Global Corrugated Box Market: Key Highlights
Global Corrugated Box Market: Key Market Dynamics
Global Corrugated Box Market: Regional Overview
The corrugated box market in the Asia Pacific is expected to witness growth in the forecast period owing to rise in demand for green packaging coupled with growing e-commerce sales. As per the E-Commerce in a Global Environment report, E-commerce sales in the Asia Pacific reached USD 808 billion in 2017 from USD 19.84 billion in 2011. In addition to this, ongoing economic development, increasing per capita income, higher demand for processed food products and beverages in countries such as China and India are projected to boost the demand for sustainable packaging. This further escalates regional market growth.
In North America, the corrugated box market is booming on the grounds of higher environmental awareness in countries such as the United States and Canada. Increased penetration of the internet leading to higher use on online sites for shopping purposes, has created a higher demand for the corrugated boxes in the North America region.
Global Corrugated Box Market: Key Players Overview
Rengo Co., Ltd., is a Japan based manufacturer that produces paperboard, corrugated packaging, folding carton, heavy-duty packaging, and other products to boost product safety. In 2019, the company announced that it has acquired maximum (80%) shares along with the voting rights of Japan based NISHIHARA-SHIGYO Co., Ltd. for expansion of Rengo Group’s corrugated packaging business.
Smurfit Kappa, an Ireland based corrugated packaging company that engages in the manufacturing and distribution of the corrugated packaging boxes. These boxes are used in bakery, chemical, confectioneries, snacks, dairy products, health and beauty, meat, fish and poultry business. The company offers a range of products across the Americas and Europe.
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