Folding Carton Market Overview By Size, Share, Trends, Growth Factors, Historical Analysis, Opportunities and Industry Segments Poised for Rapid Growth by 2029
The global folding carton market size is projected to experience speedy growth in the forthcoming years owing to the increasing demand for folding carton from the electrical industry, finds Fortune Business Insights™ in its report, titled “Folding CartonMarket, 2022-2029”.
The folding carton is used for packaging of ready-to-eat food items which are packaged using a paperboard, plastic, or biopolymer. There has been an increasing demand for folding cartons from several electrical and electronics industries across the world owing to the constant advancements in the packaging and printing technologies of the folding carton material. Thus, this is an important factor driving the growth of this market.
However, the continuous change in the price of wood pulp is projected to hamper the growth of this market.
The COVID-19 pandemic has had a huge impact on the chemicals and materials industries worldwide. This pandemic has disrupted the supply chains in the chemicals industry which has resulted in huge loss of business, thus, affecting the demand for folding cartons across several regions of this market.
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On the basis of type, this market is divided into biopolymer, paper and paperboard, plastics, and others. By end-use industry, the market is classified into food and beverages, personal care, healthcare, tobacco, hardware and electrical, and others. Based on geography, the market is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The report incorporates actionable insights into the regional prospects of the market and provides a comprehensive analysis of the market drivers and challenges. Further, the report also contains detailed bifurcation of key market players and careful study of their strategies and offers a granular evaluation of the different market segments.
Increasing Demand for Convenient Packaged Food Products to Fuel the Market
In recent years, the folding carton has gained prominence across various end-user industries such as electrical, food and beverages, and others due to the rising demand for folding cartons in packaging of the food products with the help of recyclable and eco-friendly packaged material. Thus, there is a high demand for convenient packaged food products across several regions, which is anticipated to bolster the growth of this market.
Increasing Demand for Ready-to-Eat Foods to Boost the Asia Pacific Market Growth
Asia Pacific region is projected to dominate the folding carton market share on account of the rising demand for ready-to-eat food items in the countries such as India and China.
North America region is anticipated to grow rapidly in this market due to the increasing demand for online grocery shopping in the countries such as the US and Canada.
List of Key Players Covered in the Folding Carton Market Report:
- Smurfit Kappa Group PLC,
- WestRock Company,
- Graphic Packaging International LLC,
- Mayr-Melnhof Karton AG,
- Seaboard Folding Box,
- Quad Graphics Inc.
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