Corrugated board packaging is an advanced packaging material developed to protect, pack, and dispatch the products. The increasing shift of the buyers towards lightweight, has encouraged the packaging sector to provide corrugated board packaging solutions in the market. It aims to explore the organized retail industry and fulfil the rising demands from the customers. Since the corrugated board is biodegradable, bio-based, and recyclable, the requirement for these boards is foreseen to project a significant growth in the corrugated board packaging market in future.
Corrugated Board Packaging Market: Novel Development
- Further, a recent report by the University of Bologna demonstrated that corrugated board keeps sustenance new as long as three days longer, by decreasing tainting, in this way driving the reception of corrugated board for packaging process. In addition, FEFCO/ESBO International Good Manufacturing Practice’ (GMP) Standard has additionally affirmed that corrugated board items fulfill all necessities of the sustenance business, as far as quality, wellbeing, and cleanliness.
- Packaging box producers, for example, Mondi, are taking measures to lessen the heaviness of the packaging given, and receiving corrugated boxes. The organization propelled ProVantage, a high-fiber compartment board produced using reused fiber, and provide lightweight and high packaging quality.
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- Driving retailers, for example, Walmart, have additionally plot forceful manageable packaging objectives at the World Economic Forum, to move in the direction of utilizing 100% reusable or compostable packaging, by 2025 or even before. These activities are anticipated to offer ample of scope for the development of the corrugated board packaging market, over the forthcoming yearse. Nonetheless, issues identified with unpredictable crude material costs are assessed to challenge the development of the market examined.
- In April 2017, a firm, Rengo Co., Ltd. based in Kita-ku, Osaka, announced about a Thai Containers Group Co., Ltd. (TCG), which is a joint venture among SCG Packaging Public Company Limited (a subsidiary of The Siam Cement Public Company Ltd.) and Rengo, has acquired around 80% of stake in PT Indocorr Packaging Cikarang. It is a key manufacturing firm of corrugated board packaging operated in eastern Jakarta.
- During April 2019, Cascades Inc. contributed USD 80 million on the development of another containerboard packaging plant in New Jersey, the United States. This new plant is ready to make corrugated packaging items, and the entire yearly production capacity of this plant would be 2.4 billion square feet.
The key players operating in the global board packaging market are Kappa Group, International Paper Company, Klabin SA, Rengo Co. Ltd, Georgia-Pacific LLC, Sealed Air Corporation, Nippon Paper Industries Ltd, Europac Group, Cascades Inc., Amcor Limited, Klingele Papierwerke GmbH & Co. KG, and so on.
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Corrugated Board Packaging Market Dynamics
Rising Preference for Environmental Issues to Contribute in Market Growth
Change in customers’ preferences with respect to environmental concerns is affecting the demand positively in the global corrugated board packaging market. Because of rapid urbanization, rising adoption of a different lifestyle, food habits, and trends, the demand in processed foods sector is rising as well. This as a result, is churning the importance of high-quality food for the consumers, augering the growth of global corrugated board packaging market in future. As corrugated board packaging protects the product from moisture and survives long shipping durations. This also provides improved results to the buyers. This is another aspect to support corrugated board packaging market growth.
North America to Lead Globally Due to Strong Financial Hold
Regionally, North America is known for its strong financial state which makes the region to invest significantly in advanced technologies and solutions. These benefits have enabled the regional firms to have a competitive edge across the global corrugated board packaging market. In addition, the region also has the presence of huge number of manufacturers dealing in corrugated board packaging, for example, Georgia-Pacific LLC (United States), International Paper Company (United States), Sealed Air Corporation (United States), and so on.