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The Folding Carton Market size is forecast to increase by USD 43.65 billion, at a CAGR of 4.69% between 2023 and 2028.
The growth rate of the market depends on several factors such as the rise in demand for digitally printed folding cartons, the growing demand for folding carton food delivery and takeaway, and the growth of the e-commerce sector.
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The rise in demand for digitally printed folding cartons drives the market growth. Digital printing is gaining traction in the global market due to the demand for fast turnaround and personalized packaging from various brands. In addition, various retailers, brands, and their supply chain partners are experiencing a rise in demand for folding cartons with appealing graphics to grab consumer attention.
Moreover, some companies are focusing on offering digital printing technology for the packaging market. For example, Amcor plc offers Sunshine printing technology, which consists of an in-line application of a bright silver coating over an ultraviolet (UV) or electron-beam (EB) primer. Furthermore, this printing technology offers a highly reflective metallic effect and unlimited design possibilities for folding carton applications. Hence, such factors are driving the market growth during the forecast period.
Technological advances in folding cartons is an emerging trend in the market. Technological advancements are expected to offer new opportunities for the market as the demand for the packaging type continues to grow. In addition, some of the major vendors of folding cartons have been focusing on offering new products with advanced features. Furthermore, the new product features nanotechnology decorative elements developed specifically to catch the eye and interact with customers in the retail drinks environment.
Moreover, the product is made from FSC-certified paper and printed with a floral design. In addition, the rise in awareness of food safety among consumers has resulted in the development of a range of coatings, such as barrier coatings for folding cartons. Furthermore, the use of coatings helps prevent the absorption of undesirable contaminants into food products, such as mineral oil components from varnish or print ink residues, into the product. Hence, such factors are driving the market during the forecast period.
The rise in occurrences of contamination from recycled paperboard is hindering the market growth. Paper and paperboard must be recycled for further use to reduce the resultant waste and landfill. In addition, recycling of materials helps in reducing emissions and minimizing the use of resources.
However, the paper and packaging industry uses wastepaper to manufacture all kinds of secondary packaging, such as folding cartons. In addition, orienting inks such as varnish or print ink used in recycled paper contain mineral oil, which can contaminate the packaged food. Furthermore, when food is stored in such packs for more than five weeks, the quantity of mineral oil content in the food may increase, which can turn out to be a major health concern. Hence, such factors are hindering the market during the forecast period.
The food and beverage segment is estimated to witness significant growth during the forecast period. The potential growth of packaged food and beverage sales is generating the demand for folding cartons across the globe. In addition, the changing lifestyles and food habits are significant factors for the growth of the packaged food and beverage industry.
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The food and beverage segment was the largest segment and was valued at USD 54.28 billion in 2018. Moreover, packaged food manufacturers are adopting rigid packaging solutions that are appealing to consumers and are less likely to get damaged during transportation, which in turn helps stimulate the demand for folding cartons for food and beverages. In addition, folding cartons are used for packaging food and beverage products such as cereals, dry food, frozen foods, candies and confectioneries, dairy products, refrigerated meat, wine, juices, beer, carbonated soft drinks, non-carbonated specialty beverages, and others (as secondary packaging). Hence, such factors are fuelling the demand of this segment which in turn drives the market during the forecast period.
Based on the material, the market has been segmented into paper and plastic. The paper segment will account for the largest share of this segment. The paper folding carton segment is widely used in the packaging of soap, perfumes, and other cosmetic products. In addition, the demand in the cosmetics industry drives the growth of the paper segment. Moreover, paper folding cartons are often perceived as more eco-friendly than plastic due to their paper-based composition and recyclability. In addition, the paper material can be customized with various shapes, sizes, and features, enhancing brand identity and product appeal. Furthermore, growing restrictions on plastic use and consumer preference for sustainable packaging are driving demand for paper-based alternatives. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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APAC is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. China is one of the major consumers of folding cartons and thus contributes toward the growth of the market in APAC. In addition, the demand for folding carton packaging is primarily expected to arise from the food industry during the forecast period. Moreover, various countries in APAC are experiencing a rise in population and increasing urbanization. In addition, this is leading to an increase in the consumption of various products such as food products, personal care, and consumer goods. Furthermore, there is a presence of a large number of food and beverage and personal care product manufacturers in the region. Hence, such factors are driving the market in APAC during the forecast period.
Companies 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.
All Packaging Co: The company offers low carbon and ultra low carbon ferrochrome for stainless steel production.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Amcor plc, American Carton Co., Bell Inc., DS Smith Plc, Edelmann Group, Essentra Plc, Graphic Packaging Holding Co., Greif Inc., Huhtamaki Oyj, International Paper Co., Mayr Melnhof Karton AG, PaperWorks Industries Inc., Rengo Co. Ltd., Schur Flexibles Holding GesmbH, Seaboard Folding Box Co. Inc., Smurfit Kappa, Stora Enso Oyj, Unipak Inc., and WestRock Co.
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report encompasses the entire market adoption cycle, ranging from the initial innovator phase to the subsequent laggard stage. It emphasizes adoption rates across various regions, determined by penetration levels. Additionally, the report outlines essential purchasing factors and factors influencing price sensitivity. This aids companies in assessing and formulating effective growth strategies.
Customer Landscape
The market report forecasts market growth by revenue at global, regional & country levels and provides a market growth analysis of the latest trends and growth opportunities from 2018 to 2028.
The market addresses pressing concerns like counterfeiting and intellectual property rights, especially in medicine legislation, where criminal law aspects govern medicine counterfeiting. Serialized folding carton packaging solutions, integrated with D matrix codes and electronic inspection, combat falsification in pharmaceutical products effectively. The folding carton industry emphasizes recyclable materials, employing aluminum or plastic inner packaging with food safe colors and embellishments. Despite challenges like pulp cost and environmental standards, paper mills continue to innovate with dispersion coating technology and fluorochemicals for ready-to-eat products.
Moreover, the market aligns with circular economy principles, promoting online delivery mediums and recycled plastic to reduce plastic counterparts' impact. As governments enforce plastic taxes, recycled plastic gains traction, influencing carton board consumption positively. The market remains resilient, adapting to evolving regulatory landscapes while championing sustainability and innovation in packaging solutions.
Folding Carton Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.69% |
Market Growth 2024-2028 |
USD 43.65 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.17 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 50% |
Key countries |
US, Canada, China, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
All Packaging Co., Amcor plc, American Carton Co., Bell Inc., DS Smith Plc, Edelmann Group, Essentra Plc, Graphic Packaging Holding Co., Greif Inc., Huhtamaki Oyj, International Paper Co., Mayr Melnhof Karton AG, PaperWorks Industries Inc., Rengo Co. Ltd., Schur Flexibles Holding GesmbH, Seaboard Folding Box Co. Inc., Smurfit Kappa, Stora Enso Oyj, Unipak Inc., and WestRock Co. |
Market dynamics |
Parent market analysis, Market forecasting, 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 |
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 End-user
7 Market Segmentation by Material
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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