As the volume of global trade and e-commerce sales continues to increase around the world, the corrugated packaging market is has been witnessing significant growth over the past few years. More and more businesses are trying to reach larger customer bases in different regional markets and having a proper logistics network is essential for ensuring safe delivery of goods. Corrugated packaging plays a vital role in preserving the status and condition of goods to be transported by providing extra strength, resilience, and protection against environmental factors. It is expected that the global corrugated packaging market will grow faster over the next few years, primarily driven by factors such as an increase in economic activities in developing countries and the growth of e-commerce industry.
Global Corrugated Packaging Procurement Market Overview
The global corrugated packaging industry is expected to witness a category spend reaching USD 250 billion by 2021, with the spend momentum accelerating at a CAGR of nearly 5% from 2017 to 2021. This increasing spend on corrugated packaging will be primarily attributed to growing demand from end-user industries such as manufacturing, automotive, processed food, and e-commerce. In the e-commerce industry, vendors are using corrugated packages for shipping goods from their facilities to customers. One of the main benefits of using corrugated packaging is the rigidity and cushioning of corrugated packaging material that can ensure products being shipped are safe. Other benefits include higher cost-efficiency and eco-friendliness.
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Top Corrugated Packaging Market Trends in 2019
Do-it-yourself Corrugated Pallets
A growing number of packaging and logistics companies are now opting for do-it-yourself corrugated pallets that can be assembled in-house. Such pallets are an engineered material that does not have any defect, and additional tools or equipment are not required. Consequently, it ensures safe assembly of corrugated packaging and results in cost savings in terms of logistics.
Corrugated Point-Of-Sale Display
There has been an increasing adoption of corrugated point-of-sale display within the retail sector as it offers high visibility at a relatively low cost. Additionally, it can be easily customized and installed at any location in a retail setting. Floor display, counter display, pallet display, endcap display, and sidekick display are the different types of corrugated point-of-sale displays available in the market.
Recycling of Corrugated Packaging
As corrugated cardboard sheets can be easily disassembled and made of recyclable material, companies are putting an effort towards recycling the corrugated packages. Also, by recycling the corrugated cardboard, fibres can be produced and reused for manufacturing of new corrugated packages. Almost 90-94% of corrugated packages are recycled every year.
Corrugated Package for Premium Packaging
Corrugated packaging is finding its way in the premium packaging of expensive consumer products such as perfumes, jewellery, and gift boxes to indicate high cost and quality of the product. Companies are using corrugated packaging for premium products as they are not only cost-effective but also is light and durable. Additionally, it can also be coated with adhesives and undergo treatment to make it flame resistant.
Read more about the top trends for corrugated packaging along with pricing trends, procurement best practices, supplier risks, pricing insights, strategic purchasing, and procurement insights in SpendEdge’s Global Corrugated Packaging Industry – Procurement Market Intelligence Report