LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global corrugated packaging industry and the industry is poised to experience spend growth of more than USD 50 billion between 2019-2024 at a CAGR of over 4% during the forecast period. Request Free Sample Pages.
Read the 129-page research report with TOC and LOE on "The Global Corrugated Packaging Industry – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”
Corrugated packaging is one of the highly preferred packaging solutions in the e-commerce industry owing to its resilience against moisture and the ability to carry a wide range of weights. With the growing stringency of environmental regulations, sustainability is becoming a priority for buyers in the manufacturing sector who are procuring packaging solutions that are made of natural materials such as paper and use adhesives from natural sources such as maize or wheat. This availability of sustainable packaging materials and the steadily growing demand for the same is contributing to spend growth in the corrugated packaging industry.
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Insights into the industry price trends
- Fluctuations in the prices of some of the primary raw materials that are used to manufacture corrugated packaging solutions such as paper and paper products will significantly increase supplier’s overall operational cost. This will be ultimately compensated by buyers in the form of excess procurement spend.
- Buyers can expect a further rise in their procurement price which is a direct impact of the rising costs of oil and gas. This is increasing corrugated packaging supplier’s logistics costs which tend to have an inflationary impact on the industry price.
What are the strategies to adopt to optimize procurement spend in this industry?
Engage with vertically integrated suppliers
Considering the fact that raw material price is posing as a significant cost accelerator, it is prudent of buyers to engage with vertically integrated suppliers, such as those having their own production operations for raw materials such as wood pulp and paper. This will help suppliers in reducing the cost associated with vendor and contract management. Through vertical integration, suppliers can reduce their supply chain risk and ensure an uninterrupted supply of corrugated packages to buyers.
Engage with suppliers that facilitate reengineering of corrugated packages
Reengineering is defined as redesigning a product to increase its efficiency and reduce the cost associated with its management such as storage and logistics. Buyers should engage with suppliers that facilitate reengineering of corrugated packages to save costs in terms of raw materials and minimize the generation of waste in their facilities. It also helps in package optimization by reducing the weight and size of the corrugated package.
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Some of the key topics covered in this report are:
- Corrugated packaging industry spend segmentation by region
- Total cost of ownership analysis in the corrugated packaging industry
- Regional spend opportunity for corrugated packaging suppliers
- Corrugated packaging suppliers cost structure
- Corrugated packaging pricing models analysis
- Corrugated packaging procurement best practices
- Category management objectives
- Cost saving opportunities in the corrugated packaging industry
Free sample of reports that you may like:
- Global PET Packaging Market - Procurement Intelligence Report
- Global Sustainable Packaging Market - Procurement Intelligence Report
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