Corrugated box market in US to grow at a CAGR of 3.32% from 2021 to 2026: Georgia

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20 Jun, 2023, 22:15 ET

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NEW YORK, June 20, 2023 /PRNewswire/ -- The size of the corrugated box market in US is estimated to increase by USD 1.85 billion from 2021 to 2026. The market's growth momentum will progress at a CAGR of 3.32%. The increased market consolidation is driving the market growth. Manufacturers prefer inorganic growth, as M&A and partnerships will help them grow at a faster pace through technological innovations. This leads to market consolidation, wherein large vendors acquire or enter into partnerships with small vendors. For instance, in February 2021, Mondi Group partnered with BCoolBox, a company that provides 100% recyclable and reliable packaging solutions to transport fresh food. Such factors will fuel market growth during the forecast period. Discover some insights on market size and forecast period (2022-2026) before buying the full report - Request a sample report

Corrugated box market in US – Vendor analysisVendor landscape –

The corrugated box market in US is fragmented, with the presence of large, medium, and small-scale vendors. A few prominent vendors that offer corrugated boxes are Acme Corrugated Box Co. Inc., Amcor Plc, Associated Bag, Buckeye Corrugated Inc., Cascades Inc., DS Smith Plc, Georgia-Pacific LLC, Hood Container Corp., International Paper Co., Kruger Inc., Mondi plc, Neway Packaging Corp., Packaging Bee, Packaging Corp. of America, Shillington Box Company LLC, Stora Enso Oyj, VPK Group, Wertheimer Box Corp., WestRock Co., and Great Little Box Company Ltd and others.

Most large and established vendors sell and distribute their offerings to customers globally, while most small vendors are concentrated in regional markets. Vendors compete based on factors such as price, quality, innovation, reputation, brand identity, and distribution. High product differentiation among vendors further intensifies the competition in the market. Hence, to thrive in such a competitive environment, it becomes imperative for vendors to differentiate their product offerings through a clear and unique value proposition.

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Corrugated box market in US - Segmentation assessmentSegment overviewTechnavio has segmented the market based on end-user (food and beverage products, non-durable products, and durable and others) and material (virgin corrugates and recycled corrugates).

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Corrugated box market in US – Market dynamicsKey trends - Rapid advances in printing are one of the key market trends contributing to market growth. Printing on packaging boosts the visual appeal of a product, thereby adding value to its brand visibility. Corporations are investing significantly in R&D to innovate corrugated box printing. Printing different types of containers requires new types of machinery and skilled manpower, starting from the manufacturing process to the selection of raw materials, based on customer requirements. Thus, rapid advances in printing are expected to support the market's growth during the forecast period.

Major challenges - The impact of the just-in-time inventory model is challenging market growth. End-users prefer just-in-time inventory over traditional storage inventory. This is because corrugated boxes require more inventory space, which increases the inventory maintenance cost. Moreover, consumers also demand corrugated boxes for other storage purposes, and it is difficult for manufacturers to forecast the demand weeks in advance. This issue can be overcome by outsourcing the inventory to third-party inventory control for efficient operations, which can become a major challenge for the growth market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

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Related Reports:

The corrugated box market is expected to grow by USD 17.53 billion during 2021-2026, accelerating at a CAGR of 4.94% during the forecast period. Furthermore, this report extensively covers market segmentation by end-user (food and beverage, non-durable products, and durable and other products) and geography (APAC, Europe, North America, South America, and the Middle East and Africa).

The size of the corrugated box market in Europe is projected to grow by USD 4.66 billion with a CAGR of 4.68% during the forecast period 2021 to 2026. Furthermore, this report extensively covers segmentation by end-user (food and beverages, electronic goods, personal and household care goods, and others) and geography (Western Europe and Central and Eastern Europe).

Corrugated Box Market Scope in US

Report Coverage

Details

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 3.32%

Market growth 2022-2026

USD 1.85 billion

Market structure

Fragmented

YoY growth 2021-2022 (%)

2.44

Competitive landscape

Leading vendors, market positioning of vendors, 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 LLC, Hood Container Corp., International Paper Co., Kruger Inc., Mondi plc, Neway Packaging Corp., Packaging Bee, Packaging Corp. of America, Shillington Box Company LLC, Stora Enso Oyj, VPK Group, Wertheimer Box Corp., WestRock Co., and Great Little Box Company Ltd

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, and market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by End-user

6 Market Segmentation by Material

7 Customer Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

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