Global corrugated handle box market is flourishing due to rising demand for corrugated handle boxes, consumers’ shifting lifestyles, and increasing need for essential packaging in the transportation and marketing of goods.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the size of global corrugated handle box market at USD 39.61 billion in 2021. During the forecast period between 2022 and 2028, BlueWeave expects the size global corrugated handle box market size to grow at a steady CAGR of 5.7% to reach a value of USD 58.09 billion by 2028. Rapid urbanization, modernization, and globalization across the countries are driving up the value of the corrugated handle box market. The corrugated handle box market will see value growth because of expanding transportation infrastructure improvements, increased accessibility to eco-friendly packaging options, and rapid advances in flexible packaging. Other major factors boosting the demand for corrugated handle boxes include the thriving e-commerce industry; and significant increase in purchasing power because of customers’ growing living standards, technology advancements in packaging equipment and technology, the production of recyclable and biodegradable packaging solutions, and awareness about environmental safety and contamination.
Global Corrugated Handle Box Market – Overview
In comparison to other packaging solutions, the corrugated handle box can carry heavy loads of products while remaining lightweight and low-cost. A corrugated handle box has a built-in handle for ease of use, which is typically made of plastic. The corrugated handle box is strong and has printing capabilities that increase its visibility and utility. Corrugated boxes provide product protection and require an inner component for protection, like edge protectors and corrugated inserts, which aid in the safety of brittle products. Corrugated box is used in various industries, such as consumer goods, food manufacturing, personal care, and product shipping. Producers are choosing sustainable materials over plastics to create environmentally friendly corrugated handle boxes, as plastics is the source of pollution.
One of the main factors influencing the global corrugated handle box market is the developing e-commerce sector and the demand for sustainable packaging solutions. Producers are concentrating on developing recyclable and biodegradable products that can counteract the negative effects of plastic, helping to increase demand for corrugated handle boxes and supporting the market’s expansion. Most of the time, corrugated boxes are used for the safe handling and delivery of goods. For instance, an online retailer frequently focuses on product safety. As a result, they opt for corrugated handle boxes as a secondary packaging option for their products. The expanding food and retail sectors are also driving the corrugated handle box market. The demand for corrugated handle boxes is being driven by several food franchises as well as the preference of the urban population for eating prepared and packaged foods.
Global corrugated handle box market has various segments: Kraft Paper, Containerboard, Corrugated Board, Recycled Paper, Molded Fiber Pulp, and other segments based on the material; Plain and Printed based on the pattern; and Agriculture Industry, Chemical Industry, Food & Beverage, Pharmaceutical & Personal Care, Retail Industry, Commercial Industry, and Others as end-user segments. The food & beverages end-user segment is projected to dominate global corrugated handle box market, accounting for most of the market share.
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Global Corrugated Handle Box Market – Technology Advancements
Manufacturers are producing environmentally friendly and reusable packaging. In the transition to environmentally friendly technologies and the use of renewable plant-based materials, several manufacturing players are developing innovative products. For instance, in Oct 2019, GWP Group, a specialist in eco-friendly packaging and materials handling, the launched a new returnable packaging system for corrugated boxes. Also, in September 2019, CBS Packaging set up a new state-of-the-art 2.5m BHS Corrugator, at a fully integrated plant in Birmingham, UK.
Impact of COVID-19 on Global Corrugated Handle Box Market
As there was less demand for finished goods, which decreased demand for corrugated packaging, COVID-19 pandemic affected the corrugated packaging market globally. All regions were compelled to take strict action in response to the increasing number of coronavirus cases, which led to lockdowns in many of them. Due to the decreased demand for consumer goods and raw materials, corrugated packaging producers suffered financial losses during COVID-19 pandemic period.
Competitive Landscape
Prominent players in global corrugated handle box market include Reid Packaging, Allen Field Company, Inc., Unicraft, Guangzhou Bosing Paper Printing and Packaging Co., Ltd., GWP Group, WH Skinner, CBS Packaging, Shanghai Forests Packaging Group Co., Ltd., HOOCING Packaging, Riverside Paper Co., Inc., BR Engineering Plastics Private Limited, FOREST PACKING GROUP CO., LTD., Kanak Nidhi Enterprise, and Planet Paper Box GROUP. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in global corrugated handle box market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Corrugated Handle Box Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Corrugated Handle Box Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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