Corrugated Handle Box Market Size: 2021 by Type, Applications, Growth Drivers, Trends, Demand and Global Forecast to 2027
Market Analysis
The corrugated handle box market size in 2018 was valued at USD 35 billion and is predicted to develop at a 4.2% CAGR between 2020 2027, reveals the latest Market Research Future (MRFR) report. Corrugated boxes are mostly used for proper handling as well as transportation of goods.
Various factors are fuelling the global corrugated handle box market growth. As per the recent MRFR market estimates, such factors include the booming e-commerce industry, rise in food franchise, growing inclination of the urban population towards takeaway food consumption, growing retail industry, increasing demand from food industry, increasing trend of food deliveries, demand for sustainable packaging solutions, increasing use during the COVID-19 pandemic, and the growing awareness about the advantages of corrugated handle box.
On the contrary, risk related to the damage of product owing to its contact with water and other liquid and rising production of biodegradable and recyclable solutions may impede the global corrugated handle box market growth over the forecast period.
Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global corrugated handle box market based on end user, application, and material.
By material, the global corrugated handle box market is segmented into molded fiber pulp, recycled paper, corrugated board, containerboard, kraft paper, and others. Of these, the corrugated board will lead the market over the forecast period and the highest CAGR.
By capacity, the corrugated handle box market is segmented into above 50kg, 25-50kg, 5-25kg, and 0-5kg. Of these, the 5-25kg will dominate the market over the forecast period for its increasing use as secondary packaging in food and beverage and retail industries.
By end user, the corrugated handle box market is segmented into retail industry, personal care, pharmaceuticals, food and beverages, chemical industry, agriculture, and others. Among these, the food and beverage segment will spearhead the market over the forecast period as these are mostly used in secondary packaging to transport food items.
Regional Analysis
By region, the global corrugated handle box market trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, South America, and the Middle East and Africa (MEA). Of these, the APAC region will reign the market over the forecast period for the booming e-commerce sector and growing retail industry in India and China.
In North America, the global corrugated handle box market is predicted to have favorable growth over the forecast period. The presence of several tier 1 corrugated handle box manufacturers, increasing logistic services, and growing demand for transportation containers are adding to the global corrugated handle box market growth in the region. The US holds the utmost market share.
In Europe, the global corrugated handle box market is predicted to have promising growth over the forecast period for the booming retail industry that has created lucrative opportunities for manufacturers of corrugated handle boxes. Germany holds the utmost market share for being a major contributor.
In the MEA, the global corrugated handle box market is predicted to have steady growth over the forecast period. Saudi Arabia holds the utmost market share.
In South America, the global corrugated handle box market is predicted to have sound growth over the forecast period. Brazil holds the utmost market share.
Key Players
The prominent players profiled in the global corrugated handle box market report include Riverside Paper Co., Inc. (US), Planet Paper Box GROUP Inc. (Canada), Shanghai Forests Packaging Group Co., Ltd (China), CBS Packaging (United Kingdom), Allen Field Company, Inc. (US), WH Skinner (UK), GWP Group (United Kingdom), Unicraft (India), Reid Packaging (US), and Guangzhou Bosing Paper Printing and packaging Co., Ltd (China), among others.
The corrugated handle box market is highly fragmented and competitive in nature with the presence of several well-established domestic and international players. These industry players have used several strategies to stay ahead such as mergers and acquisitions, partnerships, collaborations, geographic expansions, and others. Further, they are also investing in research and development activities to cater to the burgeoning needs of the customers.
Industry Updates
March 2021- Smurfit Kappa, a corrugated packaging company in Ireland has launched an EVOH (ethylene vinyl alcohol) film for its bag-in-box solution.
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/corrugated-handle-box-market-8696
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