The Japanese corrugated board market is expected to reach US$5.02 billion by 2022, according to a new report by Grand View Research, Inc. The growing consumption from the food and beverage packaging industry is expected to boost the demand.
The booming e-commerce business is also expected to augment the demand for corrugated boards. Flexibility and lightweight of corrugated boards enable easy handling and transportation, which is a requisite for the e-commerce industries. Growing regulatory pressure regarding non-biodegradable packaging materials in the country is anticipated to boost the corrugated board market demand.
Japan is expected to witness significant growth on account of various factors such as rising industrial activity in the manufacturing sector that requires corrugated packaging to transport and protect goods. Ongoing developments in small flute and high-quality graphic board are expected to boost the penetration of corrugated boxes in traditional folding carton applications.
Further key findings from the report suggest:
• Electrical goods is the fastest-growing application and expected to register a CAGR of 1.5% from 2015 to 2022 owing to increased demand for consumer electronics
• Transport application segment is projected to grow at a CAGR of 0.9% from 2015 to 2022 owing to the presence of manufacturers such as Toyota; Honda; and Nissan
• The beverages application segment is projected to grow at a CAGR of 1.0% from 2015 to 2022 owing to the presence of manufacturers such as Kirin Brewery; Asahi Breweries; and Suntory Holdings
Read the full report: https://www.reportlinker.com/p05171115