BOARD PACKAGING MARKET ANALYSIS

Board Packaging MarketSize and Trends

Market Dynamics:-

Rising government support for e-Commerce or online retailing fueled demand for board packaging across the globe in 2018. According to the data provided by the US Department of Commerce and International Trade Administration, in 2016, the Malaysian Ministry of International Trade and Industry (MITI) launched a new e-Commerce initiative, in order to focus on small and medium-sized enterprises under e-Commerce and to expand market access for over 87 million digital customers in ASEAN region.

Market Outlook:-

Europe accounted for significant market share in the global board packaging market in 2018, owing to new product launches of board packaging by key players to strengthen their position in the market. For instance, in 2019, Smurfit Kappa Company launched new corrugated board range named as TopClip for beverages in the market. The new TopClip features two die-cut holes so it can be handled easily in store. The product is specially designed to replace single use plastic for bundling canned and bottled beverages. It is plastic-free and 100% recyclable, renewable, and biodegradable.

Moreover, North America accounted for the significant market share in the global board packaging market in 2018, owing to rising e-commerce industry in the U.S. For instance, according to the United States Census Bureau, the e-commerce sales was accounted for US$ 105,096 Mn in second quarter of 2017, the e-commerce sales was increased from US$ 98,292 Mn in the first quarter of 2017 to US$ 105,096 Mn in the second quarter of 2017. These are the factors that are expected to drive the board packaging market growth.