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Corrugated Packaging Market Technology 2022: Business Growth, Trend and Forecast

Corrugated Packaging Market size was valued at USD 67.7 billion in 2021 and is estimated to exhibit over 4.4% CAGR from 2022 to 2028.

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Corrugated Packaging Market Technology 2022: Business Growth, Trend and Forecast

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  1. Corrugated Packaging Market to at over 4.4% CAGR from 2022 to 2028: Global Market Insights, Inc. Global Market Insights Inc.

  2. Overview of Industrial Corrugated Packaging Market • Corrugated cardboard is gaining popularity as an excellent packaging choice owing to its recyclability, cost-effectiveness, and low environmental footprint. Manufacturers of corrugated packaging material are therefore expected to witness robust growth, given the rise of eco-friendly corrugated board and sustainable packaging manufacturing amid the global e-commerce boom. • According to statistics from Indian Retailer, demand for sustainable packaging materials will likely double to reach over $63.3 billion by 2023. This factor is providing growth opportunities for suppliers of corrugated boards, which make up over 80% of the market. • These factors, alongside the growing emphasis on the consumption of recyclable materials to comply with stringent packaging norms, will favor corrugated packaging market growth. Global Market Insights Inc.

  3. Continue… • In end-use industries like food and beverages, medical, and electronics, the need for suitable packaging solutions is increasing. In keeping with this, leading brands in these sectors are undertaking strategic initiatives like new product launches to quickly adapt to the changing consumer needs. • The novel coronavirus pandemic has accelerated online grocery shopping activities, especially in the Central European region. To address the burgeoning demand for grocery delivery services, regional packaging companies are continuing to offer fit-for-purpose solutions. • For instance, in August 2021, UK-based Mondi announced the launch of a variety of corrugated shipping boxes for the online grocery sector in Central Europe. These packaging systems include Pick&ShipBox, designed to adapt to multiple packaging requirements; RecipeBox, developed for fresh produce and groceries; and the PantryBox, designed for carrier shipping. Global Market Insights Inc.

  4. Continue… • The packaging industry is gaining remarkable momentum due to the expansion of direct-to-consumer brands operating in the food, consumer electronics, cosmetics, and fashion sectors. Several new-age digital-first brands are also deploying a D2C route and directly engaging with numerous digital shoppers. • According to data from JD Mart, Y-o-Y demand for scrap boxes, laminated boxes, die-cut boxes, and vegetable boxes increased by 200%, 700%, 540%, and 200% respectively in India. This, along with the rapidly expanding D2C sector, is asserting a positive influence on the demand for corrugated boxes in the region. • Consumer electronics brands are planning to increase the usage of eco-packaging to cover more products, including home appliances. As a part of the growing focus on sustainability initiatives, the consumption of eco-friendly packaging services especially is likely to increase. Global Market Insights Inc.

  5. Continue… • In January 2022, Samsung, for example, announced its plan to offer a wide range of home appliances packaged with eco-friendly corrugated cardboard boxes, in line with its 2022 sustainability initiatives. Furthermore, the company was targeting to incorporate recycled materials into interior packaging, which could favor corrugated packaging market growth from consumer appliance applications. • The availability of reusable packaging solutions has been rising in the marketplace over recent years. One recent entrant is ReusePac, whose corrugated boxes are witnessing potential applications in consumer products, fashion, e-commerce, healthcare, and manufacturing, among other industries. • According to Bill Xia, ReusePac’s Owner and Product Designer, its corrugated plastic boxes feature various unique designs with reusability, collapsible, and lightweight properties at low prices. The boxes are also considered 100% recyclable after the end of the reuse life, thus emerging as a zero-waste alternative to traditional cardboard boxes and positioning the firm as a key contributor to corrugated packaging industry growth. Global Market Insights Inc.

  6. Browse Full Research Report On Corrugated Packaging Market @ https://bit.ly/3zLUOH8 Request for a sample of this research report @ https://bit.ly/3SAT0t2 Global Market Insights Inc.

  7. Stay In Touch Website: www.gminsights.com Social Media: Global Market Insights Inc.

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