Corrugated Cardboard and Paper Boxes Market 2022 Global Size, Share, Key Players, Production, Growth and Future Prospects 2030 – Instant Interview
According to a new market research report published by Report Ocean, the Corrugated and paper boxes The market is expected to grow at a CAGR of 6.10%, over the forecast period. The market should reach US$151.54 billion by 2030.
This detailed report ocean market research report includes an in-depth analysis of technological innovations, market trends, supply chain trends, future trends, major players and key developments. The report also includes additional information on other factors such as drivers, restraints, and challenges faced by this market, along with an overview of each segment mentioned in the study.
The global corrugated and paper box market size was US$91.9 billion in 2021. The global corrugated and paper box market is expected to reach US$151.54 billion by 2030 by increasing at a compound annual growth rate (CAGR) of 6.10% during the forecast period from 2022 to 2030.
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The US current account deficit increased and reached $234.8 billion in Q4 2021. However, the Canadian dollar (CAD) exchange increased by 29.9% in Q1 22 to reach $294.4 billion, widening the imbalance by $68.6 billion. In the first quarter of 2022, exports of goods and services increased by $27.7 billion, for a total of $1.07 trillion. However, the country’s goods and services deficit narrowed to $79.9 billion in June from $87.9 billion in May, which has been corrected, with a drop of $5.7 billion indicating some relief. . On the other hand, the country’s annual inflation rate reached 8.7%.
The price of logistics increased by 34.9% in July 2022, disrupting the supply chain, while electricity prices rose by 15.5%, the highest level since February 2006. In addition, the number of US existing homes sold in July 2022 fell 5.95% to 4.85. million (seasonally adjusted annual rate), which was the lowest number since May 2020 and below the market forecast of 4.89 million. Residential sales fell for the sixth straight month as the mortgage rate peaked at 6.3%. The US economy continues to be heavily impacted by the global energy crisis, forcing people to spend less and save more.
Factors influencing the market
Paper and paper-based packaging are widely adopted to deliver goods from one place to another. This method is considered one of the most profitable, light and attractive, which also guarantees the safety of the product. Thus, these benefits are expected to drive the global corrugated and paper box market forward over the forecast period.
Corrugated boxes are also used as shipping containers in the food and beverage industry. Thus, the rapidly growing food and beverage sector will contribute to the growth of the global corrugated and paper box market.
The growing e-commerce industry is expected to provide ample growth opportunities for the corrugated and paper box market. Additionally, growing awareness of sustainable packaging solutions will propel the corrugated and paper box market forward.
Rising industrialization and favorable government policies to ban plastic waste will provide lucrative growth opportunities for the market. Additionally, the growing number of online food delivery and shopping platforms will accelerate the growth of the global corrugated box market.
High installation costs of machinery and equipment may hamper the growth of the corrugated and paper box market.
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COVID-9 impact analysis
The wake of the COVID-19 pandemic has been beneficial for the corrugated and paper box market. The market has witnessed a sudden surge in global sales owing to the growing demand for door-to-door delivery. Demand for packaged foods, beverages, dairy products and other items has intensified. People have started adopting online platforms to avoid contact. Thus, it has been beneficial for the entire corrugated and paper box market. Additionally, corrugated and paper boxes are inexpensive and can be recycled. This factor has been a significant push towards market growth.
The Asia-Pacific corrugated and paper box market is expected to become the largest market owing to the rapid growth of the e-commerce industry. Additionally, increasing disposable income and growth in the food and beverage industry will contribute to the growth of the corrugated and paper box market.
The corrugated and paper box market has been segmented on the basis of region –North America United States Canada Mexico Europe Western Europe United Kingdom Germany France Italy Spain Rest of Western Europe Eastern Europe Poland Russia Rest of Eastern Europe Asia Pacific China India Japan Australia and New Zealand ASEAN Rest of Asia-Pacific Middle East and Africa (MEA) UAE Saudi Arabia South Africa Rest of MEA South America Brazil Argentina Rest of South America
The global corrugated and paper boxes market segmentation focuses on material, product, application and region.
The corrugated and paper box market has been segmented on the basis of material –Cardboard Adhesives Inks Waxes
The corrugated and paper box market has been segmented on the basis of product –Corrugated and strong fiber boxes Assembled cardboard boxes Folding cardboard boxes
Corrugated and Paper Boxes Market has been segmented on the basis of Application –Food and beverages Paper and publishing Chemicals Personal care products Pharmaceuticals Other (consumer goods and electronics)
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Market competitors Cascades Inc.DS Smith Plc Georgia-Pacific Corporation Graphic Packaging International, Inc. International Paper Company Klabin SA Mondi Group Nine Dragons Paper (Holding) Limited Nippon Paper Industries Co. Ltd Oji Holding Corporation Orora Packaging Australia Pty Ltd Packaging Corporation of America Rengo Co ., ltd. Smurfit Kappa Group West Rock Other Important Players
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Main highlights of the study’s table of contents:
- Market overview and summary
- Market drivers
- Market share analysis
- PORTERS Analysis
- PESTEL analysis
- Value chain analysis
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