The packing boxes market is forecasted to exhibit a 5% CAGR through 2033, as per FMI’s analysis. The industry’s size is predicted to extrapolate from US$ 141.44 billion in 2023 to US$ 230.37 billion by 2033.
This expansion is driven by the surging demand for sustainable and recyclable packaging solutions, propelled by increasing environmental awareness among consumers and stringent regulations by governments worldwide. The e-commerce boom has also played a pivotal role, as online retailers require robust and reliable packaging to ensure safe delivery of products. Innovations in packaging technology, such as smart and customizable packaging solutions, are further enhancing market growth by catering to diverse industry needs.
Additionally, the rise in disposable income and urbanization, especially in emerging economies, is fueling demand for high-quality packaging. Companies are investing in advanced materials and design innovations to offer lightweight, durable, and cost-effective solutions. The food and beverage, healthcare, and personal care sectors are major contributors to the market’s expansion due to their increasing reliance on effective packaging for safety, hygiene, and convenience.
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Top Highlights from the FMI’s Analysis of the Packing Boxes Market
- India is projected to expand at an exponential rate through 2033. Manufacturers are forecasted to crowd the country to capture profitable businesses in the end-use industries.
- The adoption of packing boxes becomes widespread, as the food industry mushrooms at a fast pace in China.
- Australia’s market offers considerable revenue growth potential from 2023 to 2033.
- South Korea is expected to witness high demand for packing boxes.
Latest Developments Burgeoning the Market Expansion
- In May 2023, Stora Enso introduced easy-to-recycle food packaging called Tambrite Aqua+. This innovative solution has 0% fluorochemical and can endure exterior moisture or grease to keep the food packaging chilled and frozen. This folding box board solution is engineered to reduce the need for fossil-based plastics.
- In January 2023, Mondi, a packaging giant, officially declared its hefty investment aligned with its 2021-22 capacity expansion strategy for corrugated cardboard production.
- In June 2023, VPK Group introduced a paper machine in Normandy. In June 2022, the VPK converted Alizay’s industrial site into a sustainable development hub for the circular economy.
- In September 2022, Stora Enso acquired De Jong Packaging Group to boost the production of corrugated packaging. The primary objective behind this acquisition is to invigorate the company’s market presence for corrugated packaging in Europe.
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Key Segmentation
By Material Type:
- Virgin
- Recycled
By Board Type:
- Single Face Board
- Single Wall Board
- Double Wall Board
- Triple Wall Board
By Grade Type:
- Liner
- Kraftliner
- Bleached
- Unbleached
- Test Liner
- Bleached
- Unbleached
- Kraftliner
Fluting Medium:
- Semi-Chemical
- Recycled
By Product Type:
- Sloted Box
- Folder Box
- Telescope Box
- Die-Cut Box
By End Use:
- Food
- Beverages
- Electronics & Electricals
- Healthcare
- Textiles & Apparels
- E-Commerce
- Building & Construction
- Personal Care & Cosmetics
- Chemical & Fertilizers
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
About Future Market Insights Inc. (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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