US: 1.646.568.9797 (24x5)
UK: 44.330.808.0580 (24x5)
Worldwide: 91.703.051.960 (24x7)
Industry Insights, Market Size, CAGR, High-Level Analysis: Folding Carton Packaging MarketThe global folding carton packaging market size was valued at USD 119.04 billion in 2018 and is anticipated to grow at a CAGR of 5.3% over the forecast period. Increasing preference for biodegradable packaging over plastic packaging is expected to primarily drive the demand for the folding carton in the coming years. Folding carton is made up of paperboard, wide availability, and sustainability of paperboard at a lower cost makes folding carton a popular packaging choice among end-use industries. Besides, folding cartons can be produced in varied sizes as per end-use application as compared to bulkier packaging solutions this further attract end-user industries towards the packaging. The U.S. accounted for the largest share of the North American market in 2018. The food & beverage end-use segment accounted for the largest revenue share in the U.S. market and is expected to maintain its dominance over the forecast period. The electrical and electronic segment is anticipated to be among the fastest-growing end-use segments during the forecast period. Folding carton offers various benefits, including excellent printability, rigidity, and flexibility, due to these, end-use industries majorly incorporate folding cartons for the packaging of small and medium-sized food & beverage products and consumer goods. Furthermore, an increasing ban on single-use plastic packaging by the regulatory bodies across the world, coupled with rising sustainability awareness among the consumers, has been forcing end-use industries to opt for eco-friendly and non-plastic packaging. This trend is further expected to fuel the demand for folding cartons over the coming years. Anti-counterfeit technologies such as RFID, embedded barcode, and others can be easily incorporated on the folding cart due to its excellent printability and rigidity. Increasing incorporation of anti-counterfeit measures into product packaging owing to rising counterfeiting is further expected to drive the market. However, fluctuation in wood pulp prices owing to the demand-supply gap is expected to negatively impact the market growth as it leads to a substantial reduction in the profit margin of the folding carton manufacturers.
End Use InsightsBased on end-use, the market has been segmented into food & beverage, household, personal care & cosmetics, healthcare, tobacco, electrical and electronics, and others. Food & beverage emerged as the largest end-use segment in 2018, accounting for nearly 37.1% of the market revenues, and is expected to continue its dominance over the forecast period. The steady expansion of the packaged food market attributed to the segments largest share in 2018. Changing consumer lifestyles across the world, coupled with rising disposable, has resulted in increased consumption of convenient food products such as packaged food. Furthermore, a busy lifestyle and increasing working women population have been leading the rise in the consumption of ready to eat food products, which in turn expected to further expand the size of the food & beverage segment in the coming years. The personal care & cosmetic industry has been experiencing considerable growth from the past few years on account of increasing demand for organic beauty products. Furthermore, the rising aging population has resulted in augmented demand for skincare products. Therefore, expanding the personal care & cosmetics market is anticipated to fuel the demand for folding carton in the coming years. The electrical and electronics end-use segment is anticipated to grow at the highest CAGR of 6.6% over the forecast period. Rising technological advancement has been leading to the development of various electronic products. In addition, increasing the development of compact-sized electrical products also offers lucrative opportunities for the folding carton manufacturer as the folding carton is an ideal packaging solution for small-sized products. Thus, the steady growth of the electrical & electronics industry is anticipated to impact positively on demand for folding carton in the coming few years. Folding carton finds significant application in tobacco packaging owing to its convenience and printability. The global tobacco industry has been witnessing considerable traction despite the severe taxation and bans, mainly due to increasing demand from the millennial population. Increasing stress levels among the younger population have also been fueling the demand for tobacco products such as a cigarette. Therefore, the growing tobacco industry is also anticipated to generate considerable demand for the folding carton in the coming few years.
Regional Insights of Folding Carton Packaging MarketThe Asia Pacific dominated the global folding carton packaging market in 2018. The Asia Pacific comprises several emerging economies, including China, India, and Indonesia. Factors such as changing consumer lifestyles, rising disposable incomes, and growing demand for packaged foods such as ready-to-eat meals, are expected to augment the demand for folding carton over the forecast period. Furthermore, the growing penetration of organized retail chains in the Asia Pacific region has also been fueling the demand for packaged food products, which in turn benefits the market. E-commerce companies majorly prefer folding carton for delivering products to consumers due to its rigidity and sustainability. Therefore, expediting e-commerce market in the region is further anticipated to augment market growth over the coming years. The Middle East & Africa region is likely to witness a substantial growth rate over the forecast period. Factors including infrastructure development and urban expansion have increased the demand for foods and beverages across the Middle East & Africa region, in recent years. In addition, changing consumer lifestyle and rising government emphasis on environmentally friendly packaging are anticipated to boost market growth in the region.
Market Share Insights of Folding Carton Packaging MarketThe key players operating in the global market are WestRock Company, Bell Incorporated, Graphic Packaging International, LLC, Amcor Limited, Huhtamaki Oyi, Sonoco Products Company, Georgia-Pacific LLC., and others. The market is highly fragmented by the presence of a large number of players across the globe. Key players are increasingly acquiring small and medium sized companies to expand geographically and also to strengthen their existing portfolio.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Folding Carton Packaging Market Research Report: This report forecasts revenue growth at global, regional & country levels, and provides an analysis on the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global folding carton packaging market report on the basis of end use and region.
Folding Carton Packaging End Use Outlook (Revenue, USD Million; 2014 - 2025)
- Food & Beverages
- Personal Care & Cosmetics
- Electrical & Electronics
- Folding Carton Packaging
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database 1.3.2. GVR’s Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization | read more...