The global wax boxes market is anticipated to witness a market value of US$ 2.8 billion in 2023 and is expected to harness a market value of US$ 5.9 billion by reflecting a CAGR of 7.7% in the forecast period 2023 to 2033. The market for Wax boxes market registered a CAGR of 3.9% in the historical period 2018 to 2022.
The eco-friendly and easy to recycle nature of wax boxes is fuelling up the product demand. These boxes are cost-effective in terms of price which does not add extra burden on companies in spending huge amount for packaging solutions. The ability of these boxes to in keeping food fresh which benefits the food e-commerce industry is driving the growth of this industry. They are highly preferred by the meat processing industry and other food suppliers which is expected to boost demand in the projected period as well due to prospering food industries across the world. Seafood containers or wax boxes are specifically designed for transporting chilled and frozen fish which is also anticipated to aid in industry expansion.
With increasing growth opportunities in the food industry, the sales of wax boxes will witness an upward growth in the coming years. These boxes are majorily preferred by packaging industries as well because they take up less space during transportation. Increasing popularity of these boxes for branding and promotions as they support graphic design and provide a clear visual appearance is also spurring growth of this market. In order to ensure the product quality remains top notch, the demand for the wax boxes around the world is continuously surging which is benefiting growth of the market.
Geographically, North America is expected to witness significant growth in the market of wax boxes. This region is expected to reflect CAGR of 5.4% during the projected period. Consumption of food packaging-oriented solutions is anticipated to drive growth in this region. The demand of wax boxes is higher in the United States, while Canadian wax boxes have a slightly less market share.
Likewise, the market in Asia Pacific is projected to account for maximum market share of around 39.4% during the forecast period. Growth in this region is attributed to the surging demand for packaging materials across food and beverage industries, pharmaceuticals, chemicals, automotive, electronics, and others. Furthermore, increasing disposable income among consumers coupled with mounting urbanization trends has led to increased demand of packaged goods. Also, growing consumer awareness about environmental issues and lifestyle changes are further boosting the market growth and has resulted in shifting inclination towards reusable packaging solutions. China is projected to dominate the wax Boxes Market during the forecast period owing to its huge population base, rising per capita income and thriving e-commerce packaging industry. Additionally, the country’s manufacturing industry is expanding at a fast pace, thus creating more opportunities for manufacturers to expand their businesses. These factors are expected to drive overall growth of wax boxes industry.
Data Points
Key Statistics
Expected Market Value in 2023
US$ 2.8 billion
Projected Market Value in 2033
US$ 5.9 billion
Growth Rate (2023 to 2033)
7.7% CAGR
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How Competitive is the Market?
Recent developments in technology, mergers, acquisitions, and partnerships within the companies involved in designing wax boxes are expected to create lucrative prospects for market growth during the forecast period.
In July 2022 - WestRock Co., a United States-based containerboard and packaging manufacturer, declared that it has entered into an agreement to acquire the remaining interest in Grupo Gondi for USD 970 million, plus the debt assumption. According to the WestRock, after completion of the transaction, the company would further bolster its position in the growing Latin American containerboard and consumer and corrugated packaging markets, as Grupo Gondi operates nine corrugated packaging plants, four paper mills, and six high graphic plants in Mexico.
In February 2022 - Menasha Packaging Company, LLC, a subsidiary of Menasha Corporation, informed about signing of an agreement to purchase the assets of Color-Box, a business unit of Georgia-Pacific, LLC. The acquisition is likely to complete in early summer of 2022. Like Menasha Packaging, Color-Box is also a corrugated packaging manufacturer that specializes in high-graphic boxes, which will help fortify the company's geographic footprint and provide additional graphics, design, and structural packaging options for Menasha's customers.
This Wax Boxes market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape.
Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Wax Boxes market.
Wax Boxes Market: Overview
Wax boxes are moisture resistant corrugated boxes that are the best suitable packaging option for shipping food products. Wax box packaging is desirable for any product which is perishable or spoiled by water or moisture. The wax boxes increase the shelf life of the product and help to maintain product quality. Additionally, wax coating fortifies the structural integrity of corrugated boxes and gives a sturdy box for packaging.
These boxes are available in two formats, namely saturated type, and surface coated type. Depending upon the application, the wax coating on corrugated boxes is decided. This heavy duty construction helps the corrugated boxes survive during shipping and handling while protecting seafood products.
Wax boxes are manufactured as per FDA regulations; hence it is widely accepted as food contact material and durable solution for food packaging. The corrugated boxes with wax coating are multipurpose and available in various formats and sizes. Owing to this, the demand of wax boxes for logistics and transportation is expected to increase in multiples in next decade.
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Wax Boxes Market: Dynamics
The wax boxes are eco-friendly and easy to recycle. Also, these are cost efficient from a price point of view. The benefits, as mentioned above, are mainly responsible for driving the global market of wax boxes. Furthermore, it maintains the freshness of food products. The wax boxes are highly preferred by the meat processing industries and other food suppliers.
The seafood containers or wax boxes are specifically designed for cold and frozen fish transportation. Therefore, it is anticipated that the wax boxes market has increasing growth opportunities on the backdrop of food industries during the forecast period. The prospects of wax boxes are further increasing as it consumes less space during transportation.
The preference of wax coated boxes for branding and promotion is increasing as it supports the graphic design and gives a clear visual appearance. The wax boxes are best suitable for cold storages, especially in the case of meat product storage. However, it is not desirable for high temperature packaging. Besides this, the flexible packaging trend might impact negatively on the growth of wax boxes market.
Wax Boxes Market: Regional Overview
In order to ensure the quality of the product, the demand for wax boxes market is consistently increasing across the world. North America is the mature market for manufacturing wax boxes. The consumption of wax boxes is more in the United States, whereas the market share of Canada wax boxes is slightly less. In Latin America, the Mexico wax boxes market is significantly growing with a potential CAGR owing to increasing food industries.
The consumption of seafood in China and ASEAN countries is more; therefore, it is expected that the demand for wax boxes will increase exponentially in the next five years. The United Kingdom and France market is a witness as stable growth for wax boxes consumption. Russia and Poland market is expected to expand with the increasing demand for recyclable and eco-friendly packaging mode for food products.
Lucrative opportunities for the growth of wax box market are expected in the Middle East and Africa with the increasing supermarket and frozen food consumption.
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Wax Boxes Market: Key Players
The key players of Wax Boxes market are as follows
Packaging Products Corporation
Commencement Bay Corrugated Inc.
SCHC Logistics and Packaging
Southland Container Inc.
BoxesMe
Larsen Packaging Products, Inc.
The market of wax boxes is dynamic and many new players are entering into the market. Above listed manufacturers are some of the dominating key players of wax boxes market. Apart from this many small and medium scale manufacturers are participating in wax boxes manufacturing in order to significant revenue generation.
The wax boxes market 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, macroeconomic 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.
The report covers exhaustive analysis on
Market Segments
Market Dynamics
Historical Actual Market Size, 2014 to 2018
Market Size & Forecast 2019 to 2029
Market Current Trends/Issues/Challenges
Competition & Companies involved
Market Drivers and Restraints
Regional analysis includes
North America
Latin America
Western Europe
Eastern Europ
East Asia
South Asia
Middle East & Africa (MEA)
Wax Boxes Market: Segmentation
The Wax Boxes market is segmented on the basis of product type, closure, wax coating, and end use industry. The detailed segmentation is as follows:
