The market is expected to generate an incremental $ opportunity of US$ 79.0 Bn between 2022 and 2030; Anti-counterfeit packaging solutions to trigger the market growth
Category: Packaging Published Date : July 2022 ID: CVC-00148-PKG Format: PDF Pages: 304
Folding Cartons Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Folding Cartons Market was worth US$ 147.7 Bn and is expected to grow at a CAGR of 5.5% over the forecast period. The market is expected to hit US$ 226.6 Bn by 2030 end.
Folding cartons are made of paperboard. Its wide availability and sustainability at a cheaper cost make it a popular packaging choice among end-use industries. Compared to bulkier packaging solutions, folding cartons may be created in various sizes based on end-use application, further attracting end-user industries to Packaging.
What are the causes driving the rise in demand for Folding Cartons?
Folding cartons provide numerous advantages, including outstanding printability, rigidity, and flexibility; end-use industries rely heavily on packaging small and medium-sized food and beverage products and consumer goods.
An expanding restriction on single-use plastic packaging by regulatory authorities worldwide, combined with rising consumer sustainability awareness, has compelled end-use sectors to choose eco-friendly and non-plastic Packaging. This trend is projected to increase demand for folding cartons even further in the future years.
What are the opportunities in the Folding Cartons Market?
Renewable and recyclable packaging solutions are increasingly essential in the folding cartons sector. Manufacturers are creating boxes made from fibers from sustainably managed forests and trees. These fibers are developing as a viable replacement for fossil plastic and other non-renewable materials.
Governments worldwide have banned single-use plastic packaging, and increased consumer awareness of sustainability has led to companies adopting eco-friendly and non-plastic Packaging. It will create abundant opportunities for market growth.
Increasing product pricing and lockdown scenarios have negatively impacted global demand for folding cartons. However, the food and beverage and healthcare businesses have contributed to keeping the product growing steadily.
However, 2021 saw a slight increase over 2020 due to fewer COVID instances and increased global transit.
Why is the Food & Beverage segment expected to expand the fastest during the forecast period?
Food and beverage emerged as the largest end-use segment in 2021, accounting for approximately 37.5% of market revenues, and this dominance is likely to continue during the forecast period. The packaged food market’s sustained expansion contributed to the segment’s highest share in 2021.
Globally changing consumer lives and rising disposable income have resulted in greater consumption of convenient food products such as packaged meals. A busy lifestyle and an increase in the number of working women have led to the rise in the consumption of ready-to-eat food products, which is likely to further expand the size of the food & beverage industry in the future.
Why is the Asia-Pacific market for Folding Cartons so promising?
In 2021, Asia Pacific dominated the worldwide folding carton packaging market. China, India, and Indonesia are among the Asia Pacific’s growing economies. Changing consumer lifestyles, higher disposable incomes, and expanding demand for packaged foods like ready-to-eat meals will likely boost folding carton demand over the forecast period.
The increasing presence of organized retail chains in Asia has fueled demand for packaged food goods, benefiting the industry.
The existence of a huge number of companies all over the world has resulted in a highly fragmented market. Key firms are progressively acquiring small and medium-sized businesses to broaden their geographic reach and reinforce their existing portfolio.
Packaging businesses are expanding their efforts to become better environmental stewards. They are expanding production capacity to increase the availability of environmentally friendly solutions for the Packaging, protection, and preservation of fresh food from farm to store.
Some of the key developments that have taken place in the Folding Cartons Market include:
A list of some of the critical suppliers present in the market are:
Market Segments Covered in Report
By Region and Country:
Global Folding Cartons Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Billion for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, End-Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|