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Global Folding Cartons Market was Valued at US$ XX Bn in 2019 and it is Expected to Reach More than US$ 3.76 Bn by 2028, Likely to Grow with the CAGR of 6.0 % During the Forecast Period.
Folding carton is considered to be the most prominent and common forms of consumer packaging. The global market for folding cartons is currently driven by the rising food and beverage packaging industry. These are widely used in retail packaging. Rising concerns regarding product safety and ease of handling are improving the need for folding cartons. Changing food habits and changing lifestyles are important elements boosting the growth of the folding cartons market during the forecast period.
The demand for folding cartons is projected to increase further due to the cost structure and safety provided by these cartons during transportation. Increasing demand and popularity for packaged & take-away food items are also expected to affect the market for folding cartons in Asian countries.
Growth in the folding cartons market is mainly due to the growing demand for frozen food, dry food, and cigarettes, especially in developing economies. The market for folding carton packaging from developed economies is expected to remain constant over the forecast period.
Folding cartons packaging is one of the most famous eco-friendly packaging solutions. Applications range from simple local storage solutions to packaging solutions for electrical equipment. The biggest consumers of the solutions include the food & beverage sector, the e-commerce tobacco industry, and household goods. Industries are also investing heavily in recyclable folding cartons to deliver eco-friendly options and thus reach a wide range of potential customers.
One of the important factors behind the rise in the folding cartons market is the increase in technological innovation. The use of the latest innovative methods and designs, product launches address the growing demand for folding cartons. As an increase in population and a rise in disposable income of consumers, the demand for food will rise in many parts across the globe.
On The Basis Of Market Structure, Straight Tuck End Segment Expected To Witness High Demand during Forecast Period (2020-2028)
Straight tuck end market is considered as the most common structure in the folding cartons market and is commonly preferred by end users. The use of Straight tuck end structure is to increase the growth rate value of the folding cartons market. This form of folding cartons market segment is predicted to be the most lucrative segment in the market and expected to witness a CAGR of xx% by 2028.
On The Basis Of End User, Food & Beverages Segment Expected To Witness High Demand During Forecast Period (2020-2028)
Many retail stores use folding carton boxes not only to protect food but also to retain the nutritional value of food by-products. An increasing number of customers are purchasing supermarket products, including chilled and frozen food, which will also lead to the growth of this market. Increased consumer demand for convenience food across the globe & organized retailing has resulted in increased demand for folding cartons. Food vendors are under pressure to deliver longer shelf-life items & appealing packaging to draw consumer attention.
Asia Pacific Region Had Accounted For A Significant Share In Global Folding Cartons Market In 2019.
The China Folding Cartons market is likely to have a significant growth rate during the forecast period 2020-2028. Chinese consumers are switching to packaged goods that provide comfort, esthetics and lifestyle branding. This growing demand for packaged food products is stoking the growth of the country's folding carton packaging market. China is one of the biggest sources of folding cartons, both in terms of volume and value, because the country's low cost of production reduces the shipping costs of these goods. In addition, the country is also leading the way to an increase in online grocery shopping among Asian countries. The growth in online grocery shopping correlates to the increased demand for convenience food and packaged food items, both of which contribute to the market for folding cartons.
Competitive Landscape Analysis
The folding carton market is highly competitive and consists number of key players. As far as market share is concerned, few of the key players currently dominate the market. However, with creative packaging, several businesses are growing their market presence by winning new contracts and tapping new markets. Some of the manufacturers in the Folding cartons market are as WestRock Company, Graphic Packaging Internatinal, Mayr Melnhof Carton, Seaboard Folding Box, Quad Graphics Inc., Smurfit Kappa Group. These players focus on growing their footprint in emerging countries through acquisitions partnerships.
Folding Cartons Market Segmentation:
Folding Cartons Market by Structure
- Reverse tuck end
- Straight tuck end
- Tuck top snap-lock bottom
- Tuck top auto-bottom
- Full seal end
Folding Cartons Market by End-User:
- Cosmetics & Personal Care
- Food & Beverages
- Electrical & Electronics
- Other Industries
Folding Cartons Market by Order Type:
Folding Cartons Market by Region:
- North America
- Latin America
- Middle East & Africa