The global non-corrugated boxes market is poised for significant growth, with a projected valuation of US$ 56.9 billion in 2022, expanding at a CAGR of 7.2% to reach US$ 114.0 billion by 2032, according to the latest research by Future Market Insights (FMI).
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Key Market Insights
- Top 5 Companies: The top 5 companies in the non-corrugated boxes market are anticipated to hold approximately 10-15% of the market by the end of 2022, indicating a competitive landscape with opportunities for both established players and new entrants.
- Segment Analysis: Based on thickness, the segment with thickness between 1.5mm to 2.5mm is projected to account for around 44% of the market value share by the end of 2022. The preference for standard boxes with ideal thicknesses is expected to drive sales in this segment.
Market Drivers
The growth of the non-corrugated boxes market is fueled by several factors including:
- Increasing Demand: Rising demand for non-corrugated boxes across various industries such as food and beverage, electronics, pharmaceuticals, and retail is driving market growth.
- Preference for Standard Boxes: The preference for standard boxes with optimal thicknesses, especially between 1.5mm to 2.5mm, is boosting sales of non-corrugated boxes.
- Global Expansion: With globalization and the expansion of e-commerce, there is a growing need for efficient and reliable packaging solutions, further driving the demand for non-corrugated boxes.
Business Growth Opportunities:
- Product Diversification: Expanding the range of non-corrugated box offerings to include various sizes, shapes, and functionalities can cater to diverse customer needs and attract new market segments.
- Partnerships with E-commerce Platforms: Collaborating with e-commerce giants or smaller online retailers can provide access to a broader customer base. Offering customized packaging solutions tailored to their specific shipping requirements can be a lucrative growth opportunity.
- Investment in R&D: Investing in research and development to innovate new materials, designs, and manufacturing processes can result in competitive advantages, such as cost efficiency, enhanced product durability, or unique customization options.
- Vertical Integration: Integrating backward or forward in the supply chain can streamline operations and reduce costs. For instance, acquiring raw material suppliers or establishing distribution channels can ensure a steady supply of quality materials and efficient delivery of finished products.
- International Expansion: Exploring opportunities in emerging markets or expanding operations globally can open up new revenue streams. Understanding regional preferences, regulations, and market dynamics is crucial for successful expansion strategies in the non-corrugated boxes market.
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Market Segmentation:
Based on the type:
- Plain Non-corrugated Boxes
- Printed Non-corrugated Boxes
Based on the end-use applications:
- Food & Beverage Industry
- Confectionary
- Cereals
- Household electronic appliances
- Ready to consume drinks
- Personal care products
- Household care products
Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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