The global Corrugated Box Making Machine market gathered revenue around USD 2,827 Million in 2021 and market is set to grow USD 4,557 Million by the end of 2027 and is estimated to expand at a modest CAGR of 4.9% during the prediction period 2022 to 2030.
Corrugated box making machine is an equipment used to make corrugated boxes, used for packaging consumer and industrial goods. Corrugated packaging is best suited for shipping and transporting products that are fragile in nature across developed and developing economies. These boxes are very durable and have high safety standards compared to other modes of packaging such as cardboard packaging. Corrugated boxes protect goods and are lightweight compared to wooden packaging.
The COVID-19 outbreak has led to the decline of industries, as governments of developed and developing economies have imposed lockdown, due to which the working of industries such as food & beverages, packaging, and retail among others have stopped. This, in turn, has impacted production and manufacturing, and adversely affected the global economy. Thus, demand for corrugated box making machines has also been impacted.
|Market Size||US$ 4,557 Million by 2030|
|Growth Rate||CAGR of 4.9% from 2022 to 2030|
|Segments Covered||Function Type,Distribution Channel,Application,Geography|
|Companies Mentioned||Saro Packaging Machine Industrie,ACME Machinery Co. Pvt. Ltd.,Bobst Group SA,EMBA Machinery AB,Fosber Spa,ISOWA Corporation,KOLBUS. GmbH & Co. KG,Mitsubishi Heavy Industries Ltd.,PacksizeInternational,Serpa Packaging Solutions,Shanghai PrintYoung International Industry,Shengli carton Equipment Manufacturing,Shinko Machine Mfg. Co. Ltd.|
e-Commerce to Stimulate Demand in the Corrugated Box Making Machine Market
There has been a considerable surge in demand for retail goods such as clothing, consumer durables, and groceries, originating from regions that either require immediate or long-duration transportation. This leaves the goods in question vulnerable to significant damage, which creates demand for efficient packaging. Corrugated boxes protect goods and are lightweight compared to wooden packaging. Growth in the retail sector is likely to lead to an increase in the demand for consumer goods, resulting in the growth of applications for corrugated packaging. This is likely to provide a considerable boost to the procurement of corrugated box packaging machines. Growth in disposable income as a result of higher employment is likely to spur the retail sector. There has been significant stability in terms of unemployment after it witnessed a rise in 2016. The global unemployment rate was at around 5.6% in 2017 and 5.5% in 2018. Furthermore, growing internet penetration, deep discounts, attractive packaging, and product bundling are some of the factors leading to the growth of this sector. For instance, in 2016, over 76% of the U.S. population used the internet, while the number was considerably higher in other economies such as Malaysia, Spain, France, and Japan, accounting for 79%, 81%, 86%, and 93%, respectively, of the total population. These aspects are likely to spur the growth of the retail and e-commerce sectors, leading to an increase in the need for efficient and light packaging.
Availability of Numerous Alternatives Hampers Demand
Corrugated boxes, unlike cardboard boxes, take up a significant amount of space; even a relatively smaller package takes up significant space. Corrugated boxes also differ from carboard boxes in terms of weight. These boxes, though lighter than wooden boxes, weigh significantly higher than cardboard boxes. An increase in the movement of goods and products, owing to the rapid growth of the e-commerce industry, has led prominent goods carriers such as FedEx and UPS to implement dimensional weight pricing to cut down package size. This means that the pricing will be based on volume versus the actual weight and hence, a bigger box will cost higher even if the product which is to be transported is lighter in weight. This has compelled many packaging manufacturers to produce alternatives for corrugated boxes such as self-sealing boxes, suspended packaging, and retention packaging, among others. Furthermore, some packaging manufacturers have taken to creating packaging from agricultural waste to appeal to environment-conscious consumers. These developments are likely to hamper the market growth. However, investments in R&D can lead to the development of better machinery and ultimately, stability in the demand with regards to changing market dynamics.
Major Players Covered in this Report
The updated market research report on Corrugated Box Making Machine market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Significant Market Participants Operational in the Corrugated Box Making Machine Market are:
The report is divided into major categories comprising product, application, regions and others. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Every segment is studied thoroughly in order to offer a better picture to the buyers and stakeholders to benefit from. Information like highest prevailing product, highly demanded product by the application segment and end users are rightly mentioned in the Corrugated Box Making Machine report.
Global Corrugated Box Making Machine Market Segmentation, by Function Type
Global Corrugated Box Making Machine Market, by Distribution Channel
Global Corrugated Box Making Machine Market, by Application
Global Corrugated Box Making Machine Market Segmentation, by End-user
Middle East & Africa (MEA)
The report includes comprehensive company profiling of leading and emerging companies competing in the global Corrugated Box Making Machine market. It provides a detailed list of players operating at a global level. The players have been listed according to the type of products they offer in the global Corrugated Box Making Machine market and other factors. As part of the company profiling, the analysts authoring the report has provided the market entry year of each player considered for the research study. The report also offers extensive price, volume sales, and revenue analysis by the manufacturer at the global level for the period 2016-2021.
The Queries answered by Corrugated Box Making Machine Market Research Report include:
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
OBJECTIVES OF THE STUDY