The CAGR for the global market for rigid boxes is predicted to be between 5% and 6% from 2022 to 2032. Luxury rigid boxes are rapidly being embraced across a range of industries thanks to the expanding premiumization trend. Due to this, it is predicted that the luxury rigid box market would generate an absolute dollar potential of over US$ 5.5 billion by the end of 2032, growing at a CAGR of roughly 4% to 5% between 2022 and 2032.
Global market growth chances are being created by the escalating need for rigid packaging solutions for fragile and sensitive products from the quickly growing e-commerce and logistics industries.
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Which are Some Prominent Drivers Spearheading Rigid Boxes Market Growth?
Over the past decade, the packaging industry has witnessed a massive transformation from using metal and plastics packaging solutions to using paper fiberboard and corrugated ones. This is due to the ever-changing customer preference and end user demand for packaging solutions as per product-specific and application-specific requirements.
Hence, numerous players in the market are aiming at providing customizable rigid packaging solutions ranging from basic boxes to luxury boxes, which is in turn, projected to favor the growth in the global market.
Demand for rigid boxes is registering robust growth across industries such as food & beverages, chemical, electrical & electronics, cosmetics & personal care healthcare for primary, secondary, and bulk packaging applications.
What role does Eastern Europe play in the market expansion for rigid boxes?
According to FMI, Eastern Europe is anticipated to become a highly lucrative market for rigid boxes between 2022 and 2032.
End use producers are increasingly focusing on adopting pricey-looking and enticing packaging solutions to increase the product appeal as the trend of premiumization continues to make deeper inroads throughout the sectors such as personal care & cosmetics, gifts, chocolates, and others. Leading market participants are striving to introduce unique luxury rigid boxes as a result, in order to take advantage of this current opportunity.
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Market Competition
Some of the leading players in the rigid boxes market are
- International Paper Company,
- Mondi Group Plc,
- Metsä Board,
- Bee Packaging,
- Tat Seng Packaging Group Ltd.,
- Stora Enso Oyj,
- Smurfit Kappa Group Plc,
- Shillington Box Co., LLC,
- Great Little Box Company Ltd.,
- Georgia Pacific LLC, and others.
Prominent players in the global rigid boxes market are focusing at launching sustainable products and merger & acquisition to increasing their share in the highly competitive market.
Key Segments Profiled in the Rigid Boxes Market Survey
By Material Type:
- Paper
- Containerboard
- Paperboard
- Plastic
- Polypropylene
- High-Density Polyethylene
- Other plastics
- Metal
- Aluminum
- Steel
By Product Type:
- Basic Rigid Boxes
- Secondary Rigid Boxes
- Luxury Rigid Boxes
By End Use:
- Electrical & Electronics
- Cosmetics & Personal Care
- Food & Beverages
- Healthcare
- Home Care
- Automotive & Allied Industries
- Chemical
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Japan
- Middle East and Africa
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