Future Market Insights
Global XXL Packaging Market: Overview
XXL packaging format comprises of large boxes, which can be manufactured only in dedicated plants. XXL packaging is mostly preferred when the products in consideration have an unusually large shape, and do not lie in the spectrum of daily packaged goods. In addition to serving the aforementioned purpose, XXL packaging is also found to be useful when the idea is to achieve high transit and storage efficiency by larger pack sizes. XXL packaging is usually manufactured from single and double wall corrugated grades. Furthermore, XXL packaging is customizable, and is available in a wide range of standard and custom sizes. One of the key attributes for high preference of XXL packaging for bulk products is convenience. XXL packaging allow gluing, taping, and stitching, or a combination of these to deliver required performance. The global XXL packaging market is expected to witness healthy growth over the forecast period due to their customizability and ease of use. Growing penetration of modern trade is expected to further bolster the global XXL packaging market, ensuring a positive outlook, during the forecast period.
Global XXL Packaging Market: Dynamics
The global transport and logistics industry has undergone significant transformation over the past couple of decades in terms of variety of goods shipped across lands. High penetration of modern trade in countries, coupled with increasing use of online shopping format has pushed the limits of trade beyond expectations. The global XXL packaging market is expected to grow on the backdrop of logistics sector growth, which is expected to have a largely positive outlook, over the forecast period. In addition to providing custom XXL packaging dimensions, manufacturers of XXL packaging solutions are focusing on additional features such as special liners, and barrier coatings to improve efficiency. Also, due to the large surface area of XXL packaging solutions, it provides an opportunity for the brand or manufacturer to use the surface as a brand awareness enhancement medium. The surface of XXL packaging is printable and can include barrier coatings such as scuff resistant and water resistant coatings. XXL packaging is therefore expected to be highly preferred as a proven means of reducing risk of transit and storage damage. Furthermore, XXL packaging is 100% recyclable and hence, ranks at the top in the list of sustainable packaging solutions for large products.
Despite the positive outlook, there are certain factors that might affect growth of the global XXL packaging market, such as, rise in preference for alternative large product packaging solutions such as Octabins.
Global XXL Packaging Market: Segmentation
The global XXL packaging market is segmented as follows –
On the basis of end use industry, the global XXL packaging market is segmented as -
Global XXL Packaging Market: Regional Overview
The global XXL packaging market has been divided into seven region as follows –
Being a mature market with a large volume of goods and logistics in bulk, North America leads the charge in the global XXL packaging market, followed by the Asia Pacific region. The volume of the Asia Pacific XXL packaging market is expected to increase significantly over the forecast period. Economic boom in the Asia Pacific region is expected to transform the logistics sector. The rapid development of economies such as China and India show very little sign of any slow-down. This, combined with increasing integration between these countries in terms of free trade has enabled manufacturers to be offered better prospects and investment returns and has resulted in increased focus of investors in the Asia Pacific region, especially BRICS countries. Increased volume of trade is expected to directly impact the global XXL packaging market. Latin America is also expected to register decent growth in XXL packaging volume during the forecast period. Eastern and Western Europe currently have a strong market share owing to high trade volume, which is expected to remain rather dormant as the focus shifts toward emerging economies.
Global XXL Packaging Market: Key Players
Few of the key players operating in the global XXL packaging market are – The Smurfit Kappa Group, DS Smith Plc, Canpak Packaging, and ROBA Group, among others.
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