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LONDON, Jan. 31, 2024 (GLOBE NEWSWIRE) — As per The Business Research Company’s Corrugated Box Making Machine Global Market Report 2024, the corrugated box making machine market is witnessing robust growth, and the latest market report reveals promising trends and projections for the coming years. The corrugated box making machine market size is set to grow from $3 billion in 2023 to $3.14 billion in 2024, registering a compound annual growth rate (CAGR) of 4.5%. Furthermore, the forecast indicates a steady growth trajectory, with the corrugated box making machine market projected to reach $3.64 billion by 2028, at a CAGR of 3.8%.
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Corrugated Box Making Machine Market Drivers and Trends
The growth in the historic period can be attributed to the surge in e-commerce activities, the expanding packaging industry, the emphasis on sustainable packaging, and the globalization of trade. Looking ahead, the forecast period is expected to see continued growth fueled by factors such as sustained e-commerce expansion, innovation in packaging designs, lightweight packaging trends, the rise of direct-to-consumer (D2C) brands, and a shift towards sustainable packaging materials.
Major trends in the forecast period include the adoption of remote monitoring and predictive maintenance, the rise of compact and modular machines, increased demand for e-commerce packaging solutions, global supply chain challenges driving localized production, and enhanced operator training and safety features.
Rising Demand for Consumer and Industrial Products
The rising demand for consumer and industrial products is identified as a significant driver for the corrugated box-making machine market. Consumer goods and industrial products, ranging from clothing to dishwashers, are essential contributors to the market growth. Corrugated and solid fiberboard boxes play a crucial role in organizing these commodities, ensuring safe handling, and protecting contents from environmental conditions. Recent surveys, such as the HomePage News 2023 Consumer Outlook Survey, indicate a continued consumer interest in using corrugated and solid fiberboard boxes for home improvements.
Key Players Driving Innovation
Major companies operating in the corrugated box making machine market, including EMBA Machinery AB, Acme Machinery Pvt Ltd., and Bobst Group SA, are at the forefront of developing advanced solutions. For instance, Bobst Group SA launched the MASTERCUT 1.65 in March 2022, a flatbed die-cutter designed for litho-laminated converting. This machine, with its remarkable ergonomics and high level of automation, demonstrates a commitment to supporting the evolving needs of the packaging industry.
Corrugated Box Making Machine Market Regional Insights
North America emerged as the largest region in the corrugated box making machine market in 2023. The report segments the corrugated box making machine market by type (Semi-Automatic, Fully Automatic), distribution channel (Direct Sales, Indirect Sales), and end-user (Food and Beverages, Electronic and Consumer Goods, Home and Personal Goods, Textile Goods, Other End Users).
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Various stakeholders, including manufacturers, investors, and policymakers, can benefit from this comprehensive market report. Manufacturers can gain insights into emerging trends and customer demands to tailor their product development strategies. Investors can make informed decisions based on corrugated box making machine market projections and trends, while policymakers can use the data to shape regulatory frameworks that encourage sustainable practices in the packaging industry.
In conclusion, the Corrugated Box Making Machine Global Market Report 2023 presents a compelling narrative of growth and innovation within the industry. Stakeholders are encouraged to explore the detailed insights provided in the report to navigate the evolving landscape of the corrugated box making machine market.
Corrugated Box Making Machine Global Market Report 2024 by The Business Research Company provides insights on the corrugated box making machine market size, corrugated box making machine market segments, corrugated box making machine market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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