The Corrugated Box Market in Europe to Grow by USD 4.66 Billion from 2021 to 2026
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The corrugated box market in Europe is estimated to increase by USD 4.66 billion from 2021 to 2026, with a CAGR of 4.68%, according to a recent market study by Technavio.
The market is segmented by end-user (food and beverages, electronic goods, personal and household care goods, and others) and geography (Western Europe and Central and Eastern Europe).
The corrugated box market share growth in Europe by the food and beverages segment will be significant during the forecast period. The expanding demand for corrugated boxes in Europe is significantly influenced by the region's demand for organic foods. The demand for fresh fruits and juices in Europe has dramatically increased as consumers become more health- and wellness-conscious. In addition, it is anticipated that the rise in these households would change the country's food and beverage demand trends. The main result of such advances will be a shift in grocery package size. Hence, these factors are expected to drive segment growth during the forecast period.
Growing demand from the e-commerce industry is a key factor driving market growth. The e-commerce industry is expanding because of shifting consumer lifestyles and the need for convenience. Various corrugated box types are used by online retailers depending on the products being transported. While being transported, these corrugated boxes guarantee product security. Furthermore, corrugated boxes can exist in a variety of patterns, forms, sizes, and colors. They can be laminated or given a matte finish. One of the greatest packaging alternatives available to e-commerce merchants, they are highly customizable. Hence, these factors are expected to drive market growth during the forecast period.
However, the rise in the cost of raw materials is a significant challenge restricting market growth.
