Cleveland OH, May 8, 2023 – According to a new study by The Freedonia Group, Global Corrugated Boxes, global demand for corrugated boxes is projected to increase 2.6% per year to 296 billion square meters in 2027. In value terms, corrugated box demand is forecast to increase to $319 billion in 2027:
- Rising consumer spending and industrial output in developing markets will boost sales of food, clothing, and other goods typically packaged in boxes.
- Healthy anticipated increases in personal incomes will continue to expand internet access, mobile phone ownership, and e-commerce usage worldwide, which in turn will increase demand for boxes.
- As multinationals expand their manufacturing operations in emerging markets such as in Asia and the Africa/Mideast region, the use of corrugated boxes to package these products will rise.
The Asia/Pacific region will record significant growth in demand and shipments, driven by the large Chinese market, the world’s leading corrugated box market and producer.
Growth below the global average is anticipated in North America and Western Europe, where:
- the manufacturing sectors are relatively mature
- e-commerce has already achieved greater penetration as a share of retail sales, although it is still growing faster than the retail average
- populations in a number of countries are relatively stagnant, constraining both business- and consumer-oriented markets
However, significant opportunities remain in these regions for sustainable and custom designed packaging, particularly for e-commerce.