Malaysia Corrugated Packaging Market Set For Rapid Growth Until 2031
The Malaysia corrugated packaging market has been gaining significant traction over the past few years owing to growth of the e-commerce and food & beverage industries in the country. Corrugated packaging boxes find extensive applications in shipping a variety of products across various end-use industries such as food & beverages, personal care & home care, paper & allied products, glassware & ceramics, and others. Corrugated packaging helps protect products from damage during transit and storage. The sustainable properties, printability, and cost-effectiveness of corrugated packaging have been driving its demand in recent years.
The Global Malaysia Corrugated Packaging Market is estimated to be valued at US$ 1.00 Bn in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Malaysia corrugated packaging are Sarnti Packaging Co., Ltd., Toppan Printing Co., Ltd., Bobst Group SA, SCG PACKAGING., Huhtamaki Group and Among Others. These players are focusing on expanding their production facilities and capacities in Malaysia to cater to the rising local demand. The growing e-commerce sector in the country is also creating numerous lucrative opportunities for players in the corrugated packaging market. Leading companies are investing in sustainable and innovative corrugated packaging solutions to tap into the business opportunities arising from the online retail boom. To leverage the high market potential, several global players are setting up manufacturing bases in Malaysia through mergers and acquisitions with local players. This is helping them expand their geographical footprint and strengthen market position.
Market Drivers:
Rise of the e-commerce industry in Malaysia is a major factor driving the demand for corrugated packaging solutions in the country. Growing online shopping and increase in doorstep deliveries have been boosting the sales of corrugated boxes for effective product packaging and shipping. In addition, increasing demand from the food & beverages industry is also propelling the Malaysia corrugated packaging market. Rapid urbanization and growth of the organized retail sector in Malaysia have been augmenting the sales of packaged food & beverages, which is fueling the sales of corrugated boxes.
Market Restraints:
Volatility in raw material prices is a major challenge for players in the Malaysia corrugated packaging market. Fluctuations in prices of core raw materials such as linerboard and test liner used for manufacturing corrugated boxes can negatively impact the profit margins of manufacturers. Furthermore, rising environmental concerns about non-biodegradability of certain types of corrugated packaging materials may hamper the market growth to some extent over the forecast period. However, ongoing R&D towards developing eco-friendly and sustainable corrugated packaging solutions is expected to counter this restraint.
Segment Analysis
The Malaysia corrugated packaging market is dominated by the food and beverages segment. Food and beverages account for over 30% of the total market share as corrugated packaging is used extensively to package, protect, and transport various food products as well as beverages. The segment experiences high demand attributed to growth in packaged and processed food sales in the country. Growth in the e-commerce industry is also driving demand in the food and beverages segment as more people opt for doorstep delivery of goods. The chemicals segment holds the second largest share in the market. Corrugated packaging finds wide application in the chemicals industry for packaging of industrial and household chemicals, fertilizers, lubricants, solvents, and others.
Global Analysis
The Asia Pacific region is the fastest growing as well as the dominating regional market for Malaysia corrugated packaging. This can be attributed to high demand from countries like Malaysia, China, and India. Rapid industrialization and rising e-commerce activities in the region are driving market growth. China dominates the Asia Pacific corrugated packaging market with the largest share. The country witnesses high demand from industries such as food and beverages, automotive, chemicals, personal care, and others. Other emerging economies in Southeast Asia also contribute to market growth. North America holds the second position globally in terms of market share.
What Are The Key Data Covered In This Malaysia Corrugated Packaging Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Malaysia Corrugated Packaging Market's growth between 2024 and 2031.
:- Accurate calculation of the size of the Malaysia Corrugated Packaging Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Malaysia Corrugated Packaging Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Malaysia Corrugated Packaging Market vendors
FAQ’S
Q.1 What are the main factors influencing the Malaysia Corrugated Packaging market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Malaysia Corrugated Packaging Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Malaysia Corrugated Packaging market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
Get more insights on this topic: https://www.marketwebjournal.com/united-states-oil-and-gas-chemicals-market-trend-size-and-demand/
Comments
0 comment