Global Folding Cartons Market Information, By Wall Construction (single-wall corrugated sheet. Double-wall corrugated packagingTriple-wall corrugated packaging, By End-User (Healthcare, Household, Personal care and others) and Region – Forecast To 2023
Global folding cartons market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of folding cartons market is influenced by the quality and re-closing packets that extend the lifetime. Whereas, under extreme pressure or on stacking, folding cartons may get deformed and act as a major restraint for the growth of the market.
Folding cartons are paperboards that are cut, folded, laminated, and printed for packaging goods. They are available in various sizes and shapes and are often delivered as flat paperboards with creasing to help in packaging. Folding cartons are made of virgin wood pulp, recycled paper stock, or other fibers.
Changes in shopping and eating habits, along with new packaging formats, are driving the demand for printed folding cartons. Paper and board packaging, is the largest segment of the packaging industry. Consumer packaging brand managers are doing everything they can to differentiate their products at the point of sale, such as using new techniques for testing new vibrant colors, and more impactful finishing techniques. Moreover, continual steady growth has been the norm for this type of printing due to their important role of bringing products safely, efficiently and attractively to market.
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There is seen an expanding role of government and other agencies to ensure food safety on a global platform. Government agencies are responsible for setting food safety standards, conducting inspections, ensuring that standards are met, and maintaining a strong enforcement program to deal with those who do not comply with standards. The government policies have become stringent in the emerging economies due to increased awareness about food safety. This acts as a driver for the growth of smart packaging market.
Many vendors such as WestRock, Georgia-Pacific, and Pratt are increasing their production capacity through the development of new production plants or the acquisition of existing players. The increase in capacity will allow vendors to meet the demand for cartons and containerboard, and also reach out to the emerging markets.
Market Research Analysis:
The development of new and diversified technologies is creating exciting opportunities within the packaging industry. Global demand for small electrical appliances, including smart phones, is driving up consumption of mini-flute (low profile) and folding carton packaging. The global folding cartons market can be classified based on region as North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. Asia Pacific is a prominent region for folding cartons, which, going forward, is anticipated to hold its key position. The popularity of dry foods, especially in Asia, is raising the demand for folding cartons. On the other hand, the gradual improvement in these distribution chains, and the expansion of supermarkets in this region, also stimulate folding carton consumption in frozen and chilled food applications.
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Asia Pacific is referred as the largest & fastest growing market for folding cartons. Increasing population, rising packaged & convenience food demand, healthcare expenditure are driving the market in Asia Pacific region. Moreover, rapid industrialization in China and India are expected to propel the regional market in the forecast period.
Europe ranks second amongst other key regional markets for folding cartons. The region is expected to display a steep rise in the demand for folding cartons over the forecast period.
The key players of global Folding cartons market includes Amcor Limited (Australia), Westrock Company (U.S.), Huhtamaki Oyi (Finland), KapStone Paper and Packaging Corp. (U.S.), Sonoco Products Company (U.S.), Georgia-Pacific LLC (U.S.), Rengo Co. Ltd. (Japan), Graphic Packaging Holding Company (U.S.), Schur Pack Germany GmbH (Germany), Multi Packaging Solutions Inc.( New York)
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