The Japan corrugated board market size is estimated to be USD 5.02 billion by 2022, according to a new report by Million Insights, Increasing food & beverage industry is predicted to augment the market growth over the forecast period.
The corrugated board was used for fragile glassware materials. Increasing demand for packaging materials in order to ensure the freshness of the products while transportation is projected to increase the adoption of corrugated board.
Further, the rapidly increasing e-commerce industry in Japan is estimated to fuel market growth. Corrugated materials that are light in weight can be handled easily, thus, becoming ideal for the e-commerce industry. In addition, stringent regulation regarding the use of environment-friendly materials is predicted to aid market growth.
Japan is witnessing significant growth in industrialization that require robust packaging solution to transport goods from one place to others. Recent developments in small flute and growing demand for quality graphics are anticipated to bode well for the market growth.
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Further key findings from the report suggest:
• Electric goods were the highest growing segment with an expected CAGR of 1.5% over the forecast period.
• Transport application is expected to grow at a CAGR of 0.9% over the forecast duration owing to the presence of leading automotive players such as Honda, Nissan and Toyota.
• The beverage category is projected to register a CAGR of 1.0% over the forecast duration.
• Key players operating in the Japan corrugated board market are Yamakoh, Co., Ltd., ISOWA Corporation, Nippon Paper Group, Inc., Rengo Co., Ltd and Oji Holdings Corporation among others.
Million Insights has segmented the Japan corrugated board market on the basis of application:
Japan Corrugated Board Application Outlook (Volume, Million Square Meters; Revenue, USD Million; 2012 - 2022)
• Food Product
• Personal & Household Care
• Electrical Goods
• Glassware & Ceramics
• Paper Products