Corrugated cardboard boxes have been a mainstay in the packaging industry for many years, and it looks like they will continue to be in demand for the foreseeable future. According to a report by Allied Market Research, the global corrugated packaging industry generated US$134.5 billion in 2021 and is estimated to reach $198.8 billion by 2031, witnessing a CAGR of 4.1% from 2022 to 2031. In this blog post, we will take a closer look at the forecast for the corrugated cardboard boxes industry, and what it means for businesses in this sector, particularly in the Vancouver area where Racer Boxes operates.
This growth is primarily attributed to the increasing popularity of e-commerce, which shows no signs of slowing down in the coming years. As more consumers turn to online shopping for convenience and safety, businesses of all sizes are recognizing the importance of having a strong online presence to remain competitive. By investing in their e-commerce capabilities and utilizing cardboard boxes for their shipping needs, businesses can take advantage of this growing trend and set themselves up for success in the years to come.
The Rise of Single-Wall Corrugated Boxes
The report also states that the single wall segment is expected to hold the majority share in the corrugated packaging market, with a CAGR of 4.3% during the forecast period (until 2031). These boxes are popular among general consumers and e-commerce enterprises due to their reasonable pricing, lightweight structure, and ease of use. With this projected growth, it is important for manufacturers to continue innovating and improving the design and quality of single-wall corrugated boxes to meet the demands of consumers.
The Dominance of Cardboard Boxes
Also, it’s important to say that the boxes segment contributed to the highest share of the global corrugated packaging market revenue in 2021, accounting for around two-fifths of the market share. The same segment is projected to continue its dominance during the forecast period, with a CAGR of 4.3%. The popularity of corrugated cardboard boxes can be attributed to their cost-effectiveness, durability, and versatility. Corrugated boxes are used for a wide range of products, including food and beverages, personal care, pharmaceuticals, and electronic goods, among others.
Cardboard Boxes in Vancouver
The corrugated cardboard boxes industry forecast is positive, with a steady growth rate projected for the next decade. As both single-wall and corrugated cardboard boxes continue to dominate the packaging industry, it is important for manufacturers to stay ahead of the competition by improving the quality, design, and sustainability of their products. For businesses in the Vancouver area, including Racer Boxes, this forecast provides an opportunity to continue investing in research and development, expanding their product line, and meeting the evolving needs of their customers.
