Market Trends of Australia Corrugated Board Packaging Industry
This section covers the major market trends shaping the Australia Corrugated Board Packaging Market according to our research experts:
Food Segment Expected to Occupy Significant Market Share
- Because of people's hectic lifestyles, convenience foods are in high demand. As a result, processed food, which takes less time to prepare, attracts a growing number of consumers. The ever-increasing population drives the desire for processed food, which is both convenient and healthy.
- For various food products, paper and cardboard are becoming viable alternatives to plastic packaging. Paper packaging can be made from recycled materials and recycled or disposed of more easily.
- According to Food and Drink business News, in November 2021, Food and beverage production accounts for more than 30% of overall manufacturing output in Australia or USD 133 billion in FY21. More than 275,000 people are employed by it, with about 40% of those occupations located in regional Australia.
- According to the Australian Bureau of Agricultural and Resource Economics and Sciences, Australia, along with Canada, Germany, and France, is one of the world's most food-secure countries. About 20% of domestic manufacturing and service revenue comes from the food industry. Australian farmers grow and supply the great bulk of the food market in this country.
- As corrugated board packaging keeps moisture away from products and can withstand long shipping times, companies are increasingly adopting this packaging to offer better customer outcomes, especially for secondary or tertiary packaging. Processed foods, such as bread, meat products, and other perishable items, need these packaging materials to be used just once, thus driving the demand.
- According to ABARES, In the 2021 financial year, beef and veal were Australia's top agricultural exports, at 8.4 billion Australian dollars. Apart from these, Australia is a major wheat exporter, with 6.8 billion Australian dollars in export value in the same year.
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The E-commerce Industry in Australia is Expected to Witness Significant Growth
- In recent years, the e-commerce business has emerged as a prominent player. Leading Fin-Tech firms, such as Adyen, are providing engaging services, resulting in an increase in online orders, which encourages the growth of the corrugated packaging business. For instance, Adyen, a global payments platform, has expanded its collaboration with AfterPay, allowing more of Adyen's merchants to use the Buy Now Pay Later (BNPL) service in additional countries worldwide.
- According to Australia Post, In comparison to the previous year, the variety shop e-commerce segment grew by over 16 percent in 2021. Other e-commerce areas that grew by more than 12% year over year were fashion and home and garden. Whic drives the demand for Corrugated Board Packaging Suppliers.
- Australia is one of the most urbanized societies in the world, with more than 24 million people (~90% of the population) living in the urban areas of Sydney, Melbourne, Adelaide, Brisbane, and Perth, as well as in smaller cities and towns within 100 miles of the ocean. Factors such as internet advertising, and the influencer's trend for the product categories, including personal care and household products, footwear, and apparel, are helping the Corrugated Board Packaging market record more revenue transactions in the country. The trend is also anticipated to continue in the forecast period, owing to the growing demand for them.
- In June 2022, Disney announced that it had launched the ShopDisney online store in Australia and New Zealand, where local customers could previously purchase its products through worldwide partner websites, but now they can buy ShopDisney products in their own currency and have them delivered in three to five business days via delivery partner DHL in Australia and New Zealand. This drives the growth of online orders while expanding the potential for Corrugated Packaging manufacturers.
