The packaging industry is progressing, and the corrugated packaging market is witnessing rapid growth. It’s safe to say that this growth is fueled by development in digital printing technologies and higher utilization of eCommerce. It’s safe to say that the global packaging market continues to grow, and the growth is faster as compared to the previous forecasts.
At this point, it’s essential to outline that China has banned the contaminated paper stocks (even if they are recycled), but it is still on the road to materialization. According to the new report by Smithers, the corrugated market is likely to spike up to $300 billion by 2023. This report also suggests that the electronic goods market will also experience growth.
That being said, it’s pretty evident that the corrugated packaging industry will keep pacing forwards with the arrival of advanced technologies and eCommerce. We don’t mind saying that the corrugated packaging industry is lending amazing services to businesses and individuals all around the globe. Heck, even the reports are backing this growth.
This is because the corrugated packaging industry is catering to multiple industries, such as pharmaceuticals, food, beverages, tobacco, durable goods, and many more. However, there are some trends that are shaping the future of the corrugated packaging industry. With this article, we are naming the trends that are affecting the future of this industry!
People just love online shopping, which has resulted in an increase in eCommerce sales. According to reports, the annual eCommerce sales will increase by 20%. On the other hand, global online businesses are likely to hit the benchmark of $5.5 trillion by 2023, which translates into higher demand for packaging, putting a spike on corrugated packaging.
For now, corrugated packaging constitutes 80% of packaging demand in the eCommerce sector. Even more, the logistics chain for home delivery is likely to increase by 20% in upcoming years. That being said, there will be surging demand for cost-effective corrugated packaging. Even the company owners are observing this spike in demand as the market keeps evolving.
This is primarily because multiple brands are looking for secondary packaging for bearing the products and ensuring safe and protected transit. Not to forget, these materials are perfect for printing down high-end graphic designs.
With the higher utilization of the eCommerce market, there has been an evident increase in box-on-demand and fit-to-product packaging solutions. For the most part, this increase is dedicated to eCommerce sellers. It basically means that the secondary packaging is curated as the original product size (yes, it even includes the inconsistent and unique product shapes).
That being said, it will reduce the need for huge spaces to store the products to ensure there is no filling material anymore. The popularity of fit-to-product platforms has increased the need for finishing material and fanfold because it will indirectly enhance the market growth.
Sustainability has become a critical issue when it comes down to the value system with which corrugated material has gained popularity. The corrugated material is made from pulp which can be easily shaped up into high-end boxes and are easy to recycle as well. These factors will improve the sustainability standards while delivering high-end packaging.
The material is being light-weighting which has also impacted the corrugated packaging market, and businesses have become extremely particular about the sizing. Now, there are multiple factors behind it, such as the adoption of dimensional weight pricing of the logistics system and higher demand for efficient packaging solutions.
In some cases, opting for the heavy board-grade material can result in better impact and results in the delivery of protective factors. In simpler words, everyone is trying to reduce the cost by reducing the packaging size (no one has to receive air in the packages, right?). Also, these light-weighting technologies will continue to thrive since they are sustainable and cost-effective.
Advancement In Digital Printing
The digital market is improving, and the corrugated packaging industry is showing hunger for adapting to this digital printing technology, even if the sector is still in its initial phases. This is because new systems are being developed to address this higher demand for high-end and advanced digital printing. The prime reason behind this digital printing advancement is personalizing the packaging for brands. So, if you want to invest in this packaging at the right time, you can click here to buy cardboard boxes.