The insulated corrugated boxes market is set to witness a CAGR of 4.3% during 2021-2031. The surge in demand for lightweight and convenient packaging solutions in a variety of industries, as well as the rising e-commerce and offline retail sectors, can be attributed to the market increase.
What is Driving Demand for Insulated Corrugated Boxes?
The rise of the e-commerce business has resulted in a massive demand for insulated corrugated cartons all over the world. The introduction of scale-open retail ecosystem platforms has also aided the e-commerce sector's growth. These platforms provide retailers with enticing options for expanding and growing their capabilities.
As a result, the success of online shopping platforms can also be attributed to initiatives like Amazon Prime Day, which was one of the largest shopping events in history in July 2019. This event fueled the need for corrugated boxes by resulting in massive product sales that necessitated vast numbers of corrugated boxes for packaging.
Furthermore, due to its great crush resistance and high structural strength, corrugated packaging has seen an increase in demand for manufactured products ranging from television sets and smartphones to edible goods such as chocolates. As a result, the expansion of the packaging sector is critical to the growth of the insulated corrugated boxes market.
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Trends in Insulated Corrugated Boxes Likely to Augment Sales
A prominent trend in the insulated corrugated carton is a greater emphasis on product recycling and sustainable packaging. Traditionally, corrugated boxes accounted for a significant amount of garbage because they were discarded after use, which had a negative influence on the environment.
Manufacturers across industries have begun to use new technologies for crushing and compaction, which aid in the recycling of corrugated boxes, to reduce trash accumulation. This results in the production of fiber, which can be utilized for a variety of purposes.
Opportunities in Insulated Corrugated Boxes Market
The logistics of insulated corrugated boxes has a lot of potential in developing countries like Brazil, India, and China because of their high growth potential. These countries also have a large supply of raw materials. The manufacturing sector, which includes food and drinks, automobiles, electronics, and chemicals, has benefited from China and India's strong economic growth.
As a result, the increased use of packaging across a variety of food products, particularly meat, fish, and poultry products, is driving demand for insulated corrugated cartons in the above- mentioned developing countries, as well as providing opportunities for corrugated box manufacturers in these countries to offer more variety.
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Impact of Covid- 19 on Insulated Corrugated Boxes Market
COVID-19 had a significant impact on the global insulated corrugated box market in the early 2020. End-use businesses such as healthcare and e-commerce suffered significant revenue losses as a result of the epidemic. Furthermore, the coronavirus-induced shutdown halted production of several critical raw materials on the worldwide market, causing costs to rise and demand for corrugated packaging to fall.
Whereas, on the other hand the market did not experience a major setback as a result of the COVID-19 outbreak because corrugated boxes are the backbone of the supply chain. The increased use of these boxes for the supply of goods to hospitals, pharmacies, shops, and grocery stores has resulted in a major increase in demand for these boxes.
US and Canada Insulated Corrugated Boxes Market Outlook
US is considered as the lucrative market for insulated corrugated boxes market globally. The expansion of the insulated corrugated carton market in North America will be aided by increased trade between nations as a result of expanding globalization. Its versatility allows it to be used in a wide range of industries, including food and beverage, cosmetics and personal care, pharmaceuticals, and chemicals. These boxes helps to keep internal contents from spoiling as a result of temperature fluctuations.
Furthermore, rising packaged edible product consumption will have a positive impact on market growth due to increased processed food exports in the region.
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Europe Demand Outlook for Insulated Corrugated Boxes
The expanding food & beverage and cosmetics & personal care industries are two significant reasons driving the insulated corrugated carton market in Europe. In European nations such as France, Germany, Russia, and the United Kingdom, increased consumption of ready meals and other convenience-oriented items is also pushing the insulated corrugated cartons industry.
Furthermore, the growing demand for packaged food as a result of the faster pace of life and changing lifestyles of people propels the industry forward. Over the projection period, key advantages such as increased shelf life of food products, ease of handling, and efficacy in the avoidance of material contamination will also fuel market expansion.
Who are the Key Manufacturers and Suppliers of Insulated Corrugated Boxes?
Some of the leading manufacturers and suppliers of insulated corrugated carton include
Hangzhou Qiyao New Material Co. Ltd
Shandong Green Plastic Co. Ltd
Larsen Packaging Products Inc.
Deluxe Packaging Inc.
Associated Bag
Albert Paper Products
Apple Ltd., Yamakoh, Co. Ltd.
Rengo Co., Ltd.
Oji Holdings Corporation, Shanghai DE Printed Box, and among others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
