The Global Heavy-Duty Corrugated Boxes Market is expected to grow at a CAGR during the forecasting period (2021-2028).
Heavy-duty corrugated boxes are a type of packaging produced by corrugated cardboard and consist of three different grades depending on the type of strength required. The type includes single wall, double wall and triple wall of corrugated cardboard. These are extensively used for the packaging of heavy consumer’s electronics such as refrigerators, washing machines etc. As heavy-duty corrugated boxes are made from durable materials which provide superior protection for bulky goods and facilitate safe long-distance transport.
Heavy-duty corrugated boxes are substantially used in end-user industries such as industrial machinery transportation & packaging, consumers electronics, agriculture, food and beverage processing, crockery and glassware, consumer good and appliances.
Source: DataM Intelligence Analysis (2019)
The global heavy-duty corrugated boxes are driven by rising online shopping through E-commerce sites of consumers electronics, industrial machinery with an increasing number of small, medium and large scale industries around the globe. The further market is driven by rising demand for the packaging of medical devices, food processing machinery and other manufacturing industries.
Rising demand of the online shopping through E-commerce sites of the consumer's electronics by the logistic companies drives the heavy-duty corrugated boxes market
The market is driven by the surge in online shopping through e-commerce websites with growing consumers of electronics home appliances around the globe. According to UNCTAD, the global e-commerce sale increased by 13% in 2017 reached around US$ 29 trillion this is primarily due to a surge in the number of online shoppers.
Further rising demand for consumers electronics in developing countries due to growing population demand has propelled the heavy-duty corrugated boxes market. For instance, as per the India Brand Equity Foundation Organization in 2019, the consumer electronics and appliances sale reached around US$ 10.93 billion and is projected to reach around US$ 21 billion by 2025 in India.
Rising industrial machinery demand in food processing units as well as rising demand for corrugated packaging of the medical devices
An increase in the food processing units and a surge in the prevalence of chronic ailments have boosted the demand for machinery and medical devices. It created a massive demand for the packaging of the above mentioned medical devices furniture, equipment, machinery which ultimately boost the heavy-duty corrugated boxes market.
Rising international trade of goods around the globe have created a huge demand for this market
Rising international trades with the surge in the number of export and import activities around the globe has propelled the demand for the heavy-duty corrugated market. For instance, as per the World Trade Organization report, the world’s merchandise export reached around US$ 19.48 trillion in 2018 increased from US$ 17.33 trillion in 2017. It created a massive demand for heavy-duty corrugated boxes for the packaging of commercial goods.
Growing demand for recyclable, compostable and sustainable packaging solutions and the growing expansion of businesses with environment-friendly packaging may create a huge opportunity for this market
COVID-19 Impact Analysis
The global heavy-duty corrugated boxes market has shown slight declination due to the COVID-19 pandemic, as several leading manufacturing industries were closed. Several countries have restricted the import and export activities during the covid-19 pandemic. As international trade began in June 2020, demand for heavy-duty corrugated boxes began.
Further, several leading manufacturers started production which created a huge demand for heavy-duty boxes for packaging of the goods all over the world. The demand remained constant in Aug 2020 and will increase as soon as the pandemic will over. Further, several leading players have launched e-commerce websites to facilitate the services to the consumers of the necessary things such as foods, pharmaceutical medicines etc. For instance, on 3rd Sept 2020, Macpac launched a new e-commerce site that provides bakery packaging and general food trays to the horticulture range to the consumers.
The global heavy-duty corrugated boxes market is segmented based on types, material, function, end-users and region.
Rising demand for double wall corrugated boxes for the packaging of n manufacturing facilities and retail outlets have boomed the heavy-duty corrugated boxes market
In terms of product, the global heavy-duty corrugated boxes market is bifurcated into single wall boxes/3 ply, double-wall boxes/5 ply, triple wall boxes/7 ply, slotted boxes, telescope boxes, die-cut boxes, folder boxes, pallet boxes and others. Among these, double-wall 5 ply boxes has the highest market share in 2019, owing to their high strength and rigidity to sustain heavy loads of the goods.
Further rising demand by the manufacturing facilities and retail outlets due to increasing population with the surge in the consumers spending of the people of the developing region. As per the India Brand Equity Foundation Organization in 2018, in Indian retail industry reached US$ 950 billion in 2018 at a CAGR of 13 per cent and is projected to grow US$ 1,100 billion by 2020.
Similarly, double-wall boxes/5 ply, triple wall boxes/7 ply, slotted boxes, telescope boxes, die-cut boxes, folder boxes, pallet boxes segments are also growing at a faster pace owing to rising demand by the logistic companies to transport goods. For instance in the United States, Logistics Business reached around US$ 1.6 trillion in 2018. It created a massive demand for heavy-duty corrugated boxes in this region.
Based on types, the global heavy-duty corrugated boxes market is divided into testliner, liner, kraft liner, fluting medium, semi-chemical fluting, single cover boxes, double cover boxes and others. Among these, the double cover boxes segment has the highest share in 2019, owing to increasing the demand by the international traders for packaging of the goods as well as a surge in import and export activities around the globe.
Based on the capacity, the global heavy-duty corrugated boxes market is divided into up to 50Kg, 50 Kg to 100 Kg, and above 100Kg. Among these, the 50 Kg to 100 Kg segment has the highest share in 2019, owing to increasing demand for The large shares of Europe and Asia in world merchandise exports and imports give these regions an outsized influence on global trade growth.
With exports valued at US$ 7.11 trillion and imports at US$ 7.15 trillion in 2018, Europe accounted for 37 per cent of world merchandise trade on both the export and import side. Asia’s exports of US$ 6.91 trillion gave it a 34 per cent share while its imports of US$ 6.76 trillion accounted for 33 per cent of the world total.
Increasing demand for corrugated boxes with weighing capacity for the logistic sector for packaging for the end-user industries such as consumer electronics, manufacturing businesses, packaging companies etc.
Based on capacity, the global heavy-duty corrugated boxes market is divided into logistics, pharmaceutical, cosmetics & personal care, food & beverages, consumer electronics, automotive, chemicals industry and others. Among these, the logistics segment has the highest market share in 2019, this is primarily due to rising demand by the logistics companies to transport the goods safely at required locations.
For instance, As per the Scientific Research Publishing Organization report in 2019, the global logistics sector was valued at around US$ 4 trillion which propelled the demand for the heavy-duty corrugated boxes market over the study period. Similarly, pharmaceutical, cosmetics & personal care, food & beverages, consumer electronics, automotive, chemicals industry segments are also growing at the fastest speed due to the rising production of automotives in the developing region.
Source: DataM Intelligence Analysis (2019)
Asia-Pacific region holds the largest market share global Heavy-Duty Corrugated Boxes market
Asia-Pacific region is dominating the global heavy-duty corrugated boxes market accounted for the largest market share in 2019, due to the presence of the manufacturing companies, growing industrialization, and rising population demand of the heavy-duty corrugated boxes by the logistic sector in this region followed by North America and Europe.
As per the India Brand Equity Foundation Organization, India’s logistics cost is valued at around US$ 260 billion representing 13% of total India’s GDP whereas the United States is around 9% of its GDP. It created a massive demand for heavy-duty corrugated boxes due to development in the logistic sector to result in ease of production. Similarly, North America is also growing at the fastest speed owing to the presence of the leading corrugated box manufacturing companies.
As per the corrugated Organization in the United States in 2019, there are over 1,154 corrugated manufacturing facilities that employed approximately 100,000 in nearly 1,000 cities and towns. Further increasing import and export activities of the pharmaceutical goods, consumer electronics etc. As per the World Trade Organization in 2018, North America North America’s exports and imports activities were valued at around US$ 2.56 trillion and US$ 3.56 trillion respectively.
The heavy-duty corrugated boxes market is moderately competitive with the presence of local as well as global companies. some of the key players which are contributing to the growth of the market include Berry Plastics Group, Inc, Amcor Limited, Constantia Flexibles Group GmbH, Bemis Company, Inc, Sonoco Company, Avery Dennison Corporation, 3M Company, E.I. du Pont de Nemours and Company, CCL Industries Inc., WestRock Company and among others.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the heavy-duty corrugated boxes market globally. For instance, on 7th July 2020, CCL Industries Inc. has completed the acquisition of the InTouch Label and Packaging Co., Inc based in near Boston, Massachusetts for around US$ 10.9 million.
Overview: Amcor Plc, founded in 1860, office-based Melbourne, Australia. Amcor Plc has manufacturing facilities for corrugated boxes, cartons, aluminium and steel cans, flexible plastic packaging, polyethylene terraphthallate (PET) plastic bottles and jars, closures, and multi-wall sacks. The Company has a manufacturing facility in 39 countries across the globe. The Company is one of the global leaders in developing and producing responsible packaging for food, beverage, pharmaceutical, medical, home- and personal care, and other products. The annual sale of the company reached around US$ 12.5 billion.
Product Portfolio: The Company has a diverse product portfolio of Heavy-Duty Corrugated Boxes includes: Corrugated Boxes, Cartons, Aluminum And Steel Cans, Flexible Plastic Packaging, Polyethylene Terraphthallate (Pet) Plastic Bottles And Jars, Closures, And Multi-Wall Sacks
Key Development: In July 2017 Amcor made a partnership with Moda for expansion of the vacuum packaging systems business in North America and Latin America as well as to offer innovative packaging solutions.
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The global Heavy-Duty Corrugated Boxes market report would provide an access to an approx. 79 market data table, 816 figures and 180 pages.
Target Audience 2022
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