As of 2019, the corrugated boxes market stood at $180.9 billion, and it is projected to be valued at $284.6 billion by 2030, growing at a CAGR of 4.3% during the forecast period of 2020–2030. The projected growth would be due to the stacking strength, structural strength, and puncture resistance of corrugated boxes. Other key forces behind the increase in the demand for these boxes are the growth in the packaging industry and increase in the use of corrugated boxes by online retailers.

 

The increasing use of corrugated boxes is also because of their environmental benefits. Unlike the past, the manufacturers are recycling old corrugated packaging for the production of new boxes. Producers are using innovative technologies for shredding and compaction, which enable the recycling of corrugated boxes. These boxes produce fiber that is further used in the creation of new products. Due to the extreme levels of pollution owing to material wastage, strict mandates to recycle and reuse these boxes are in place in numerous countries.

According to P&S Intelligence, the demand for corrugated boxes will be highest in the Asia-Pacific (APAC) region in the future, because of an increase in the environmental awareness. Due to the increasing environmental concerns, the packaging industry is opting for sustainable materials. This awareness, when coupled with a rise in e-commerce activities and increase in the demand for personal care products and electronic goods, will lead to a change in the consumption pattern. Additionally, the availability of cheap raw materials and government initiatives to promote eco-friendly products enable the increase in the demand for corrugated boxes.

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APAC will additionally generate the highest demand for corrugated boxes due to the emerging online market in India and China. Online retailers have emerged as the new propellers for the global corrugated boxes market growth. As of 2019, the global e-commerce market was worth $3.5 trillion, and it will grow substantially in the coming times. India and China are the fastest-growing e-commerce markets because of the increase in smartphone penetration, development of delivery infrastructure, and discount-driven sales.