Premium brands are focusing on developing consumer-centric products to cater to the growing need for luxury premium products. They are also focusing on developing interactive packaging as it influences their customers and which are sustainable. This is expected to create remunerative growth prospects for paper boxes manufacturers.
According to Future Market Insights, the demand for paper boxes is increasing across consumer electronics, food & beverages, and cosmetics & personal care industries. The printability feature of the paper rigid box is well sufficed to capture current trends in product packaging.
Further, demand for paper boxes is also surging with customization of brand boxes with interactive technology. Brands these days are offering interactive technology such as QR codes, NFC tags, RFID tags, etc. in their packaging solutions that help customers to gain more insights about the product.
The customers can scan the QR codes printed on paper boxes to avail useful information about the product. This interactive technology also helps to avoid counterfeit activities and gain customer trust. This way customized and interactive packaging trends will bolster the demand for paper boxes.
Based on these aforementioned factors, FMI predicts the demand for paper boxes will increase at 7.2% CAGR between 2022 and 2032, surpassing US$ 114 Bn by the end of 2032.
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Key Takeaways from Paper Boxes Market
· The telescopic boxes segment as a box type is estimated to remain the leading segment, accounting for around 36% of the market share by the end of 2032.
· Based on end use, the consumer electronic segment is projected to register a CAGR of 6.9% during 2022-2032.
· Europe, North America, and East Asia are anticipated to showcase the highest demand for the paper boxes market during the forecast period. These regions collectively are estimated to hold around 60-65% of the market value share by the end of the next ten years.
“Need for protective and robust packaging solutions in consumer electronics industry will augment the sales of paper boxes. Hence, paper boxes manufacturers are offering customized designs and printability to woo the consumers.” says an FMI analyst.
Expansion of E-commerce and Retail Sector to Boost Paper Boxes Market
Expansion of e-commerce and retail sectors will propel the demand for protective and attractive packaging solutions. Hence, paper boxes manufacturers are developing boxes with rigid quality to ensure that the product is been delivered properly and without damage.
According to United Nations Conference for Trade and Development (UNCTAD), the global e-commerce trade has increased to a record around US$ 28.5 Trillion which is around a 13% increase from pre-pandemic levels.
As per the National Retail Federation (NRF), retail sales in the U.S. have grown by around 6.7% in 2020. Hence, expansion of e-commerce and retail sector will create growth opportunities for paper boxes manufacturers.
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Paper Boxes Market Landscape
DS Smith plc, Robinson Plc, McLaren Packaging Ltd, Elite Marking Systems, Huhtamäki Oyj, Smurfit Kappa Group Plc, Stora Enso Oyj, WestRock Company, Mayr-Melnhof Karton AG, PakFactory are the key players operating in the paper boxes market. Furthermore, Madovar Packagng Inc., Burt rigid Box, Inc., Elegant Packaging, Bigso Box of Sweden, Johnsbyrne, Sunrise Packaging, Inc., and others are also noticeable players in the paper boxes market. The Tier 1 players in the market hold 15-20% of the global paper boxes market.
Paper Boxes Market by Category
By Box Type:
- Hinged lid Boxes
- Telescopic Boxes
- Collapsible Boxes
- Shoulder Neck Boxes
- Others (Rigid Sleeve Boxes, etc.)
By Board Thickness:
- Up to 1.5 mm
- 1.5 mm to 2.5 mm
- Above 2.5 mm
By End Use:
- Fashion Accessories & Apparels
- Food & Beverages
- Cosmetics & Personal Care
- Consumer Electronics
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