmentally friendly and can be recycled. Retailers and product manufacturers also enjoy great benefits from corrugated packaging.
These boxes are used to store and transport products. The most important properties of paperboard, the driving force of the market, are its recyclability, its reusability, and its durability. Also, the growing awareness of ecological conservation makes consumers inclined to use paperboard. Besides, high-resolution graphics and two-sided printing of paperboard can enhance the brand promotion of products. Therefore, various product manufacturers choose it as packaging material.
Rapid urbanization has changed the lifestyle of the people and, in turn, has increased the prevalence of packaging over a broad aspect, thus, augmenting the demand for the market product. The growing awareness among customers for the sustainable packaging material with the reusability of corrugated packaging is fostering the market demand. However, the usage plastics due to its cost-effective, durable, and reusable properties are hampering the market demand.
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The COVID-19 impact:
As the COVID-19 crisis grows, manufacturers are quickly changing their practice and purchasing priorities to meet the required demand of a pandemic, which has cut demand for many forest product segments, majorly corrugated boxes market. Over a couple of months, there will be a series of both positive and negative shocks, as manufacturers and their suppliers respond to providers changing needs. With a poor global situation, the export-dependent economies of many regions look vulnerable.
Further key findings from the report suggest
Rigid boxes have two similar end panels and consists of a body that can be folded from the two side panels, a top, and an unbroken bottom. The flaps are applicable to form the joints. Once these joints are sealed, the box is considered to be rigid. The segment is forecasted to grow with a CAGR of 4.0% during the forecast period.
Single-walled boxes are designed to use only a single layer of fluting. They are used for shipping in the e-commerce sector. These boxes are cost-effective and can provide offer cushioned protection as well as rigidity that is required in a shipping container.
The food and beverage segment is estimated to capture a massive share of the market because of the flourishing of the take-out food consumption and changing lifestyle patterns of individuals. The segment held a market share of 4.7% in the year 2019.
The advent of the use of corrugated packaging backed by various government awareness schemes in nations such as India is creating a demand for the use of these boxes in the packaging market. The Asia Pacific region is forecasted to grow with the highest growth rate in the forecast period due to the rise in the number of people opting for the manufacturing of paperboards.
Key participants include Mondi Group, WestRock Company, International Paper Company, DS Smith PLC, Smurfit Kappa Group, Nine Dragons Paper (Holdings) Limited, Georgia-Pacific Equity Holdings LLC, Oji Holdings Corporation, Lee & Man Paper Manufacturing Ltd., and Packaging Corporation of America, among others.
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For the purpose of this report, Reports and Data have segmented the global Corrugated Packaging Market on the basis of Type, Wall Construction, Application, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Wall Construction Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Food & Beverage
Regional Outlook (Revenue, USD Billion; 2017-2027)
Rest of Europe
Rest of APAC
Rest of LATAM
Rest of MEA
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Key Reasons for Purchasing Global Fresh Food Packaging Market Report:
New approaches and latest development trend that describe the structure of the market
Advanced market breakdown structure
Historical data and future market scope
In-depth market analysis based on statistics, growth stimulators, and market developments
Statistical data representation through figurative, numerical, and theoretical elaboration
Report provides insight of the business and sales activities
Key competitive players and regional distribution will help find prospective market analytics
Report will strengthen the investors’ decision-making processes
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Corrugated Packaging Market Segmentation & Impact Analysis
4.1. Corrugated Packaging Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
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Conclusively, all aspects of the Commodity Plastics market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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Source: EIN Presswire