Owing to the rising disposable income of people and expanding e-commerce industry, and the growing preference for online shopping, the packaging industry is registering significant growth. It is quite obvious that since the delivery of products is a sensitive job, the packaging needs to be sturdy enough to support different kinds of objects. In addition to all this, as this industry is also responsible for a massive amount of pollution, particularly caused by discarded plastic packaging, there is a pressing need for alternate solutions. Due to the increasing concerns regarding the environment, strict regulations, and rising focus on reducing carbon footprint, the packaging industry in being compelled to come up with solutions that are less harmful.
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One of such solutions is the development of corrugated packaging, which is made from natural materials and has the highest recycling rate. A corrugated box is made up by combining two sheets of paper that are referred to as liners, which are glued to the fluting, a corrugated inner medium. The three layers are assembled to provide the overall structure of the box enhanced strength. Attributed to these factors, the global corrugated packaging market is predicted to generate revenue of $294.3 billion by 2023, rising from $237.5 billion in 2017, at a CAGR of 3.7% during the forecast period (2018–2023).
Apart from this, the demand for corrugated packaging solutions is also expected to rise considerably for personal and household care products in the years to come. Because of the increased disposable income of people, the adoption of different personal and household care products has risen in the past few years, and manufacturers are widely adopting corrugated packaging for these products. Geographically, the Asia-Pacific (APAC) region has been the largest corrugated packaging market up till now, and it is further projected to retain its position in the near future.
The domain in APAC is primarily being driven by the growing requirement for corrugated packaging from the processed food industry in countries including India and China. While China is the major consumer of these packaging solutions at the present time, due to the high industrial production, the demand for corrugated packaging is also predicted to rise in Japan during the forecast period, as the country is one of the key consumers of automotive parts and consumer electronics in APAC.