Corrugated boxes are usually recommended for shipping fragile and heavy consumer goods as they have greater pressure resistance and more structural strength than regular cardboard boxes. Corrugated boxes are used to transport a wide range of manufactured products, starting from consumer electronics like smartphones and television sets to edible items, such as candies. The burgeoning demand for manufactured goods has given a boost to the packaging industry, which has further increased the consumption of corrugated boxes worldwide.
Moreover, the expanding e-commerce sector is also expected to propel the corrugated boxes market at a CAGR of 4.3% during the forecast period (2020–2030). According to P&S Intelligence, the market was valued at $180.9 billion in 2019 and it is projected to generate $284.6 billion revenue by 2030. The expansion of the e-commerce industry can be attributed to the high penetration of smartphones and the internet, development of the delivery ecosystem, and aggressive-discount-driven sales.
The flute type segment of the corrugated boxes market is classified into A, B, C, E, and F. Among these, the C category generated the highest revenue in 2019 due to the high stacking strength, excellent crush resistance, and suitability for high-quality printing of the C-flute. It is widely used in corrugated boxes used for shipping glass products, dairy products, and furniture. Additionally, the combination of C flute with B and E flute types is used in the production of double-wall boxes, which are utilized for transporting heavier products.
Globally, the Asia-Pacific (APAC) corrugated boxes market is expected to generate the highest revenue and demonstrate the fastest growth throughout the forecast period. This can be ascribed to the soaring environmental awareness, mounting requirement for personal care products and electronic goods, surging focus on sustainable packaging, and booming e-commerce industry in the region. Besides, the increasing availability of raw materials and rising government effort to promote the manufacturing of environmentally viable products will also contribute to the market growth in the region.
Therefore, the expanding packaging industry and booming e-commerce sector will create a huge requirement for corrugated boxes.