P&S: Corrugated Box Market To Surpass $284.6B By 2030
The e-commerce sector, which was already valued at $3.5 trillion in 2019, continues to expand, on account of the heavy discounts available on online shopping portals, increasing penetration of smartphones and usage of mo- bile data, and rapid developments in the delivery ecosys- tem. Thus, according to a new report by P&S Intelligence, the global corrugated boxes market will grow from $180.9 billion in 2019 to $284.6 billion in 2030, at a 4.3 percent CAGR between 2020 and 2030. E-commerce offers physical retailers a cost-effective alternative to pouring money to build their own delivery infrastructure. In addition, the various marketing strategies implemented by online shopping portals also drive the corrugated boxes market, by leading to a huge uptick in sales. For instance, during the Amazon Prime Day in July 2019, more than 175 million orders were received by the tech giant around the world. The COVID-19 situation has offered a boost to the cor- rugated boxes market, by significantly raising the demand for essential items, such as food products, hygiene-related products, and medical supplies. Moreover, people are re- fraining from traveling to physical stores, choosing to shop online, which has also increased the demand for boxes. Visit www.psmarketresearch.com to order the report.
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September 28, 2020
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