Folding cartons, also known as box boards, are built out of paperboard and goes through stages of cutting, folding, and lamination. It is used for the packaging of lightweight products and designed according to the shape of products for attracting customer attention. The global folding cartons market report by Market Research Future (MRFR) contains an unbiased view of the market replete with drivers, challenges, trends, and opportunities for the period of 2017 to 2023 (forecast period). The COVID-19 outbreak and its implications for the industry are taken into account for the forecast period.
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Market Scope
The global folding cartons market is expected to expand at a healthy growth rate of 3.02% owing to rapid procurement of goods and the access to online stores. Increased demand for convenience foods from consumers around the globe and organized retailing has resulted in higher demand for folding cartons. Food vendors are under pressure to offer products with a longer shelf life and attractive packaging to gain customer attention. The use of folding cartons for displaying individual products and cause a surge in sales can favor the market growth.
Huge demand for food products, rise in the global population, and a surge in disposable income levels can drive the global market demand till 2023. In addition, favorable demographics, rising demand for processed foods, and shift to retail level packaging can bode well for the market. Other innovations expected to lend an aid to market demand are integration of Fresnel lenses, holographic images, and QR codes. This can support the trend of smart packaging and create brand awareness among consumers.
Market Segmentation
The global folding cartons market has been segmented into wall construction and end-use.
By wall construction, the global folding cartons market has been segmented into single-wall corrugated, double-wall corrugated, and triple-wall corrugated.
By end-use, the global folding cartons market has been segmented into healthcare, household, personal care, and others.
Regional Analysis
In terms of geography, Asia Pacific (APAC) accounted for a major market share and will continue to dominate the global folding cartons market in the forecast period. The increase in the revenue share of this segment is attributed to the augmented demand for convenient packaged food products from consumers in the region. Also, developments in organized retailing in various countries in region and emergence of various urban areas are expected to contribute to the growth of the market in the future.
Europe has assumed the second spot in the global folding cartons market owing to a surge in online shopping and preference for medicines and foods from online stores. Rise in recycling of folding cartons will positively impact the market.
North America can capture a relevant share of the global market, with major contribution from the U.S. Expansion of sectors such as electrical & electronic, healthcare, and food & beverages are likely to impact the market demand till 2023. Strict regulations pertaining to quality, flexibility in packaging of drugs, and client demand for healthcare products can spur the demand for folding cartons.
Competitive Landscape
The rise in population and increase in disposable income are presumed to drive the folding cartons market growth worldwide. The global folding cartons market could be challenged by lack of skilled labor, nevertheless, organizations in the folding cartons market will carry the growth rate forward. The folding cartons market research report presents company profiles of major companies active in the folding cartons market globally. Furthermore, the global folding cartons market report offers an all-inclusive analysis of the market collected from the folding cartons market’s primary and secondary sources covering both decision makers and thought leaders. The folding cartons market research report highlights such key areas assisting businesses operating in the folding cartons market to build better growth strategies.
Key Market Players:
Amcor Limited, Graphic Packaging Holding Company, Huhtamaki Oyi, Schur Pack Germany GmbH, Georgia-Pacific LLC, Sonoco Products Company, Multi Packaging Solutions Inc., Westrock Company, Rengo Co. Ltd., and KapStone Paper and Packaging Corp. are key players of the global folding cartons market. Players in the market are embracing new technologies to cater to client requests for product integrity and quality. Recently, Keystone Folding Box Company integrated a new die cutting and gluing equipment to its facility to increase the capacity of vial packaging.
Industry News
Oil prices and politics are the backbone of economic growth in the Middle and Near East. In recent years, both of them have developed a sense of hope. Moreover, demographic and social conditions such as a booming youth and increasing urban growth have played an important part in shaping the region's economic upswing. In addition to conventional dining choices, for instance, fast food restaurants and a growing range of online food delivery applications are now being introduced. Many foods are processed locally as competitive simple substrates.
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