According to a report by research firm MarketsandMarkets, the global Corrugated Box Market size was estimated at US $67.6 billion in 2021 and is projected to reach $80.8 billion by 2026, at a CAGR of 3.6%. The corrugated boxes market is witnessing high growth due to demand from the e-commerce sector, food & beverage industry, electronic industry, industrial sector and the increasing disposable income in developing countries.
Central and Eastern Europe are also driving growth in the corrugated box market. Approximately 45% of the consumers in Central and Eastern Europe prefer online shopping due to the COVID-19 pandemic. Studies and surveys predict that the new online buyers are expected to continue online shopping. Almost 80% of the population in these regions like the sustainability and eco-friendly material in corrugated boxes used for packaging. As well, 77% consumers use sustainable corrugated packaging solutions for their online shopping. Approximately 57% are willing to pay more for customizable as well as sustainable corrugated packaging solutions.
A major challenge that corrugated box manufacturers are expected to face is reducing greenhouse gas emissions and developing highly efficient and eco-friendly methods of manufacturing products. Corrugated boxes are experiencing increased demand among consumers; however, the high consumption of energy and the impact on the environment acts as a major hindrance for it to be considered as a highly sought-after packaging product. As corrugated boxes are made from wood pulp, their production has a significant impact on forests.