Containerboard Market Trends

Growth Drivers

• Higher Prevalence of Online Purchasing Across the Globe-It was estimated that more than 2.5 billion individuals purchased necessary goods online in 2020. Multiple types of goods are ordered online and they are carried to places far from the manufacturing facilities. Thereby, a huge possibility of damage emerges, and to prevent such scenarios, cardboard becomes very beneficial. As the inclination of the global population growing toward online purchasing, it has spurred the demand for the higher production of containerboard. Therefore, such a higher demand is anticipated to hike the growth of the market during the forecast period.

• Growing Production of Paper & Paperboard -As of 2020, nearly 65,000 million metric tons of paper & paperboard was produced in China while the production of paper & paperboard in the United States was estimated to reach around 100,000.

• Increasing Demand for Containerboard in Food & Beverage Industry-Restaurants, cafeterias, cafés, fast-food outlets, pubs, delis, food manufacturing activities, catering companies, food transportation services, and more are all part of the food and beverage industry. Work in this sector might include everything from packing to cooking, moving, and serving food and drinks. In 2022, the total volume generated by the Food segment was estimated to be about USD 15 billion.

• Significant Increment in the Glassware Export-Glassware includes items like bowls, drinking glasses, and ornaments that are constructed of the material. The export volume of glassware across the globe was estimated to be about USD 25 billion in 2020.

Challenges

• Disrupted Supply-Chain Due to COVID-19 - Disruptions in the supply chain have a detrimental impact on the economic health of a country by causing shortages of essential items, price inflation, industry closures, and unloaded shipping containers. They also have an impact on a wide range of goods, from pricey items like vehicles and technology to basics like food, medications, oil, and gas.
• Requirement for Higher Initial Investment
• Government Initiatives against the Utilization of Particular Containerboard