According to a new research report by Global Market Insights Inc., the U.S. Corrugated and Folding Boxboard Market size will likely reach USD 93.8 billion by 2026.
Escalating demand of packaged food items coupled with soaring trade activities to uplift market growth
Shifting consumer interest towards packaged food products is the primary reason responsible for increasing corrugated boxes demand in the shipment and packaging of food and beverage products. Food supply in the U.S. is highly dominated by packaged food and beverages Functional food is one of the latest trends emerging in the country as people are getting more aware towards their health. Consumers are more interested in buying packaged food products containing omega-3 or any added probiotics to gain extra nutrients from these food products.
Furthermore, increasing agricultural exports from the U.S. is also anticipated to result in an increased demand for corrugated and folding boxboard in the near future. Agriculture, food, and related industries have a contribution of over USD 1.05 trillion in the GDP of the U.S. In 2018, overall agriculture exports from USA stood at USD 140 billion witnessing a 1% hike from the previous year as stated by United States Department of Agriculture. The increase is majorly driven by grains export in all the major groups.
Browse key industry insights spread across 153 pages with 147 market data tables & 12 figures & charts from the report, “U.S. Corrugated and Folding Boxboard Market By Product (Corrugated [Single Phase, Single Wall, Double Wall, Triple Wall] Folding Boxboard), By Printing Technique (Lithography, Flexography, Digital Printing), By Industry (Food & Beverages, Personal Care & Home Care, Medical, Home Appliances, Other FMCG, Agriculture, Industrial, Chemicals & Plastics, Paper And Carton), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Single wall corrugated boxes having a significant demand in industry
Single wall corrugated box is designed by using only one fluting layer. These boxes are commonly used for shipping in the e-commerce industry. Single wall boxes are quite cost-effective, and they provide cushioned protection as well as rigidity, which is an ideal requirement of a shipping container. They are cost-effective, light, and also provide protection during transits. Single wall is the most common type of corrugated box used by online merchants as they are cheaper in comparison to other alternatives.
lithography technique having a considerable demand in corrugated and folding boxboard printing
Lithography printing technique is likely to exhibit gains of 3.5% CAGR by 2026. This technique is based on immiscibility of oil & water and is mostly used in the packaging industry to create custom printed corrugated boxes and shipping boxes. In the process, the printing is done firstly on paper, which is later laminated on the corrugated box. The printing technique enables premium & glossy finishes to boxes. Some of the advantages offered by this technique are high color detailing, excellent quality of image at low cost, flexibility, and wide availability.
Medical as one of the prominent growth sectors for U.S. corrugated and folding boxboard market
The medical industry accounts for a share of over 5% in the overall demand for corrugated boxes and folding box boards. Corrugated boxes are being used for packaging of various products like tablets, capsules, injection, laboratories equipment, medical equipment, and many others. Corrugated packaging gives many advantages over other alternatives present in the market such as providing dust free and a more sterile method for the transportation of pharmaceutical products. In 2018, North America accounted for 48.9% of world pharmaceutical sales. As pharmaceutical industry is one of the lucrative industries of the U.S, the demand for corrugated boxes are expected to gain momentum in the coming years.
South west U.S having the highest growth potential
South west U.S has the most emerging states in the country and hence the region is anticipated to follow an upward growth trend in terms of demand of corrugated and folding boxboard. For instance, New Mexico exported over USD 3.7 billion domestic manufactured goods to the world registering a hike of 31% from 2008. The state’s major exported goods were electronic products. However other exporting commodities include transportation equipment, other fabricated metal products, electrical equipment, appliances etc.
Strategic mergers and acquisition to influence industry growth
Increasing mergers and acquisition activities throughout the industry is a key strategy adopted by players operating in the value chain. For instance, In May 2018, DS Smith Plc. Announced the acquisition of Corrugated Container Corporation, a corrugated packaging company in based North America. This acquisition is expected to strengthen the company’s presence in North America.
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