Growth opportunities in the folding carton packaging market look promising over the next six years. This is mainly due to continuous progressive demand for dry foods, frozen foods, and cigarettes, specifically in emerging countries like China and India, and the shift towards frozen food due to the easy availability.
Folding Carton Packaging Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The accelerating demand for cigarettes, dry and chilled/frozen foods, primarily in developing nations such as India, Japan, and China, is the major driver responsible for the growth of the global folding carton packaging market. The significant switch towards frozen food owing to the easy accessibility and less time consumption along with the nutritional properties results in the growth of frozen foods, thereby strengthening the market size. Also, favorable initiatives by leading players in the market relating to the investment in recyclable offering cartons to provide eco-friendly solutions. For example, PaperWorks, in 2017, launched coated recycled board (CRB) folding carton substitute allowing household product and healthcare marketers’ access to 100% recycled environment-friendly content, which leaves no carbon footprint behind.
Also, the anti-counterfeit technologies, including embedded barcode and RFID, can easily be implanted on the folding cart owing to its remarkable rigidity and printability. The accelerating integration of anti-counterfeit measures in the packaging of products because of the increasing counterfeiting will further boost the industry. Moreover, the growing worldwide ban on single-use plastic packaging by the regulatory bodies along with the expanding sustainability awareness across consumers has forced end-use industries to choose non-plastic and eco-friendly packaging. This will further promote industry growth. However, as per the folding carton packaging market trends the variations in prices of wood pulp prices led by the demand-supply gap may obstruct the market share.
End-User Segment Drivers
Based on the end-user, food and beverage are anticipated to lead the market over the forecast period. The altering lifestyle of consumers throughout the world, resulting in an escalation in consumption of convenient food products such as packaged food. Moreover, the hectic lifestyle and growing working women population leading to the rise in the consumption of ready-to-eat food products will propel the market growth.
Regional Drivers
Based on the regional coverage, Asia-Pacific is projected to dominate the market over the forecast period. This is largely attributed to the huge prevalence of key players in the region including, Sonoco Products Company, WestRock Company, Amcor, plc, etc. In addition, the switch in consumer preferences and household structure in emerging economies like China and India driving the folding carton packaging market size.
Folding Carton Packaging Market’s leading Manufacturers:
- Seaboard Folding Box Company, Inc.
- Mayr-Melnhof Karton AG
- Rengo Co., Ltd.
- Sonoco Products Company
- WestRock Company
- Smurfit Kappa
- Graphic Packaging International, LLC
- Georgia-Pacific
- HUHTAMAKI OYI
- Amcor, plc
Folding Carton Packaging Market Segmentation:
Segmentation by Type:
- Single-Wall Corrugated Sheet
- Double-Wall Corrugated Sheet
- Corrugated Fibreboard
Segmentation by End-User:
- Food and Beverages
- Household
- Personal Care
- E-Commerce
- Healthcare
- Electrical and Electronics
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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