Asia Pacific Corrugated Packaging Market Analysis and Forecast (2018-2028)

Asia Pacific Corrugated Packaging Market Analysis and Forecast (2018-2028)

Executive Summary

The Asia-Pacific packaging market is growing at an impressive rate. China is leading the charge and has consistently ranked among the top 15 countries by corrugated output, along with India and South Korea. Furthermore, China’s share of the market is expected to expand at a compound annual growth of over 6% in the next 10 years. The revenue of the Asia Pacific Corrugated Packaging market is estimated to grow at 7% CAGR from 2023 to 2028 indicating a positive growth trend in coming years.

Rising demand from the food and beverage industries, growing E-commerce, and rising investments in manufacturing in developing nations are some of the driving forces. The growing preference for consumer goods and other end-uses is also propelling the industry.

Positioning in the World Market

As the world's largest and most diverse continent, Asia Pacific is home to world-class tech hubs, advanced infrastructure, and heavily populated emerging markets. Over the last three decades, Asia Pacific has experienced a rapid technological boom, with GDP growth across many of the continent's economies outstripping the growth of Western markets. The emerging Economy of the Asia Pacific Region offers a significant opportunity for market growth in various sectors which will directly impact the demand for corrugated packaging in that region.

Additionally, the government of emerging economies offers a number of incentives for foreign investors, including free trade zones, business grants, and competitive tax rates and tax rebates. Knowing the long-term growth potential of APAC, many foreign investors have been entering the market and expanding via mergers and acquisitions. This in turn will increase the demand for corrugated packaging over the coming years.

Performance of Corrugated Market by Geography

In Asia Pacific, the largest market for corrugated packaging is China, followed by Japan and Indonesia. China dominates the Asia-Pacific corrugated packaging industry due to the significant export of Chinese products. It is the main exporter of electronic commodities such as integrated circuits, computers, office machine parts, and broadcasting equipment, which drives the need for corrugated packaging. India and Indonesia are also emerging as major hubs for corrugated packaging owing to the expanding e-commerce industry at both domestic and international levels

Key Factors Discussed

Expansion of E-Commerce

The market for e-commerce packaging in the Asia-Pacific region has grown by an annual average of more than 24% since 2015 and is ahead of North America. The dominance of the Asia-Pacific region is largely due to the presence of China and Japan, which represent the world’s largest and third largest single markets for e-commerce packaging respectively

Increasing Exports

Exports in the Asia Pacific region are expected to grow more after recovering from the pandemic. The exports grew by 24% in India, around 11.78% in Japan, around 8% in the Philippines, and around 7% in Pakistan between 2020 and 2021. Exports in majorly all countries in this region grew in 2021 and 2022 and are expected to grow more after China lifted the no covid policy and opened the market for trade. Exports in China grew unexpectedly by around 14.8% in 2022-23.

Emerging Hubs in Asia pacific Region

India, Indonesia, Vietnam are expected to grow in coming years owing to the expanding e–commerce industry at both domestic and international levels. These emerging economies offer attractive growth opportunities for corrugated boxes market.

Rise in Price of Raw Material Impacting Production and Consumption

The sharp rise in the price of raw materials and disruptions in the supply of raw materials has severely impacted the corrugated box industry.

Scope of the Study

Makreo Research has published a study on “Asia-Pacific Corrugated Packaging Market Analysis and Forecast (2018-2028)”. The report offers wide range of factors covering market analysis, trade performance, regional mix, production and consumption scenario and other developments.

Additionally, the focus on both qualitative and quantitative factors suggests our well-rounded approach to analysis. This provide readers with a more complete understanding of the Asia Pacific Corrugated Packaging Market, including its past and present performance, as well as potential growth opportunities in the future. Overall, this study could be a valuable resource for anyone interested in understanding the Asia Pacific market and its potential for growth in the future.

Key Questions Answered

1.How Asia Pacific Corrugated Packaging Market has performed in the past and what is the expected future growth prospects?

2.What are the key factors driving the Asia Pacific Corrugated Packaging Market?

3.What is the total market revenue of Asia Pacific Corrugated Packaging Market?

4.What is the breakup of Asia Pacific Corrugated Packaging Market based on end users?

5.What are the major performing countries in the Asia Pacific Corrugated Packaging Market?

6.Who are the leading producers in Corrugated Board and Packaging Market?

7.What are the key potential sectors that will drive the demand of Asia Pacific Corrugated Packaging market in future?

8.What are the future opportunities that will drive the Asia Pacific Corrugated Packaging Market?