The global rigid boxes market is estimated to project growth at a CAGR of nearly 5% to 6% during the forecast period 2022-2032. With growing trend of premiumization, luxury rigid boxes are increasingly being adopted across diverse industries. On account of this, the luxury rigid boxes segment is estimated to create an absolute dollar opportunity of more than US$ 5.5 Bn by the end of 2032, expanding at a CAGR of around 4% to 5% between 2022 and 2032.
Rigid Boxes Market Report Scope and Segmentation
|UNIT||Value (USD Million/Billion)|
|BY REGION||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
Increasing demand for rigid packaging solutions for fragile and delicate products from the rapidly expanding e-commerce and logistics sectors is creating growth prospects in the global market.
|Rigid Boxes Market Projected Growth Rate (2022-2032)||5% to 6% CAGR|
|Rigid Boxes Market Expected Value in Luxury Rigid Boxes Segment (2022)||US$ 4 Billion|
|Rigid Boxes Market Anticipated Value in Luxury Rigid Boxes Segment (2032)||US$ 5.5 Billion|
|Luxury Rigid Boxes Segment Projected Growth Rate (2022-2032)||4% to 5% CAGR|
Packaging is the primary type of protection used to keep the products safe from any damage or other external factors. Rigid boxes are one of the crucial parts of the packaging industry and are extensively used for various applications such as fragile goods protection, storage, transportation, value addition, and others across diverse industries.
Rigid boxes are non-flexible, weight-bearing, and hard packaging solutions made of different types of material as per the end use requirement such as paper, corrugated fiberboards, high-density polyethylene, aluminum, wood, fiber, and steel among others. Hence, increasing customer preference from flexible packaging towards rigid packaging, owing to their high impact resistance, better product protection, and durability is accelerating the sales of rigid boxes in the global market.
Which are Some Prominent Drivers Spearheading Rigid Boxes Market Growth?
Over the past decade, the packaging industry has witnessed a massive transformation from using metal and plastics packaging solutions to using paper fiberboard and corrugated ones. This is due to the ever-changing customer preference and end user demand for packaging solutions as per product-specific and application-specific requirements.
Hence, numerous players in the market are aiming at providing customizable rigid packaging solutions ranging from basic boxes to luxury boxes, which is in turn, projected to favor the growth in the global market.
Demand for rigid boxes is registering robust growth across industries such as food & beverages, chemical, electrical & electronics, cosmetics & personal care healthcare for primary, secondary, and bulk packaging applications.
With rising working population and growing fast-paced lifestyle, especially across developed countries such as the U.S., Germany, Japan, the U.K. and others consumption of packaged and ready-to-eat food & beverage product is increasing at a rapid pace. Rigid boxes such as paperboard and corrugated boxes are extensively used for primary and bulk packaging of products such as chocolates, tetra pack juice, snacks, packaged bakery products, breakfast cereals, and others. Hence, accelerating sales of packaged food & beverage products is estimated to augment the demand for rigid boxes in the global market.
Despite numerous benefits associated with the use of rigid boxes high costs, availability of substitutes such as drums, and shifting inclination towards flexible packaging solutions for multiple products such as breakfast cereals are factors hampering the demand in the market.
Governments and regulatory organizations across numerous countries are implementing stringent standards and norms regarding the use of plastics such as polypropylene, high-density polyethylene, and others, which is in turn, restraining the sales of plastic rigid boxes in the global market.
Why is Asia Pacific Excluding Japan Emerging as an Opportunistic Rigid Boxes Market?
Future Market Insights reveals that Asia Pacific excluding Japan is estimated to account for a lion’s share in the global rigid boxes market from 2022 to 2032.
A substantial rise in sales of consumer electronic and wearable devices is being witnessed across the countries such as China, India, South Korea, and Australia among others, owing to growing tech-savvy population in Asia Pacific, fueling the demand for rigid packaging solutions.
According to a study by the India Brand Equity Foundation, approximately 173 million units of smartphones were sold across India in 2021, exhibiting 14% growth as compared to the sales in 2020. As luxury rigid boxes are extensively used for packaging these expensive electronic devices, increasing sales of consumer electronics are projected to bolster the growth in the Asia Pacific excluding Japan market.
How is Eastern Europe Contributing to the Growth of the Rigid Boxes Market?
As per FMI Eastern Europe is expected to emerge as a highly remunerative market for rigid boxes during the forecast period 2022-2032.
As the trend of premiumization continues to create deeper inroads across the sectors such as personal care & cosmetics, gifts, chocolates, and others, end use manufacturers are increasingly focusing on adopting expensive-looking and tempting packaging solutions to enhance the product appeal. Thus, leading players in the market are aiming at introducing novel luxury rigid boxes to capitalize on this existing opportunity.
For instance, in 2019, Metsä Board, a Finland-based paperboard and packaging manufacturer announced launching a new luxury rigid packaging gift box, SkinCare 2.0, which is made of sustainable fiber-based materials. A multiplicity of such new products launches are anticipated to facilitate the sales of rigid boxes in the Eastern Europe market.
Some of the leading players in the rigid boxes market are International Paper Company, Mondi Group Plc, Metsä Board, Bee Packaging, Tat Seng Packaging Group Ltd., Stora Enso Oyj, Smurfit Kappa Group Plc, Shillington Box Co., LLC, Great Little Box Company Ltd., Georgia Pacific LLC, and others.
Prominent players in the global rigid boxes market are focusing at launching sustainable products and merger & acquisition to increasing their share in the highly competitive market.
|Growth Rate||CAGR of 5% to 6% from 2022 to 2032|
|Base Year for Estimation||2021|
|Quantitative Units||Revenue in USD Billion and CAGR from 2022-2032|
|Report Coverage||Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis|
|Key Companies Profiled|
By Material Type:
- High-Density Polyethylene
- Other plastics
By Product Type:
- Basic Rigid Boxes
- Secondary Rigid Boxes
- Luxury Rigid Boxes
By End Use:
- Electrical & Electronics
- Cosmetics & Personal Care
- Food & Beverages
- Home Care
- Automotive & Allied Industries
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Middle East and Africa