Corrugated Boxes Market To Grow Significantly in North America
The corrugated boxes market was USD 251.6 billion in 2022, and it will grow at a CAGR of 4.6% in the years to come, to reach USD 359.6 billion by 2030, according to a report of P&S Intelligence. This growth is because of the increasing requirement for convenient and lightweight solutions across various industries.
Corrugated board products are also put to use by businesses providing variety of food services, including serving and packing meals. For example, restaurant chains are keener in packaging of their food items. Furthermore, because of the online retailing, the growing requirement for e-commerce packaging will accelerate the expansion of the industry.
Also, the corrugated boxes market of North America will grow significantly, about 5%, in the years to come. The industry growth can be majorly credited to the high acceptance of corrugated boxes that are hard-wearing and has the ability to withstand wear and tear thru shipping. Furthermore, they enable easier printing on the outsides, for advertising and branding purposes.
The C category had the largest share of around 40%, in 2022. This flute type is highly used in corrugated boxes for the purpose of shipping, chiefly for the packing of dairy products, glass products, furniture, and automotive apparatuses.
For example, market players provide these kinds of boxes for the packaging of metallic body pieces, engines windshields, airbags, and car headliners. These boxes can be loaded and have an improved compression strength since they feature a corrugated medium, rather thick.
Furthermore, because of its, high stacking strength, good crush resistance, and appropriateness for superior printing, the C flute is preferred by users. Because of these factors, this category will continue being the largest and grow at a rate in excess of 5% in the years to come.
One of the main factors responsible for the industry is the development of the packaging industry. The increase in the requirement for factory-made goods, ranging from television sets, smartphones to consumable items, including candies, has pushed the requirement for corrugated material, particularly corrugated boxes, for the purpose of transportation and storage, because of their crush resistance and high structural strength.
The single-wall category dominated the industry, accounting for revenue of over USD 200 billion, in 2022. These boxes are lightweight and, so, perfect for carrying low-weight objects. In addition, because of their flexibility, they can be effortlessly transformed into any size.
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