The food processing industry is adopting high volumes of corrugated boxes due to the increasing concerns over food safety and freshness, especially during the shipping of bakery & dairy products, grain-based food, and canned & frozen foods. These boxes ensure the freshness and safety of food items during their transport from the producers to retailers or end-users. Due to these reasons, the corrugated boxes market is expected to witness a CAGR of 4.3% during 2020–2030, which will increase the size of the market from $180.9 billion in 2019 to $284.6 billion by 2030.
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The increasing adoption of corrugated boxes is also due to the rising concerns for the environment. Initially, these boxes were disposed of after use, thus leading to the accumulation of large volumes of waste in landfills. However, the increasing pollution has led to a rise in the recycling of old corrugated packaging materials to develop new boxes. Manufacturers are using advanced technologies for compaction and shredding that help in the recycling of corrugated packaging materials. The recycling of these boxes produces fiber, which can be used for the development of new packaging material.
The Asia-Pacific corrugated boxes market is projected to display the fastest growth during the forecast period. This growth will be driven by the rising concerns for environmental degradation and increasing focus on sustainable packaging, surging demand for personal care products and electronic goods, and booming e-commerce industry. Additionally, a surge in the government regulations to attain a sustainable environment and the easy availability of raw materials are encouraging the adoption of corrugated boxes for primary and secondary packaging.
Thus, the widening application of corrugated boxes and increasing concerns for the environment are expected to add to the demand for such packaging materials in the foreseeable future.
Read more: https://www.psmarketresearch.com/market-analysis/corrugated-boxes-market-analysis
