IndiaCorrugated Box market is expected to reach over INR 63,000 Crore by FY’2023
India corrugated box market segmentation is based on factors such as type of ply/box, end-users (FMCG, Automotive, Textile, Electronics & Appliances and Others), type of Box (Coloured and Non-coloured), type of players and type of sales as well as company profile of major players such as Horizon Packs Pvt. Ltd, Worth Peripherals, Supack Pvt. Ltd, TGI Packaging Pvt. Ltd, Jayaraj Fortune Packaging Pvt. Ltd, OJI India Packaging Pvt. Ltd, CEL Packaging, Hariwansh Packaging, CJ Corporation, Paper Containers India, Wadpack Pvt. Ltd, Chaitanya Packaging Pvt. Ltd., BL Containers Pvt. Ltd.
There are various factors that are going to drive the growth of corrugated box market.
- Increasing demand from fresh food and beverages, home & personal care goods, electronic goods industries will increase the reach of end users towards corrugated box manufacturers.
- Increasing the demand of safe and cushioned packaging of the product will augment the growth of India Corrugated box market.
- Rise in procurement of latest technology machines from China, Taiwan and other Asian countries by manufacturers in order to make production fast and accurate will also drive the future of India corrugated box industry
The growth in use of internet for shopping, stimulated by the growing use of smart phones as well as the increasing proportion of tech-savvy consumers, has a positive effect on corrugated demand, since it has direct influence on e-commerce market. Retail ready packaging is also increasing driven by the influence of supermarkets over the retail landscape and supported by their growing share of the retail market will also drive the corrugated box market in future.
Inline Automatic board and box making plants will ease out the present semi-automatic production processes and deployment of folder gluers, rotary die-cutters will grow in the future. Advances in multicolour, flexo printing will facilitate in-house flexo printing, do away with screen printing and contract printing on offset presses.
Corrugated packaging market worldwidegrowing steadily
- Growing population along with rise in income is boosting production of industries across the globe, which in turn is swelling the number of shipments.
- Corrugated packaging is often best for shipments through various industries.
- In the North America region, the U.S. market is the major material producer of corrugated packaging.
The ongoing internet shopping penetration in consumers is sowing a series of innovations in the market of corrugated packaging. Trends within corrugated packaging markets have clear relevance towards the consumption of corrugated board.
These are ranging from high demand for electrical goods to the slowing demand for paper products along with inclination towards light-weight boards which are expected to witness growth erosion in this sector of the corrugated packaging market.
A recently published analysis report illustrates the global market for corrugated packaging is predicted to expand in the forecast period from 2018 to 2028. The report describes various recent developments influencing the market growth of corrugated packaging globally.