Market Overview
The global corrugated handle box is growing continually. The market growth attributes to the growing e-commerce and packaging industry. Corrugated boxes are primarily used for proper handling and transportation of goods. Besides, the rising usages of corrugated boxes in packaging solutions drive market growth. Moreover, the growing number of food franchises and rising consumer inclination towards takeaway food consumption escalate the market growth to furthered height.
According to Market Research Future (MRFR), the global corrugated handle box market was valued at approximately USD 35 BN in 2018, which would appreciate further at 4.2% CAGR during the forecast period (2019–2025). Rapid urbanization and the growing retail industry are some of the key growth drivers for the market. This corrugated handle box packaging type has proven to be far more effective for protecting goods & fresh produces. Increasing demand for corrugated handle boxes from the fresh food industry pushes market growth.
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Additionally, the rising population and per capita income that increases consumer purchasing power increase the market size. Also, growing applications in burgeoning industries, such as personal care, food & beverages, Pharmaceuticals & healthcare, electronic goods, and paper industry, boost the market growth. In addition, increasing applications of corrugated handle boxes, ranging from pallets to children’s toys to furniture, foster the growth of the market.
Major Players
Players leading the in the global corrugated handle box market include Reid Packaging (US), Guangzhou Bosing Paper Printing & Packaging Co., Ltd (China), Unicraft (India), WH Skinner (UK), GWP Group (United Kingdom), Allen Field Company, Inc. (US), Shanghai Forests Packaging Group Co., Ltd (China), CBS Packaging (United Kingdom), Riverside Paper Co., Inc. (US), and Planet Paper Box GROUP Inc. (Canada), among others.
Industry/ Innovation /Related News:
July 01, 2020 —- Softbox Systems Ltd. (the UK), a temperature control packaging solutions provider for pharmaceutical, cold chain logistic industries, and life science, launched a recyclable temp-control box Tempcell™ ECO made of 100 percent corrugated cardboard and utilizes Softbox Thermaflute™ patent-pending plastic-free insulation technology. Amidst growing sustainability movements to reduce waste, reuse, recycle, and recover. Hence TCP solution was developed to use less material in design and does not require any specialist recycling.
Raw material can be collected and recycled by your local authority. Simultaneously, the ECO packaging solution is designed for wide-stability temperature-sensitive pharmaceutical products. Easy to assemble and recycle once used, Tempcell™ comes in a flat-packed format to help save space during transport, delivery, and storage.
Segments
The report is segmented into four dynamics.
By Capacity : 0–5, 5–25, 25–50, and Above 50 KG.
By Material : Containerboard, Kraft Paper, Corrugated Board, Recycled Paper & Molded Fiber Pulp, and others.
By End User : Chemical Industry, Agriculture, Food & Beverages, Personal Care, Pharmaceuticals, Retail Industry, and others.
By Regions : North America, Europe, APAC, and Rest of the World.
Geographical Analysis
The Asia Pacific region dominates the global corrugated handle box market. The largest market share attributes to the burgeoning e-commerce industry fueled by the increasing cross-border trade and massive demand for online shopping. Besides, the retail sector in countries such as China and India propel market demand. Moreover, the rapidly growing packaging industry in the region substantiates the growth of the market. The APAC corrugated handle box market is projected to retain its dominance throughout the review period.
North America stands second in the global corrugated handle box market. The market is driven by the presence of tier 1 corrugated handle box manufacturers, such as Allen Field Company, Inc. (the US), Reid Packaging (US), Riverside Paper Co., Inc. (the US), and Planet Paper Box GROUP Inc. (Canada). These manufacturers strengthen their market position through strategic alliances to expand their global presence and develop new packaging solutions for their customers. The US holds the major share in the regional market. The North American corrugated handle box market is expected to register a substantial CAGR during the assessment period.
Competitive Analysis
Highly competitive, the corrugated handle box market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product/ technology launch. They strive to develop cost-efficient manufacturing techniques that can reduce production cost & time and wastages.
Also, they take care of ecological norms and reinforce corrugation inside the panels, which reduces cost and increases the strength or durability. To survive and create new market opportunities, manufacturers rely on innovation. Therefore, they keep themselves abreast of the latest technological developments and latest consumer trends by developing human capital.
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