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 analysis Vendor landscape – coated art paper
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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Georgia-Pacific LLC - The company offers corrugated boxes that include sheets with a wide variety of flute sizes and combinations.
International Paper Co. - The company offers corrugated boxes, such as complete corrugated packaging solutions for agricultural, consumer goods, and industrial applications.
Kruger Inc. - The company offers corrugated boxes, such as containers for food, beverages, dairy products, meat, fruits and vegetables, flowers, chemicals, textiles, clothing, and more.
Mondi plc - The company offers corrugated boxes, such as shelf-ready packaging, automotive logistics packaging solutions, hazardous goods packaging and shipping boxes, barrier packaging, and inserts and dividers.
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Corrugated box market in US - Segmentation assessment Segment overview Technavio 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).
The food and beverage products segment will account for a significant share of market growth during the forecast period. The rise in per capita incomes of consumers has increased the affordability of packaged food and drinks. This, in turn, has led to a rise in the demand for food and beverage products. In addition, food and beverage product manufacturers use corrugated display boxes as a marketing tool. These factors will drive the growth of this segment during the forecast period.
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Corrugated box market in US – Market dynamics Key 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.
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What are the key data covered in this report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the corrugated box market in US between 2022 and 2026
Precise estimation of the size of the corrugated box market in US and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the corrugated box market in US
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of corrugated box market vendors in US
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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
Accelerate at a CAGR of 3.32%
Leading vendors, market positioning of vendors, competitive strategies, and industry risks
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
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.
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3.4 Market outlook: Forecast for 2021-2026
5.3 Food and beverage products - Market size and forecast 2021-2026
5.4 Non-durable products - Market size and forecast 2021-2026
5.5 Durables and others - Market size and forecast 2021-2026
6.3 Virgin corrugates - Market size and forecast 2021-2026
6.4 Recycled corrugates - Market size and forecast 2021-2026
8.3 Impact of drivers and challenges
10.3 Acme Corrugated Box Co. Inc.
11.3 Currency conversion rates for US$
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