Corrugated Boxes Market to Raise at a CAGR of 4.3% over the Forecast Period 2018 – 2028
Friday, February 08, 2019
Press release from the issuing company
Nearly 170 million tons of corrugated boxes were sold in 2018, equaling a market value worth US$ 112 billion. A new study by FMI estimates that the corrugated boxes market will grow at a 3.9% y-o-y in 2019. Key market influencing factors include,
· Increased demand for bulk packaging solutions
· Higher recyclability of corrugated boxes
· Fluctuations in Kraft paper cost and increasing gap in the supply-demand scenario
“While paper and pulp markets have witnessed a significant decline in the five years, increasing demand for paperboard packaging is said to balance the decline. However, manufacturers are likely to face challenges in the form of increasing popularity of plastic packaging as compared to that of fiber-based packaging solutions. Amid this, the corrugated boxes market is projected to generate revenues worth over US$ 116 billion in 2019 with sales of 176 million tons,” says FMI.
Paperboard packaging companies are realigning their business focus by introducing a broader portfolio to efficiently address customer value proposition. As forest-based paper and pulp industry is undergoing a dramatic transition, commercial interphase of companies offering corrugated boxes is likely to change in terms of creation of value over maintaining sales volume.
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Demand for Recycled Corrugated Boxes Continues to Surge
Recyclability continues to be a focus area for both manufacturers and end-users. Sensing the changing preferences, manufacturers are adopting sustainable raw materials in the manufacture of corrugated boxes.
Single Wall Board Accounted for 7 in 10 Corrugated Box Sales in 2018
The study also opines that demand for double wall board corrugated boxes registered second highest consumption in 2018. While the demand trend of double wall board corrugated boxes will continue in the future, FMI finds that sales of triple wall board corrugated boxes is expected to rise on the back of focused demand from end-users that store ship large, high-value, delicate and heavy products.
Corrugated Box Production Consumes More Liners over Fluting Medium
The FMI study finds that sales of testliner is expected to grow at a higher rate over other liner types. Demand for unbleached testliner is expected to grow at 4.8% in 2019. Aligned with the recyclability trend, recycled fluting medium will be highly sought after in the coming years.
Slotted Corrugated Boxes Top Selling, Food Industry Leading End User
Slotted boxes accounted for nearly 72% of all corrugated boxes sold in 2018.
Demand for slotted boxes is likely to rise in 2019 at a significant rate with the demand to remain highly consolidated in food and consumer goods industries.
The study foresees that among an extensive list of end users, the food industry is likely to account for over 60% of the total corrugated boxes application in 2019. The food industry, in particular, processed food industry manufacturers highly seek bulk packaging solutions, of which corrugated packaging is embraced owing to its cost effective and convenient nature.
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APEJ Spearheads Corrugated Boxes Consumption
The FMI report tracks the corrugated boxes market for the period 2018-2028. According to the report, the corrugated boxes market is projected to grow at 3.7% volume CAGR through 2028. For more insights, write in to FMI analysts at email@example.com.
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