The moving supplies market is expected to escalate at a CAGR of 4.4%, from USD 651.6 billion in 2022 to USD 1004.6 billion through 2032.
Amid the COVID-19 crisis, the global market for moving supplies is estimated at US$ 651.6 Billion in 2022 to US$ 1004.6 Billion in 2032. Previously, the market grew at a faster rate of 2.2% from 2015 to 2021, culminating in a market of US$ 623.6 Billion in 2021.
Various moving boxes are available in many sizes that meet the packaging needs of consumers; household items, as well as personal belongings such as laptops, televisions, beds, clothes, and kitchen appliances, can be conveniently packed and transported from one place to another.
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According to the analysts, online retailers are deploying product-specific boxes to protect items against mechanical stress, which is expected to fuel the global moving market growth.
By developing customizable boxing options, the use of space could be more efficiently utilized, which could lead to fewer airborne particles being transported, as well as more products being shipped in one load, which reduces greenhouse gas emissions from excess transportation, and this system-wide optimization can be achieved through open communication between brands, suppliers, manufacturers, and distributors, which lowers distribution costs as well.
Companies in the packaging industry are facing growing concerns regarding the macroeconomic environment and economically sustainable packaging. Construction and industrialization are growing at an accelerated pace in developing countries.
The globalization of businesses has also increased the number of products exported to other countries, which increases the demand for moving supplies to protect items during long-distance travel.
Despite their lower market share compared to other developed countries in the region, eastern European countries are expected to grow at a greater pace as their market penetration of the moving supplies market is greater. In addition, the UK, Germany, and France will lead the industry in Europe due to their mature food, beverage, and household product markets.
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KEY TAKEAWAYS:
- The moving supplies market is predicted to develop at a CAGR of 2.6% in the price range section of the mass category.
- In the United States, the moving supplies market is estimated to reach US$ billion by 2032, rising at a CAGR of % throughout the forecast period.
- By 2032, the moving supplies market in the United Kingdom is expected to be valued US$ billion, with a CAGR of % through 2032.
- With a CAGR of % throughout the forecast period, China is expected to reach a market size of US$ billion in moving supplies market by 2032.
- By 2032, the moving supplies market in Japan is estimated to be worth US$ billion, growing at an annual rate of % through 2032.
- With a CAGR of % throughout the forecast period, South Korea is predicted to reach a market size of US$ billion in moving supplies market by 2032.
COMPETITIVE LANDSCAPE:
Companies that have developed new products to increase their market share among consumers are also adopted by leading companies. It is these strategies that have led to the development of the moving supplies market.
On 29th October 2019, WestRock was honoured for packaging design excellence by the Paperboard Packaging Council at the 76th annual North American Paperboard Packaging Competition.
The world’s largest volume of digital corrugated packaging was produced by Georgia Pacific LLC on 29th January 2021 with the purchase of the HP PageWide T1190 press from Hewlett Packard.
Moving supplies are manufactured and marketed by Mondi Group Plc, DS Smith Packaging Limited, Oji Holdings Corporation, Smurfit Kappa Group Plc, International Paper Company, WestRock Company, Georgia Pacific Packaging LLC, Pratt Industries, Inc., Tat Seng Packaging Group, VPK Packaging Group nv, STORA ENSO OYJ, Nelson Container Corporation, Great Little Box Company Ltd., Acme Corrugated Box Co. Inc.
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RECENT DEVELOPMENT:
- Bizongo has partnered with United Way, a non-profit organization, to supply protective gear for healthcare facilities, and has also launched a microsite with real-time tracking of demand and supply during the COVID-19 outbreak.
- Tetra Pak’s global network of manufacturing sites has ensured to meet the surge in demand for the company’s full range of products in March 2020 to make sure that the global population has uninterrupted access to safe, healthy food.
- At the Mondi Group’s production facility in Szczecin, Poland, a new production line will be installed in September 2021, expanding the packaging portfolio and streamlining processes. This expansion will also further establish the company as a leading provider of e-commerce packaging for the rapidly expanding European market.
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