Latest News:- Corrugated Box Making Machine Market: Food and beverages is expected to lead the End-user segment during 2024-2028

Corrugated Box Making Machine Market to grow at a CAGR of 5.23% during 2024-2028

The Corrugated Box Making Machine Market is expected to grow at a CAGR of 5.23% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 752.5 million. In the packaging industry, there is a growing trend towards smart packaging, which offers increased functionality and sustainability. Traditionally, corrugated boxes have been dismantled and recycled for various purposes after use. However, with the rise of smart packaging, these boxes can now be utilized multiple times with minimal damage. This innovative approach is particularly relevant in today's e-commerce market, where the need for durable and reusable packaging solutions is paramount. By enabling boxes to be reopened and reclosed effortlessly, smart packaging not only reduces waste but also enhances the overall customer experience. This trend is set to revolutionize the corrugated box making machine market, as manufacturers respond to the demand for more sustainable and efficient packaging solutions. 

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The Food and beverages subsegment is expected to dominate the End-user segment during the forecast period 

Technavio analysts predict that the Food and beverages subsegment will lead the End-user segment during 2024 and 2028 The corrugated box making machine market experiences significant demand from the food and beverage sector, accounting for over half of the global market share. These industries utilize corrugated display boxes as an essential marketing tool to showcase their products, given the increasing consumer preference for e-commerce purchases. In the US, for instance, approximately 56% of food and beverage companies had an online presence in 2020, a substantial increase from pre-pandemic levels. This trend is projected to persist, further boosting the demand for corrugated boxes in the packaging industry.

Here are the various ways based on which the market is segmented: 

• End-user
  • Food and beverages
  • Electronic goods
  • Home and personal care goods
  • Textile goods
  • Others
• Technology
  • Automatic
  • Semi-automatic
  • Manual
• Geography
  • APAC
  • North America
  • Europe
  • Middle East and Africa
  • South America

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There are several factors that are causing the market to flourish exponential growth in e-commerce industry

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Corrugated Box Making Machine market is experiencing significant growth due to several factors. The rise in automation in various industries, particularly in the production of lightweight corrugated boxes, is driving demand for these machines. Outsourcing costs have also played a role in the increasing adoption of corrugated box making machines, as they offer cost savings compared to traditional manufacturing methods. Consumer preferences for sustainable packaging solutions have also fueled growth in the market. This trend is particularly strong in the consumer goods, food and beverages, textile goods, electronic and consumer industries, where ecommerce packaging and compact, modular designs are in high demand. Indirect and direct sales channels are both contributing to the market's growth. Fully automatic and semi-automatic machines cater to the needs of both consumer and industrial sectors. Innovation in packaging, such as remote monitoring capabilities and lightweight packaging, is also driving growth. The globalization of trade and the increasing importance of ecommerce activities are further expanding the market's reach. Plastic packaging faces increasing competition from sustainable, recyclable corrugated boxes. Sustainability and innovation are key trends in the market, with a focus on creating eco-friendly and cost-effective solutions for various industries. Overall, the Corrugated Box Making Machine market is poised for continued growth in the coming years.

Market Research Overview

The industrial machinery, supplies, and component market encompasses businesses involved in the manufacturing of industrial machinery and components, including presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. According to Technavio, the global industrial machinery, supplies, and component market size is determined by the consolidated revenue generated by machinery and component manufacturers catering to industrial applications. Key growth drivers for this market include the expanding industrial output in process and discrete industries, fueled by the increasing demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages in rapidly developing economies.

The Corrugated Box Making Machine Market is experiencing significant growth, fueled by the exponential growth in e-commerce industry. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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