Corrugated boxes are environment friendly packaging materials. The corrugated boxes are light weight and protects the packaged products from damage. The corrugated boxes have high application in packaging industry. The packaging industry are using corrugated boxes owing to the increasing demand for protecting packaged products.
The global corrugated boxes market is expected to witness significant growth on account of increasing e-commerce industry coupled with rising demand for online shopping, thereby driving the demand for corrugated boxes. Additionally, the rising disposable income of the population in various countries is driving the corrugated boxes market during the forecast period.
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According to United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), in 2015 the share of e-commerce in regional GDP is 4.5% in Asia Pacific, 2.6% in Europe, 3.1% in North America and 0.8% in Latin America. This is expected to drive the corrugated boxes market during the forecast period. The corrugated boxes market is anticipated to record a CAGR of 4.5% over the forecast period. The Corrugated boxes market is expected to reach a value of USD 156 billion at the end of the forecast period.
Increasing urbanized population coupled with the rising demand for online shopping is driving the corrugated boxes market. The rising disposable income and rapidly expanding E-commerce industry is expected to boost the market growth of corrugated boxes during the forecast period. Additionally, rising purchase of food and beverage and electronics products through
The rising demand for the electronic goods is expected to propel the market growth of corrugated boxes during the forecast period. Additionally, rapidly expanding e-commerce industry is facilitating the corrugated boxes market. Additionally, the rising population coupled with increasing per capita income is expected to propel the corrugated boxes market.
The fluctuating cost of the raw materials for corrugated boxes coupled with high cost associated with corrugated boxes is expected to restraint the growth of corrugated boxes market during the forecast period.
Our-in depth analysis of the global corrugated boxes market includes the following segments:
On the basis of regional analysis, global corrugated boxes market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is expected to be dominating region for the corrugated boxes market during the forecast period. The rising industrialization coupled with expansion of various manufacturing industries in the region is driving the growth of the corrugated boxes market. Additionally, the growing electronics industry in the region coupled with high application of packaging is expected to drive the corrugated boxes market over the forecast period.
Asia Pacific is expected to grow with highest CAGR during the forecast period owing to rapidly expanding e-commerce industry in the region. Additionally, the rising demand for the corrugated boxes from various industries coupled with increasing disposable income of population in Asia Pacific region is expected to drive the corrugated boxes market during the forecast period.
Global corrugated boxes market is further classified on the basis of region as follows:
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