Rising application in logistics and transportation has been fuelling sales of multi-depth corrugated boxes. According to Future Market Insights (FMI), The global multi-depth corrugated boxes market is bound to create decent strides at a CAGR of 6.4% between 2022 and 2031, reaching US$ 1,614.2 Mn by the year 2031.
These boxes are cut down to the required size and height of the package is adjusted as per the size of the inside product. Ease of customization during packaging is a fueling factor for the growth of multi-depth corrugated boxes market across various regions.
The demand for multi-depth style corrugated boxes is rapidly increasing, as these boxes save valuable storage space when the sides of the boxes are folded as per the need without using special carton sizing tool. The food and beverages industry accounts for maximum sales of corrugated boxes.
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Key Takeaways of Multi-Depth Corrugated Boxes Market Study
- Driven by rising demand from various industries, the multi-depth corrugated boxes market is forecast to exhibit 6.4% CAGR between 2021 and 2031
- Within North America, the U.S. is expected to account for over 91% of the sales
- The U.K. is projected to register negative growth at -0.8% in 2021 following COVID-19 outbreak. Recovery is on card 2022 onwards
- The demand from Germany and France is expected to remain high through the forecast period
- China will continue dominating sales in East Asia, while demand from Japan and South Korea is projected to rise at a positive rate
“Most of the secondary packaging material goes directly to waste bins, ending up in landfills or water bodies. With soaring protests against hazardous packaging waste polluting the eco-system, manufacturers and consumers both are concerned about reducing their share of toxic waste generated. Sustainability factor of multi-depth corrugated boxes has been favouring their sales in response to the increasing demand for environment-friendly packaging” says an FMI analyst.
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Demand for High Performance Packaging
Development in packaging material is an important factor enabling growth in the packaging market. High-performance packaging has been developed with robust barrier characteristics and intelligent components. Adapting new changes in packaging material is intended at extending the shelf life of the product.
High-performance packaging material includes high barrier material, intelligent packaging, and nanotechnology. High-performance boxes are mostly manufactured from composite and recycled material to maintain sustainability. These boxes are capable of meeting various requirements to provide effective and ideal packaging solution.
The rising demand for light-weight and product-apt packaging has led to immense growth in the demand for multi-depth corrugated boxes in the market. Corrugated packaging is affordable, convenient, and offers required strength. Heavy-duty corrugated packaging is in high demand due to the rise in transportation and usage of bulky goods like heavy machinery and components for various industries. Double and triple-layer corrugated boxes are highly customized and designed as per customer requirements.
Who is winning?
Georgia-Pacific LLC, International Paper, DS Smith Packaging Limited, Oji Holdings Corporation, Pratt Industries, Inc., Acme Corrugated Box Co. Inc., Great Little Box Company Ltd., A.D. Inc. of Milwaukee, WestRock Company, Smurfit Kappa Group Plc, Uline, Inc., Shillington Box Co., LLC. are some of the leading players in the multi-depth corrugated boxes market.
Key Segments Covered in Multi-Depth Corrugated Boxes Industry Research
- Up to 80 lbs
- 80 to 180 lbs
- 180 to 300 lbs
- Above 300 lbs
Multi-Depth Corrugated Boxes Market by Board Type
- Single Wall
- Double Wall
- Triple Wall
Multi-Depth Corrugated Boxes Market by Strength
- Normal (Below 32 ECT)
- Standard (32 ECT)
- Heavy Duty (44 ECT)
- Heavy Duty Double Wall (48 ECT)
Multi-Depth Corrugated Boxes Market by End Use
- Food & Beverages
- Consumer Electronics
- Home Care & Personal Care
- Textiles
- Glassware & Ceramics
- Automotive
- Others
Multi-Depth Corrugated Boxes Market by Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa (MEA)
- Oceania
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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