Green Packaging demand will drive growth in Corrugated Machinery Industry
The Corrugated Equipment Market is referred to the machinery used to manufacture corrugated cardboard sheets from paperboard materials.
Market Size and Evolution
This sector is expected to grow at a compound annual growth rate (CAGR) of 3.3% from 2021 to 2027 arriving to 282’35 Min $ in 2027, as value projection (*)
More than 50% of this consumption will be produced in the USA, China and Japan.
Overall, the Corrugated Machinery Market is expected to continue growing in the coming years due to the increasing demand for corrugated packaging, particularly in the Food & Beverage, Electronics, Personal Care and Pharma industries.
Main Growth Drivers
This important growth is expected to be fueled by the exponential expansion of:
· The end-use industries, detailed before, are shifting their packaging preferences to eco-friendly materials, such as paper and paperboard
· The e-commerce industry is experiencing exponential growth, which is fueling demand for corrugated packaging.
· Manufacturers are investing in automation to improve efficiency, reduce labor costs, and increase productivity, introducing robotics in the field.
· There is a need to reduce outsourcing costs by bringing more manufacturing processes in-house.
Main Trends
The Corrugated Packaging Machinery Industry has been experiencing several trends in recent years.
Here are some of the key:
· Sustainability: With increasing concern for the environment, the corrugated industry has been focusing on sustainable practices, such as using recycled materials and reducing waste.
· Digitalization: The use of digital technology in the corrugated industry is increasing, with more companies using automation and data analytics to improve efficiency and productivity.
· E-commerce: With the growth of e-commerce, there has been a rising demand for corrugated boxes for shipping products. This trend is expected to continue as more consumers shop online.
· Customization (Fit-to -Product packaging): Customers are increasingly looking for customized packaging solutions that are tailored to their specific needs, such as boxes with unique sizes or designs.
· Globalization: The corrugated industry is becoming more global, with companies expanding their operations to new markets and regions.
· Health and safety: With the COVID-19 pandemic, there has been a greater focus on health and safety in the corrugated industry, with companies implementing new protocols to protect workers and customers.
The Challenges
· The rising cost of raw materials used in corrugated boxes is putting pressure on manufacturers to find more cost-effective alternatives.
· The emergence of reusable plastic packaging boxes is a challenge to the dominance of corrugated boxes in the market.
· The need for e-commerce packaging to comply with stringent regulations can be a challenge for manufacturers, particularly those operating in multiple regions with varying standards.
(*) data source is https://www.gminsights.com/industry-analysis/corrugated-equipment-market