NEW YORK, May 31, 2018 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Market Research, global corrugated packaging market is projected to reach $294.3 billion by 2023, the market growth is driven by the increasing demand of cost-effective and environment-friendly packaging materials from various end use industries.
On the basis of application, the corrugated packaging market is categorized into processed food, personal and household care, beverages, electrical and electronics goods, chemicals, glassware and ceramics, fresh food and produce, paper products, tobacco, and wood and timber products, textiles, direct mail and dispatch, transport, and others. Others include footwear and furniture. The market is expected to witness the fastest growth from personal and household care application, witnessing a CAGR of 4.3% during the forecast period. The demand for personal and household care has seen immense growth over the past few years owing to high demand for cosmetics and personal care products. This is driving the use of corrugated packaging widely in cosmetics, personal care product, and home furnishing packaging.
Make enquiry before buying this report: https://www.psmarketresearch.com/send-enquiry...ing-market
The corrugated packaging market in Asia-Pacific (APAC) is expected to register a CAGR of 5.0% during the forecast period. The market growth in the region is mainly driven by the growing demand for packaging materials from the processed food industry of countries such as China and India. China is the largest market for corrugated packing in the region.
The high industrial production in China is one of the leading factors for the growth of the corrugated packaging market in the country while Japan is the second largest market. The Japanese economy is largely based on export, as the country is one of the leading exporters of consumer electronics and automotive parts in APAC. Corrugated packaging is one of the most popular packaging materials for international trade, owing to its suitability and lower cost, as compared to its counterparts.
Additionally, the boom in the processed food industry is expected to contribute to the corrugated packaging market growth. The packaging of processed food requires secure and flexible packaging solutions, to ensure product safety and convenience to customers. The increasing demand for easy-to-use, convenient, and lightweight packaging materials, innovative paperboard packaging solutions are being developed by packaging manufacturers to tap the growing demand from the processed food industry, thus fueling the market growth.
Browse report overview with detailed TOC on "Corrugated Packaging Market" at: https://www.psmarketresearch.com/market-analy...ing-market
Some of the major players operating in the global corrugated packaging market are Nine Dragons Paper (Holdings) Limited, International Paper Company, WestRock Company, Smurfit Kappa Group, Georgia-Pacific Equity Holdings LLC, Lee & Man Paper Manufacturing Ltd., Oji Holdings Corporation, Mondi Group, Packaging Corporation of America, and DS Smith PLC.
Browse Related Reports by P&S Market Research
Pharmaceutical Packaging Market
https://www.psmarketresearch.com/market-analy...ing-market
Industrial Packaging Market
https://www.psmarketresearch.com/market-analy...ing-market
About P&S Market Research
P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research-based consulting services across different industry/business verticals.
As one of the top growing market research agencies, we’re keen on providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.
Contact: P&S Market Research 347, 5th Ave. #1402 New York City, NY - 10016 Toll-free: +1-888-778-7886 (USA/Canada) Email: enquiry@psmarketresearch.com Web: https://www.psmarketresearch.com
