Persistence Market Research

Global Corrugated Packaging Market to Register 4.0% CAGR Through 2020

According to a recently published report by Persistence Market Research, the global market of corrugated packaging is projected to witness a growth of 4.0% CAGR over the forecast period, 2014 – 2020.

 

New York, NY -- (SBWIRE) -- 08/10/2017 -- Growing need for protective packaging products in the food industry has led to an upsurge in demand for corrugated packages globally. Moreover, expansion of e-commerce platforms is predicted to impact growth of the global market of corrugated packaging positively.

Factors Fuelling Global Market Growth
Increasing need for sustainable and low priced packages has led to a surge in demand for corrugated packages in the food and beverage industry. Surge in demand for consumer goods is expected to contribute towards the global market growth of corrugated packaging during the predicted period. Growing need to protect medicines from moisture is expected to rev up demand for corrugated packages in the pharmaceutical and healthcare industry. Such factors are likely to contribute towards the global market growth of corrugated packaging positively by 2020 – end.

Expansion of various e-commerce platforms offering packages at a relatively low price is predicted to fuel growth of the global market of corrugated packaging significantly during the projected period. These packages also find application as billboards and stand-up displays for brand promotion and identification. Manufacturers prefer using corrugated packages over traditional packages as high quality designs can easily to be printed on these packages. Bound to these factors, the global market of corrugated packaging is likely to witness a surge in growth during the predicted period. Increasing need for protective packages for electronic products in the shipping industry is expected to fuel demand for corrugated packages. Such factors are expected to contribute towards the global market growth of corrugated packaging throughout 2020.

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Apart from application in the pharmaceutical, food and beverages, and shipping industry, corrugated packages also witness significant demand among manufacturers operating in the personal care, household, and beverages industry. Such factors are expected to rev up demand for corrugated packages in the global market.

Factors Inhibiting Global Market Growth
On the other hand, relatively low strength and durability of the corrugated packages as they are produced with recovered fibers has led manufacturers in various industries to opt for alternative packages. Corrugated packages are mainly used for lightweight products, which limits application of these packages to few industries. Such factors are expected to restrain growth of the global market of corrugated packaging by the end of 2020.

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Moreover, the corrugated packages need to be kept protective from humid weather as it could reduce the compression level inside the corrugated package. These packages need to be kept protected from spark and liquid as it could hamper the package and the products packaged inside. Such factors are likely to hinder growth of the global corrugated market during the projected period.

Europe to Represent a Leading Market
U.K., Spain, France, Italy and Germany in Europe are expected to remain leading market for corrugated packaging. Brazil and Turkey are likely to represent prominent producers in the ROW region. Japan, India, and China will remain the major manufacturers of corrugated packaging globally. U.S. is likely to represent the largest producer in the North America market throughout 2020.

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Market Players
Major market players in the global market of corrugated packaging are International Paper Company, Rock-Tenn Company, Nine Dragons Paper (Holdings) Limited, Smurfit Kappa Group, Lee & Man Paper Manufacturing Ltd., Georgia-Pacific Equity Holding LLC, Oji Holdings Corporation, Packaging Corporation of America, Mondi Group,  and DS Smith Plc.