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Global Multi-Depth Corrugated Box Market InsightDecember 30, 2021 Comments
The multi-depth corrugated box is forecast to continue rising over the next four years. According to the World Knowledge Information (WKI) “Global Multi-Depth Corrugated Box Professional Survey Report 2020, Forecast to 2025”, The high tensile strength and easy customization of multi depth corrugated boxes are the main factors driving the growth of multi depth corrugated box market.The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 5.32% base on WKI regression analysis model.
“The “personalization” factor has dominated and is forcing top brands to customize their boxes. Therefore, the multi depth corrugated box in line with contemporary consumer aesthetics has broad development space.”said Selena, Senior analyst, Chemicals Goods Market Research Center in WKI. “It is suggested that multi deep corrugated box industry participants should actively carry out technology development, reduce production costs and occupy more market share.”
Due to the rapid industrialization of various countries, especially in emerging economies, it will promote the market development of multi depth corrugated boxes. In addition, the innovation of multi-layer corrugated box design leads to the increase of packaging demand for various food and beverage, cosmetics, home care products and drugs, which will also promote the growth of multi-layer corrugated box market. In order to meet the continuously improving standards of international quality packaging multi depth corrugated box manufacturers, manufacturers all over the world show a high tendency of innovation, ensure quality assurance, adopt the latest technology to realize modernization, install high-speed automatic machines, and combine management systems and technologies to realize the efficient operation of the factory. Due to the increasing demand for packaging in the electronics and automotive industries, multi depth corrugated boxes are expected to grow significantly in the near future.
However, there are still many problems that need to be paid attention to by participants in the corrugated box industry. For example, continuous technological innovation requires a lot of R & D expenses, which will limit the expansion of the corrugated box market to a certain extent.
The main player of multi depth corrugated boxes market are DS Smith plc, International Paper, MeadWestvaco Corporation, Mondi Group, Nampak Limited, Nine Dragons Paper, Packaging Corporation of America, Smurfit Kappa Group,VPK Packaging Group and others.
Segmentation of Multi-Depth Corrugated Box Market:
According to the type, the global multi depth corrugated box market can be divided into single wall, double wall and others. Among them, single wall panel is the most common type of panel on the market, which can be used for all products from shipping boxes to retail display. According to the application, the global multi depth corrugated box market can be subdivided into beverage and food, cosmetics and personal care products, pharmaceutical, industrial chemicals, electronics, automobile and others. The food and beverage sector has the largest market share among end users. Corrugated boxes are increasingly used in beverage packaging, which is one of the key factors to promote the development of this market segment. In addition, the expansion of e-commerce and the growing demand for sustainable packaging will also increase the demand of the global food and beverage industry, thus promoting the scale expansion of this segment.
Multi-Depth Corrugated Box Market: Regional Analysis
In terms of geography, the global multi-depth corrugated box market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa.At present, North America dominates the global multi depth corrugated box Market and is expected to continue to dominate in the forecast period. This is mainly due to the improvement of per capita income and industrialization, as well as the strong consumer base in countries such as the United States and Canada. In addition, the mature e-commerce sector in the region has further increased the demand for retail packaging, which is expected to drive market growth due to its time-saving and labor cost saving characteristics. The Asia Pacific region is expected to become the fastest growing region in the global multi depth corrugated box market. The increasing industrialization of emerging economies in the region (such as India and China) has expanded international trade, thus promoting the demand for multi-layer corrugated boxes for cargo transportation and the expansion of the global multi-depth corrugated box market.
Largest share area：North America
Largest share country：the United States