The demand for die-cut box in India is anticipated to increase with a CAGR of 5.5%. In Spain, the growing use of boxes for packing by consumers is estimated to project a CAGR of 2.5% during the forecast period. Meanwhile, China, with its numerous manufacturers, is expected to register a CAGR of 4.4% from 2024 to 2034.
NEWARK, DE / ACCESSWIRE / August 23, 2024 / The die-cut box market share is estimated to reach USD 28.6 billion through 2034. Eliminating the usage of plastic for a more sustainable environment is anticipated to push the demand for die-cut packing in the future. The demand stood at USD 22.1 billion in 2024 and is set to exhibit a CAGR of 2.6% from 2024 to 2034.
Offering specialized solutions for a range of products, the die-cut box market is a sizable segment of the packaging industry. For consumer products like electronics and cosmetics, these corrugated boxes are perfect. Companies that invest in packaging technologies that enable customization choices like modular designs or changeable printing capabilities do so because of the anticipated spike in demand for eco-friendly materials.
Due to rising environmental consciousness, die-cut box manufacturers are planning to use more environmentally friendly materials. Companies are selecting sustainable and recyclable materials such as paper, biopolymer and bioplastic to satisfy consumer needs for packaging that is kind to the environment. Still, the supply chain could be impacted by the use of eco-friendly products.
Because there is an increasing need for upscale packaging options and brand distinction, the rigid die-cut box industry is booming. In response to the increasing focus on sustainability and environmentally friendly packaging, manufacturers are concentrating on offering recyclable and biodegradable options.
"Die-cut paper boxes are becoming increasingly popular as a result of consumers' choice of eco-friendly items and the growing need for eco-friendly packaging brought on by internet shopping. Working together with package designers and artists enables businesses to produce distinctive, limited-edition packaging for distinctive campaigns," Says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Die-cut Box Market Report
The die-cut box industry experienced a growth rate of 2.2% in the historical period. The market value surged from USD 19.4 billion in 2019 to USD 21.2 billion in 2023.
Throughout the projection period, the single wall board is anticipated to take the lead in terms of board type. In 2024, the category is predicted to reach a 52.3% share.
In 2024, it is anticipated that the food industry will have a dominant 46.7% share of the packaging application market.
Throughout the projected period, the industry in the United States is anticipated to grow by 1.6%.
India is expected to have a 5.5% CAGR increase in box consumption by 2034.
Consumer usage of boxes for packaging in Spain is predicted to grow at a CAGR of 2.5% during the forecast period.
Owing to the emerging manufacturing operation, China is predicted to grow at a CAGR of 4.4% between 2024 and 2034.
Competitive Landscape
The die-cut box market is experiencing a fascinating shift. Leading players are prioritizing sustainability, and recognizing the growing consumer demand for eco-friendly packaging solutions. The endeavors led to a surge in research and development of boxes made from recycled or biodegradable materials.
At the same time, international companies are pursuing strategic alliances like mergers and acquisitions. These partnerships, particularly with domestic firms and innovative startups, offer access to new technologies and expertise. This allows them to expand their product portfolios of boxes with die-cut openings, catering to a wider range of applications and propelling global sales.
Hyderabad-based Mukund Corrupack invested in a Bobst 8.20 Discovery flexo folder-gluer in May 2023, doubling its production in a year. With a production capacity of 3,000 tonnes per month and an in-house four-color printing facility, Mukund has a European strapping machine capable of making 18,000 cases/hr with four-color printing and die-cutting.
Key Players of Die-cut Box Industry
Mondi Group Plc
WestRock Company
Pratt Industries, Inc
Alpha Packaging, Inc.
Georgia Pacific Packaging LLC
Abbe Industrial Packaging Pty Ltd
DS Smith Plc
PakFactory
Garthwest Ltd
Great Little Box Company Ltd.
International Paper Company
Smurfit Kappa Group
Amcor Limited
Klabin S.A.
Stora Enso Oyj
Cascades Inc.
To Gain In-Depth Insights on Market, Browse Complete Report: https://www.futuremarketinsights.com/reports/die-cut-box-market
Key Segments of Die-cut Box Industry
By Board Type:
Based on the board types, the industry is divided into single face board, single wall board, double wall board, and triple wall board.
By Grade:
In terms of grades, the industry is segregated into bleached and unbleached.
By End Use:
Grounded on the end use of boxes, the industry is categorized into food, electrical and electronics, healthcare, textile and apparels, e-commerce, personal care and cosmetics, and other industries.
By Region:
Key countries of North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa (MEA), and Oceania have been covered in the report.
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
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About Future Market Insights (FMI)
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