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The global market for multi-depth corrugated box was valued at US$ 729.5 Mn in 2016. The market is expected to expand at a CAGR of 6.6% over the forecast period 2017-2027. Multi-depth corrugated box is a rigid packaging solution designed for different sizes of products in which a single box can provide the compact packaging of products of multiple sizes. Multi-depth corrugated boxes are similar to that of conventional corrugated boxes, with an added ability of being used for multiple sized products. These boxes are extensively used in the packaging of various goods such as foods, beverages, cosmetics, pharmaceuticals, hazardous chemicals and other materials. This can be attributed to immense size flexibility offered by these boxes coupled with unique characteristics such as high tensile strength of corrugated boxes. These boxes provides a leverage to use it for various size requirements, thus reducing inventory and optimizing cost management. Multi-depth corrugated boxes have high durability and are light weight coupled with offering significant cost benefits to the buyer. Multi-depth corrugated boxes are being increasingly used in secondary packaging of goods across a variegated range of industries. Traditionally, single wall multi-depth corrugated box served as the benchmark board type for multi-depth corrugated boxes used in the global corrugated packaging market.
Drivers & Restraints
Growing concept of corrugated boxes as a point of sale is expected to open opportunities for the growth of the multi-depth corrugated boxes market. Rapid industrialisation, particularly in emerging economies is expected to drive the sale of multi-depth corrugated boxes. To meet the growing standards of international quality packaging, multi-depth corrugated boxes manufacturers across the globe are showing high inclination towards increasing innovation, ensuring quality assurance, modernisation by adopting latest technologies, installing high speed automatic machines, and incorporating management systems and techniques for efficient operation of plants. Multi-depth corrugated boxes market is expected to gain substantial growth in near future owing to increasing demand in packaging among electronics, consumer goods and automotive parts and components. Multi-depth corrugated boxes are gaining wide adoption in the shipping of goods, thus further fuelling revenues in the global multi-depth corrugated boxes market.
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However, recycling of multi-depth corrugated boxes poses a great challenge in terms of recovery of used boxes.
Analysis by Region
On the basis of region the global market for multi-depth corrugated boxes is segmented into North America, Latin America, Eastern Europe, Western Europe, MEA, Japan and APEJ. The U.S multi-depth corrugated box market is expected to grow at a CAGR of 4.9% over the forecast period wherein the single wall type will account for a dominant share by board type. The Brazil multi-depth corrugated box market is expected to expand at a moderate CAGR of 7.3% over the forecast period due to growing popularity of new products in the region. Germany, U.K., France, Italy and Russia account for a significant market share in the Europe multi-depth corrugated box market. The multi-depth corrugated box market in the GCC region is particularly driven by high growth in the food & beverages segment. The APEJ multi-depth corrugated box market represents the most lucrative geographic region wherein India and ASEAN countries represent substantial total incremental opportunity over the forecast period. The multi-depth corrugated box market in India and ASEAN is characterised by a growing trend for single wall boxes.
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