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The North America Folding Carton Market is estimated to grow at a CAGR of 5.19% between 2022 and 2027. The market size is forecast to increase by USD 3,157.57 Million. The growth of the market depends on several factors, including the increasing use of eco-friendly materials in packaging, the emergence of specialized folding cartons, and growth in retail and e-commerce businesses.
This North America Folding Carton Market report extensively covers market segmentation by material (paper and plastic), end-user (food and beverage products, homecare and personal products, healthcare products, tobacco products, and others), and geography (US, Canada, and Mexico). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing use of eco-friendly materials in packaging is notably driving the North America Folding Carton Market growth, although factors such as the volatility in prices of raw materials used in manufacturing folding cartons may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing use of eco-friendly materials in packaging is one of the major driving factors for the market. Using materials for packaging that are recyclable, biodegradable, reusable, non-toxic, and have a minimal impact on the environment are referred to as eco-friendly. End users, such as the food and beverage industry and producers of household care products, are becoming increasingly aware of the need to use eco-friendly packaging materials. For instance, in 2020, Coca-Cola pledged to collect and recycle the equivalent of every bottle or they sell by 2030 and to make all its packaging 100% recyclable by the same year.
Folding cartons are made from materials like paperboard, which are recyclable and biodegradable and don't harm the environment. Paperboard is produced using recycled or wood pulp-based materials. The majority of the wood pulp made for paperboard is made entirely of recycled materials. Additionally, the leftover scrap from the production of folding cartons can be used to create new folding cartons that can then be recycled once more, helping to lessen environmental pollution. The fact that folding cartons are environmentally friendly has prompted a number of vendors to offer folding cartons that are made primarily of recycled paper.
The rise in M&As in the folding carton market is one of the key trends in the market. The folding carton market in North America is fragmented, with vendors competing fiercely for customers and rapid technological advancements posing significant risks or dangers to the various vendors. The intense competition has increased the number of strategic mergers and acquisitions over the past few years. With the increasing demand for folding cartons from various end-users, such as the healthcare and food and beverage industries, vendors are opting for mergers and acquisitions to improve their market reach and customer base. Also, intense competition in the market is expected to compel established vendors to increase their market presence through mergers and acquisitions. In an effort to expand their market share and establish new markets, the suppliers of folding cartons are focusing on joint ventures and acquisitions. The increase in such M&A activities is also expected to grow in the coming years and will help major vendors to expand their product portfolios and geographical reach in the international market. The overall market is expected to record more such acquisitions during the forecast period.
Volatility in the prices of raw materials used in manufacturing folding cartons is one of the major challenges in the market. The primary raw material used in the manufacturing of folding cartons is paper pulp. In addition to paperboard mills, folding cartons are also made from recycled fiber and virgin fiber obtained from hardboard and softwoods. Due to an imbalance between supply and demand, paper pulp prices have fluctuated significantly. Paperboard, a thinner and more durable paper alternative, is commonly used to create folding cartons. The cost of manufacturing folding cartons may rise as a result of rising paperboard prices, which could ultimately result in higher product prices.
Vendors of folding cartons will experience higher production costs as a result of these raw material price increases, which will also lower their profit margins. As a result, suppliers are compelled to raise the cost of folding cartons in order to pass these expenses along to customers. For this reason, manufacturers are compelled to test out less expensive folding carton alternatives in order to gain a competitive edge in the market. The growth of the market under consideration is thus anticipated to be hampered during the forecast period by an increase in the price of raw materials.
The market report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
North America Folding Carton Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Arkay: The company offers folding cartons for health & beauty products, pharmaceutical products, fulfillment packaging, and F-flute packaging.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the paper segment will be significant during the forecast period. The paper segment is one of the most prominent segments in the folding carton market in North America. It includes various types of paper, such as kraft paper, recycled paper, virgin paper, and others.
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The paper segment was valued at USD 4,884.12 million in 2017 and continue to grow by 2021. Due to its sustainability and environmental friendliness, the paper segment is predicted to hold a sizable market share. Paper-based folding cartons are frequently used to package a variety of goods, including food, drink, medicine, cosmetics, and other items. For instance, in the food and beverage sector, paper-based folding cartons are used to package cereals, snacks, frozen foods, and other perishable goods. Packaging for drugs and medical devices is done in the pharmaceutical industry using paper-based folding cartons.
The demand for folding cartons made of paper is also being driven by the growing e-commerce trend. Demand for sustainable packaging solutions has increased as a result of the rise in online shopping. Due to this, a lot of online retailers package their products in paper-based folding cartons.
The folding carton market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the folding carton market in North America as a part of the global paper packaging market. Paper packaging is an effective and low-cost method used to protect, preserve, and transport a wide range of goods. Key attributes of paper packaging include lightweight, biodegradability, and recyclability. Paper packaging products comprise categories such as packaging boards, kraft paper, and other packaging papers. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Folding Carton Market Scope in North America |
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Report Coverage |
Details |
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Page number |
153 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.19% |
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Market growth 2023-2027 |
USD 3,157.57 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.78 |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amcor Plc, Arkay, Astro Box Corp., BC Box Manufacturing Ltd., Bell Packaging Ltd., Cross Country Box Co. Inc., Diamond Packaging, Edelmann Group, Graphic Packaging Holding Co., Great Little Box Co. Ltd., Imperial Printing and Paper Box Mfg. Co., Industrial Development Co. sal, International Paper Co., Laural Packaging Group South Inc., Oliver Inc., Rinaldi Printing Co., Service Die Cutting and Packaging Corp., WestRock Co., Koch Industries Inc., and Smurfit Kappa Group |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Material
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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