The Folding Cartons Market was at USD 128.28 billion in the year 2020 and it is expected to surpass the market value of over USD 1,34,801.20 million by the year 2030 while registering a CAGR of 4.70% during the forecast 2021-2030.
The folding cartons are considered as the key process in the packaging business, as the packaging industry starts with folding the cartons and then they are sent to the lamination, and then they are cut and folded and glued according to the application. The folding carton packaging solution is considered the most economical option for packaging and due to its ability to produce in many sizes, they cater to a wide range of applications. The growth in the folding carton industry is highly influenced by the increasing demand for frozen or chilled food, cigarettes, and dry food across the globe. The established packaging industries are increasingly investing in recyclable folding cartons to eliminate environmental concerns.
The increasing number of trends and innovations in the packaging industry aligning to the demand for sustainability in the packaging is considered as the major driver for the folding cartons industry. With the stress on the packaging industry to eliminate the usage of plastics and paperboards, paper cartons are gaining momentum among the packaging industries. Also the established market players such as Paperworks, Elopak are coming with novel innovations such as coated recycled board and natural brown board cartons that are 100% carbon neutral.
COVID 19 Analysis:
The COVID pandemic has led to major disruption of the supply chain and demand across the industrial sectors. Also, the accessibility to the raw materials required for the manufacturing industries has been reduced, the reduced labor and other issues have caused significant disruption in the key business processes of the industrial sector. Such factors have reduced the demand for consumer goods and electronics. The increasing case of emergencies across the globe has reduced the demand for several products and services. Such factors have reduced the necessity for them to be packed and shipped. Therefore the overall growth of folding cartons industries was significantly reduced.
However, the demand for medical supplies and food was increasing during the pandemic has propelled the overall growth of the folding cartons industry. The transporting and packaging industries were operating only for the essential things and services and have created some positive impact on the folding cartons market growth during the pandemic.
The increasing preferences for bio gradable packaging and the increased values for the products that are packed in the biodegradable packaging are driving the folding cartons market growth. Moreover, the potential benefits of the folding cartons such as sustainability and availability of these folding cartons have propelled potential end-user applications to utilize the folding cartons, which are increasing the overall growth of the folding cartons industry.
The demand for lightweight cartons and the ones made of paperboards are gaining momentum in recent times to cut down on the shipment. Also, the rising environmental concerns across the globe are considered as the major drivers of folding cartons market growth.
The manufacturers are intensively working and providing varied designs according to the demand of the end-user applications. Also, the manufacturers in the packaging industries are inclined towards producing packaging materials that offer excellent printability and rigidity, to integrate advanced tracking technologies such as RFID and others. As the folding cartons are excellent carriers of these tracking solutions, the growth of the folding cartons market growth is expected to have healthy growth during the forecast period.
The advancements in the folding cartons industry that brings in varied favorable qualities while providing enhanced aesthetic value and protection at affordable price point are presenting lucrative opportunities for the overall growth of the folding cartons industry. Moreover, the increasing demand for the e-commerce industry and subscription plans are also propelling the overall growth of the folding cartons industry.
The fluctuation in the price of the wood pulp and other raw materials required for the manufacturing of the folding cartons are considered as the major restraints of the folding cartons market growth.
The manufacturing facilities are facing challenges due to unexpected orders and frequent variations in the box quantity. The installation of the packaging equipment and the other key challenges are considered as the major restraints of folding cartons market growth.
The challenges in the paper industry impact the overall growth of the folding cartons market growth. Paper is the crucial raw material for the production of folding cartons and thereby the decline in the production in the paper industry affects the folding carton market growth.
Shortages and poor infrastructure in developing countries are also considered as the major challenge for the overall growth of the folding carton industry.
Cumulative growth analysis:
The market size of the folding cartons industry was at USD 128.28 billion in the year 2020 and it is expected to surpass the market value of over USD 1,34,801.20 million by the year 2030 while registering a CAGR of 4.70% during the forecast 2021-2030. The growth estimate is primarily due to the potential benefits of the folding cartons such as excellent printability, rigidity, flexibility, and significant others. Moreover, the enhanced adaptability of these folding cartons helps several end-user industries to change the size and design according to their application. Also, several countries are imposing bans on the usage of single plastic usage in the packaging industries. Such factors have increased the folding carton market demand.
The advent of advanced tracking solutions in the packaging industries such as RFID, Embedded barcode, and others can be integrated with the folding cartons due to their excellent printability and rigidity. Therefore the several industries are increasingly adopting folding cartons.
Value chain analysis:
The growth of the folding cartons industry is highly influenced by the food industry as they are considered the major consumers of folding cartons. For several applications, the scrap papers are utilized and reprocessed, however for the food packaging; the higher grade and lighter strong sulfate board which are covered with plastic are acquired. The primary reason for the food industry to utilize the folding cartons for packaging is due to the better preservation of food and the life expectancy of the food is longer.
Other beneficiary factors such as environmentally responsible packaging, cost-effectiveness, and adaptability are driving the folding cartons' market growth. Therefore the folding cartons are intensively used in consumer packaging, retails, and transporting medical and industrial products. Among other parts of the world, North America and Europe are considered as the leading consumers of folding cartons for the food industry. Also, several manufacturers are developing cardboards with specific grades with barrier coatings that are more suitable for food items. The coating processes in the packaging industries are crucial as they significantly reduce the overall material consumption.
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North America is currently holding the largest market share regarding the folding cartons industry, as the region is growing in demand for environmentally friendly packaging materials and increasingly adopting advanced technologies.
On the other hand, the Asia-pacific region is also witnessing healthy growth in the folding cartons industry, among which China is considered as the major consumer of packaged goods because of the convenience and aesthetical value. Additionally, the consumers of China are more inclined towards packaged foods which are driving the overall growth of the folding cartons industry. Moreover, the affordable manufacturing costs across China are also presenting lucrative opportunities for folding cartons market growth. Moreover, the increasing demand for the convenient food and packaging industries and the products are driving the overall growth of the folding cartons market growth.
The Asia-pacific region is considered as the major manufacturer of electronics and electrical equipment which also stimulates the growth of the folding carton industry. Moreover, the government organizations in the region have banned the usage of single-use plastic packaging, such factors have increased the utilization of sustainable packaging.
In the year 2018, one of the leading market players, Paperworks Inc., has launched coated recycled board CRB folding carton alternative that caters to household products, healthcare marketers, and several other applications that are inclined towards the recyclable content.
In the year 2018, one of the leading market players, Smurfit Kappa has introduced a multi-purpose paper that is suitable for digital and flexographic printers.
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|Market Size||USD 1,34,801.20 million|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Wall Construction, and End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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)|
|Key Market Opportunities||New product launches and R&D amongst major key players|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
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• Food and Beverages • Personal Care • Healthcare • Household • Hardware & Electrical • Others
• Sonoco Products Company • Graphic Packaging Holding Company • Amcor Limited • Schur Pack Germany GmbH • Multi Packaging Solutions Inc. • Rengo Co. Ltd.,
The market size of the folding cartons industry was at USD 128.28 billion in the year 2020 and it is expected to surpass the market value of over USD 1,34,801.20 million by the year 2030 while registering a CAGR of 4.70% during the forecast 2030.