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The US corrugated box market size is forecast to increase by USD 1.21 billion, at a CAGR of 2.21% between 2023 and 2028. Market growth in the current landscape hinges on several pivotal factors. Firstly, increased market consolidation among key players fosters economies of scale and enhances market stability, driving overall growth. Secondly, the burgeoning demand for e-commerce channels provides unparalleled reach and accessibility, catering to a broader consumer base globally. Additionally, the rise of retail-ready packaging (RRP) facilitates efficient shelf stocking and enhances product visibility, thereby optimizing logistics and boosting sales. These dynamics collectively propel market expansion, offering manufacturers and retailers strategic opportunities to capitalize on evolving consumer preferences and industry trends. As businesses adapt to these transformative forces, the market for various products is poised for robust growth, supported by streamlined supply chains and enhanced customer convenience through digital platforms and innovative packaging solutions.
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The market is experiencing a significant shift towards sustainability and eco-friendly materials. As consumers increasingly favor online shopping, customized corrugated packaging solutions have become crucial. Graphic design plays a pivotal role in enhancing paper-based packaging, meeting the demands of various industries like electronics, consumer goods, and aluminum. Dental hospitals and clinics opt for lightweight, durable corrugated boxes for disposable containers. Manufacturers specializing in packaging solutions capitalize on these trends by offering flexible designs in various sizes, colors, and graphics. The market's growth is further driven by the rising e-commerce retail sales and the preferences of online buyers for environmentally friendly packaging. With raw material focusing on eco-friendly alternatives, corrugated boxes continue to dominate the packaging industry, providing sustainable solutions across diverse sectors in the US.
Growing demand for e-commerce is notably driving the market growth. The growing e-commerce sector has led to an increase in demand for corrugated boxes for the shipment of products. Online retailers use different types of corrugated boxes according to the type of product being transported. These boxes ensure the safe delivery of products due to their strength and durability. In addition, effective packaging is becoming one of the key business requirements in the e-commerce market place, thus fueling the growth of the market. The e-commerce sales show an increasing trend during Christmas Eve, i.e., between November and December, as Christmas is the biggest commercial holiday in the US. The seasonal e-commerce sale will also fuel the sales of corrugated boxes, as 60% of the products sold through e-commerce channels require corrugated boxes for packaging. Therefore, growing demand for corrugated boxes from e-commerce is expected to drive the growth market during the forecast period.
Corrugated boxes aid environment sustainability is an emerging trend shaping market growth. Sustainable packaging is the major feature expected by the clients of packaging manufacturers. The packaging industry is facing a lot of pressure in terms of environmental issues, as it is estimated that 29% of landfill waste produced is from the packaging segment. Considering these factors, corrugated boxes meet all the regulatory demands of both packaging manufacturers and their clients. Corrugated boxes are the most recovered form of packaging, as 91% of all corrugated boxes produced can be recycled with limited effort. Corrugated packaging is considered an environment-friendly and sustainable form of packaging compared with other forms of packaging, such as plastics. These boxes are made up of recycled materials; almost 46% of the materials used in corrugated packaging are recycled. This helps corrugated box manufacturers to reduce the environmental impact, thus ensuring sustainability. In addition, there are several industry standards and government regulations that ensure environmental safety during the production of corrugated boxes.
The impact of the just-in-time inventory model is a significant challenge hindering marke growth. End-users of corrugated boxes prefer just-in-time inventory rather than traditional storage inventory because these boxes require more inventory space, which increases the inventory maintenance cost. With a just-in-time inventory model, consumers of corrugated boxes save 20% to 30% of the inventory space. In addition, consumers will demand corrugated boxes for other storing purposes. It is hard for corrugated box manufacturers to forecast the demand, which is two weeks ahead. However, corrugated box manufacturers can overcome this issue by outsourcing the inventory to third-party inventory control for efficient operations. Many leading players in the market prefer third-party inventory control to an in-house inventory system, which can become a major challenge for the growth market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Acme Corrugated Box Co. Inc. - The company offers corrugated box that includes board grades, standard boxes, heavy duty boxes, micro flutes and water-resistant boxes
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The food and beverage products segment is estimated to witness significant growth during the forecast period. The market for corrugated box packaging in the food and beverage products sector in the US is likely to witness steady growth during the forecast period. The US is a developed economy with a high per capita income. The products have a high propensity to be affordable for the high-income population. The growing demand for processed food and ready-to-eat products has increased the demand for packaging, thus driving the growth of corrugated boxes. In the US, food and beverage products cover more than 50% of the market. Also, food and beverage product manufacturers are using corrugated display boxes as an effective marketing tool to advertise their products.
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The food and beverage products segment was the largest and was valued at USD 4.58 billion in 2018. In recent years, the demand for processed food and ready-to-eat products has increased significantly due to the growing population. Also, the growth in the per capita income of consumers has increased the affordability of packaged food and drinks, which were once considered to be affordable only for the high-income population. Thus, an increase in the demand for food and beverage products will increase the demand for corrugated box packaging, which will boost the growth of the market during the forecast period.
The market research report provides comprehensive data, with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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The market is evolving with a sustainable approach, focusing on eco-friendly material packaging solution manufacturers and customizable packaging solutions offered by leading manufacturers. Flexible plastic packaging products reduce packaging weight, lowering shipping and warehousing costs. The industry emphasizes reducing greenhouse gas emissions and adhering to stringent environmental standards, minimizing energy consumption and environmental impacts. Corrugated boards, comprising flute and linerboard, use both recycled and virgin materials, catering to various sectors like food & beverages, electronic industry, and personal care. E-commerce platforms drive demand for flexible and sturdy packaging, particularly in the electronics and personal care industries. Sustainable practices include using water-based inks and recyclable materials, enhancing brand awareness and ensuring product protection. The market thrives on innovation in digital printing and manufacturing methods, contributing to waste reduction and supporting sectors from fresh produce to electrical goods in their packaging needs.
Market Scope |
|
Report Coverage |
Details |
Page number |
121 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.21% |
Market Growth 2024-2028 |
USD 1.21 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.1 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Acme Corrugated Box Co. Inc., Amcor Plc, Associated Bag, Buckeye Corrugated Inc., Cascades Inc., DS Smith Plc, Georgia Pacific, Great Little Box Co. Ltd., Hood Container Corp., International Paper Co., Kruger Inc., Mondi Plc, Neway Packaging Corp., Packaging Bee, Packaging Corp. of America, Shillington Box Co LLC, Stora Enso Oyj, VPK Group, Wertheimer Box Corp., and WestRock Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Material
8 Customer Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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