The global corrugated packaging demand in the homecare sector is expected to see stable growth in developed markets while a significant potential for growth in emerging and developing markets.
Recently, the homecare care sector remained quite stable in the developed countries. We expect some additional growth due to micorflute advancements in few product categories substituting folding cartons.
Some major growth drivers will be developing and emerging markets in Asia and Africa, where consumers will start using home care products such as detergents powders rather than bar soap. Most home care products are going to be shipped in corrugated packaging used as a secondary packaging to retailers to protect the products from damage. These secondary packaging can then be removed fully before putting the products on the shelves. In some cases, the packaging removed partially and the bottoms are left in the form of corrugated trays to keep the set of products tight and tidy. These retail ready packaging will be one of the key growth area underpinning demand for corrugated packaging.
Asia has the biggest share of the home care market with laundry care the main driver of growth and this trend will continue over our ten year forecast period. Asia accounts for around half of the world household care products followed by Europe, Central and South America, and North America respectively. We expect a rise in the retail chains where more stores will be opened during the forecast period will support the corrugated packaging industry.
Another key trend which has been developing in the corrugated packaging market is the large format. Consumers are now increasingly conscious about the value for money and the quality. Brand owners usually offer discounts on large sizes/formats of products which further reduce the prices and attract customers. In laundry products, particularly, detergent powders are coming in large formats with special offers to attract customers.
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