Market Trends of Corrugated & Paperboard Boxes Industry
This section covers the major market trends shaping the Corrugated & Paperboard Boxes Market according to our research experts:
Food and Beverage Expected to Hold Significant Market Share
- Amongst end-user applications, foods & beverages are the principal end-user segment of the corrugated & paperboard boxes market and are anticipated to advance at a fast speed in the forecast period. The food and beverage industry majorly utilizes coated unbleached boards for packaging of beverages, and corrugated container boards for packaging of vegetables, fruits, and food products. The accelerated demand for frozen foods is possible to push the demand for folding carton packaging.
- Alterations in lifestyle and a budding young population lead to a greater demand for branded and packaged substances. According to the Flexible Packaging Association, the beverage sector in the United States valued for nearly 50% of the packaging market. Currently, over 30% of the Americans order meals twice a week, and this is anticipated to grow at 3% in the coming years.
- Furthermore, on-the-go consumption, in countries like China, Japan, India, is further feeding the demand. In countries, such as India and China, the food and beverage need is always on a larger side, which is consequently driving the paperboard packaging market. Such assertive growth in the food and beverage industry is supposed to boost the need for paperboard packaging throughout the forecast period.
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Asia-Pacific Expected To Have Significant Growth
- Asia-Pacific is supposed to have significant growth. The growing number of manufacturing plants all over the region, combined with the increasing consumerism and transit packaging sector in the APAC region, is adding to the growth of the Corrugated & Paperboard Boxes Market. Due to the growing demand for paper pulp in developing countries such as China and India, the region is anticipated to be the fastest-growing region. There is an addition to the transit packaging sector in China, combined with increasing consumerism, which is leading to a quickly expanding demand for paper packaging.
- Corrugated & Paperboard Boxes Market demand in the region has been expanding at a rate of 6.5% since 2008, far greater than anywhere else in the world. Along with this requirement for paper packaging, the need for recycled paper is also growing. There is an escalating rate of exports in the developing logistics sector as the corrugated boxes are supposed to dominate the market in this region. Due to sound growth in sectors, like (FMCG) and cosmetics, the fast-growing middle-class population is anticipated to boost the demand for Corrugated & Paperboard Boxes Market in the region.
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