Corrugated totes are light weight containers used for storage of products and goods from several end use industries like food, cosmetics, personal care, pharmaceuticals, etc. It is manufactured by material such as plastic, paper & paperboard, etc. Corrugated totes surrounded with steel ring from the top are used for increasing its strength and durability. Corrugated totes market is influenced by the increase in the usage for distribution in warehouses.
Warehouse industry utilizes this corrugated totes for the storage of finished goods and raw material. The manufacturers of corrugated totes are focusing on increasing strength, flexibility, and rigidity. It will increase the demand for corrugated totes in other application industry. Corrugated totes commonly used for the distribution process due to its lightweight nature and easy to maintain when not in use. Corrugated totes are cost efficient as compared to carate, which reduce the cost of storage and logistics. Therefore, the demand for corrugated totes is expected to increase in the forecast period.
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Global Corrugated Totes Market – Dynamics:
The corrugated totes market is expected to grow on the framework of the fresh produced industry, which is growing at a good pace in the forecast period, globally. The need for corrugated totes is expected to increase by providing variation in design, specification offered, and by fulfilling diverse storage requirement. Trend arising in the corrugated totes market by monitoring the benefits that provide systemic storage at an affordable cost. Manufacturers of corrugated totes are offering a stable and rigid alternative as compared to crates. Corrugated totes are available in different shapes and size according to the need of the customer. The increase in consumption of packaged food, which requires totes for storage is also expected to increase the demand for corrugated totes. Therefore, these are the primary factor creating a positive impact on the growth of the global corrugated totes market.
Global Corrugated Totes Market – Regional Outlook:
North America and Europe are expected to be the most prominent market for corrugated totes in the forecast period. Due to the highly organized structure of working needs to implement the use of corrugated totes. The Asia Pacific is expected to witness a positive growth towards corrugated totes. Owing to the increased in international trade and product of milk and fresh product in an emerging economies such as India and China is expected to increase the demand for corrugated totes in the Asia Pacific market.
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Recent Developments in the Global Corrugated Totes Market:
- In August 2017, Georgia Pacific, LLC, and Koch Industries acquired Lebanon-based PAX Corrugated Products. This acquisition will help Georgia Pacific, LLC, and Koch Industries to expand its corrugated sheet production.
- In April 2019, International Paper Company acquired Envases Grau. Company has four packaging plant in Spain. It will help to grow International Paper Company business in Spain.