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Corrugated board is made by combining two sheets of paper called liners that are glued to a corrugated inner medium called fluting. Packages made from such board are called corrugated packages. Market Research Future (MRFR) has published a research report about the global corrugated packaging market size that predicts huge economic prospects for this market during the forecast period between 2017 and 2023.
Major factors aiding the global corrugated packaging market include rising population and growing per capita income. Other important driving factors are growing applications across burgeoning industries and restricted use of plastic packaging material. Scientific research has proven that corrugated packages can reduce the risk of microbiological contamination of food products, thus, prolonging their shelf life by up to three days. As corrugated packaging material is made from up to 85% recycled materials, its use can also reduce pollution. Corrugated packaging is among the most preferred packaging formats for the products of all sizes.
Segmentation
The global corrugated packaging market segmentation covers application, type, and wall construction. MRFR is exploring the features of these segments to understand market trends.
Based on the application, the market segmentation covers electronic goods, food & beverages, healthcare, industrial, personal care, pharmaceuticals & healthcare, and others.
Based on the wall construction, the market has been segmented into single-wall, double-wall, and triple-wall.
By type, the market has been segmented into bliss/rigid boxes, self-erecting boxes/auto-bottom boxes, slotted boxes, and telescope. During the forecast period, the rigid boxes segment is expected to grow at 6.04% CAGR.
Regional Segmentation
The regional segmentation of the global corrugated packaging market covers Asia Pacific, Europe, North America, and Rest of the World (RoW).
Dominating the global market, North America is expected to grow further as a regional market at 5.69% CAGR during the forecast period due to the burgeoning e-commerce industry via increasing cross-border trade. Presence of many crucial market players in the USA and huge demand for online shopping is boosting the market growth. Canada is another major country-specific market in this region.
Asia Pacific region is the fastest growing market due to the growing e-commerce industry in this region and lucrative opportunities in the packaging industry. Growth of the Internet in India, China, and Japan, makes these three countries, an important market. Remaining countries of Asia Pacific region also boost the market growth by contributing significant revenue. Rising disposable income and high density of population are speeding up the market growth in China and India.
In Europe, the market can grow due to the availability of good internet facilities, technological advancement, and the high density of population. In terms of technological advancement, Europe is second only to North America. The topmost country-specific markets in this region are France, Italy, Germany, and the UK. Other countries of Europe also contribute significantly to the market growth.
The RoW segment covers South America and the Middle East & Africa (MEA) region. South America, as a market, is smaller than North America, due to the limited availability of advanced technology in this region. The most vibrant economies that can emerge as powerful markets are Argentina and Brazil. In the MEA region, the market is limited due to the limited availability of internet and lack of technology.
Key Players
Major players in the global corrugated packaging market include Archis Packaging (India) Pvt. Ltd., Europac Group (UK), Georgia-Pacific LLC (Atlanta), International Paper Company (USA), KapStone Paper (USA), Mondi Group (Austria), Nefab Group (Sweden), Orora Packaging Australia Pty Ltd (Australia), Packaging Corporation (USA), Smurfit Kappa Group (Ireland), and WestRock (USA).
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https://telegra.ph/Antimicrobial-Food-Packaging-Market-Research-Report---Forecast-to-2022-02-19
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