With the expansion of the packaging industry, the demand for corrugated boxes is growing rapidly across the world. As per Interpack Emerging Market Outlook, the valuation of the global packaging industry was $839 billion in 2015. The ballooning requirement for manufactured goods such as television sets, smartphones, and consumable items like candies is pushing up the demand for corrugated boxes, on account of the fact that these boxes have very high structural strength and are highly resistant.
Besides the aforementioned factors, the mushrooming usage of corrugated boxes by online retailers is also propelling the growth of the corrugated boxes market. As per reports, the value of the global e-commerce industry was nearly $3.5 trillion in 2019, with the industry demonstrating rapid advancement in China and India. The boom in the e-commerce industry, on account of the development of proper delivery infrastructure and the rising smartphone penetration, is further boosting the worldwide demand for corrugated boxes.
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This is, in turn, driving the progress of the global corrugated boxes market. As a result, the valuation of the market will rise from $180.9 billion in 2019 to $284.6 billion by 2030. Furthermore, the market is predicted to demonstrate a CAGR of 4.3% between 2020 and 2030. The most widely used types of corrugated boxes are slotted, telescope, rigid, and folder. Amongst these, the demand for telescope boxes will rise rapidly all over the world in the coming years.
Geographically, the corrugated boxes market will exhibit the fastest and the highest growth in the Asia-Pacific region in the forthcoming years, as per the forecast of P&S Intelligence, a market research company based in India. This will be because of the growing public awareness about environmental protection, the increasing requirement for sustainable packaging, the surge in e-commerce activities, and the burgeoning requirement for personal care products and electronic goods in the region.
Hence, it can be said with full confidence that the sales of corrugated boxes will rise enormously all over the world in the future years, primarily because of the expansion of the e-commerce and packaging industries across the globe.
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