Report : Europe Corrugated Boards Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Food and Beverage, E-commerce, Consumer Durables, Electrical and Electronics, and Others)
Process food industry Segment to dominate Europe Corrugated Boards Market during 2020–2028
According to a new market research study on “Europe Corrugated Boards Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application,” is expected to reach US$ 30,718.13 million by 2028 from US$ 21,931.55 million in 2021. The market is estimated to grow at a CAGR of 4.9% from 2021 to 2028. The report provides trends prevailing in the Europe corrugated boards market along with the drivers and restraints pertaining to the market growth. Raising advancements in digital printing boosting expansion of online retail, and surging demand for corrugated boards in diverse application range are the major factor driving the growth of the Europe corrugated boards market. However, changing prices of raw materials hinders the growth of Europe corrugated boards market.
Several industrial bases such as electronics, automotive, food and beverage, and other industrial sectors have been impacted by the pandemic, which has negatively impacted the demand for corrugated board in the regional market. However, the increase in the use of e-commerce retail sites during the pandemic supported the corrugated board market growth to an extent. The gradual upliftment of lockdown restrictions in certain countries in Europe will facilitate the recovery of various industries and logistics operations and will have a positive impact on the corrugated board market.
The Europe corrugated boards market is segmented on the basis of application and country. Based on application, the market is segmented into food and beverages, e-commerce, consumer durables, electricals and electronics, and others. In 2020, food and beverages segment held the largest share in the market, e-commerce is expected to be the fastest growing segment during the forecast period. Further based on food and beverages, the market is segmented into process food industry, fresh fruit and vegetable packaging, and others. In 2020, process food industry segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into the Germany, France, Italy, the UK, Russia, and Rest of Europe. In 2020, Germany held the largest share in the market, and it is also expected to be the fastest growing country during the forecast period.
Klabin S.A.; International Paper; Arcor; Mondi; NIPPON PAPER INDUSTRIES CO., LTD.; Smurfit Kappa; Klingele Papierwerke GmbH & Co. KG; and WestRock Company are among the leading companies in the Europe corrugated boards market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, International Paper Acquires Two Corrugated Packaging Plants in Spain.
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