Folding Carton Market is valued at USD 61.03 Billion in 2021 and is expected to reach USD 79.62 Billion by 2028 with a CAGR of 3.87% over the forecast period.
Folding Carton Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Growing demand for packaged food products, increasing popularity of smart folding cartons and rising spending on recyclable folding cartons are some of the major factors driving the growth of Global Folding Carton Market.
Folding cartons are the important part of the packaging business. The process includes a progression of steps beginning from folding carton made of paperboard that is printed then laminated & then cut and folded. Toward the finish of the methodology, it is glued appropriately. For the majority of the packages, pulp from reprocesses scrap paper is utilized. The folding carton for food packaging is produced using higher grade and lighter strong sulfate board with plastic covering. There are a few constraints to cut apparatus and subsequently the thickness of the board is restricted. The folding cartons are restricted in their holding limit. They are simply ready to hold a couple of pounds or kilograms of material. Folding cartons allowed for low-cost packaging for products to be placed in a visually appealing carton, with each carton serving as its own marketing. The goods were also better preserved, and the contents lasted longer. Throughout the twentieth century, this tendency was to continue apace, with more manufacturers latching on to this innovative method.
Today, an increasing number of organizations are opting for environmentally responsible solutions. Folding carton boxes are one of the most prevalent types of consumer packaging on the market. They are both cost-effective and extremely adaptable. These may also be utilized in retail, and are particularly helpful for showcasing items in order to increase client purchases. During the 1880s, a man called Charles Henry Foyle in Birbingham, England, devised a paper-based packaging method that resulted in the first ever folding carton.
The increasing number of COVID-19 cases prompted the closure of a number of manufacturing units, involving the manufacturing plants of folding cartons. Also, the interruptions in the supply chain network brought about by the pandemic restricted the accessibility of raw materials and labor force on the market. However, the rising demand from the medical care and food and refreshments industries for transporting and packaging a broad range of items have shown some positive impact on the market.
Global folding carton market is segmented on the basis of type, end-user and region & country level. Based upon type, the global folding carton market is classified into biopolymer, paper and paperboard, plastic, others. Based upon end-user, the market is classified into food and beverages, personal care, healthcare, household, hardware & electrical and others.
Some major key players for global folding carton market report cover prominent players like Huhtamaki Oyi, Westrock Company, PaperWorks, Georgia-Pacific LLC, KapStone Paper and Packaging Corp., Sonoco Products Company, Graphic Packaging Holding Company, Amcor Limited, Schur Pack Germany GmbH, Multi Packaging Solutions Inc., Rengo Co. Ltd., and others.
On January 19th, 2021; AR Packaging announced its merger of Firstan Holdings, with the Firstan Limited auxiliary, as it hopes to reinforce its position in the UK. The arrangement is said to expand AR's contribution to UK food and medical services clients through the expansion of nearby collapsing container creation. With a production line in Godmanchester, Cambridgeshire, Firstan Limited is a producer of folding cartons which providing the food and drug areas, amongst others.
One of the major factors driving the growth of global folding carton market is growing demand for packaged food products. Folding cartons is the item utilized for frozen/chilled food varieties, dry food varieties, and cigarettes. Containers and packaging are utilized in the delivery, protection and storage of items. They likewise give marketing and sales benefits. For example, according to the Environmental Protection Agency (EPA) characterizes packaging and containers as items that are thought to be disposed of that very year the items they contain are purchased. Packaging and containers make up a significant piece of municipal solid waste (MSW), adding up to 82.2 million tons of age in 2018.
In addition, increasing popularity of smart folding cartons is also fostering the market growth. The demand for smart folding cartons is increasing due to the rise in the requirement for modern packaging in applications like clinical monitoring and progresses in the printed electronics innovation leading to the advancement in smart packaging. Also, smart folding cartons offers the benefit of empowering merchants to track the package all through the delivery cycle, as they give customers with item data utilizing QR codes or component individualized design and messages for clients. A few advancements like QR codes, RFID, NFC, and inserted scanner tags will help in acquiring client trust through further developed client experiences. Furthermore, rising spending on recyclable folding cartons is also supplementing the growth of global folding carton market. Manufacturers are investing on recyclable folding cartons to convey eco-friendly administrations and in this way focus on a wide range of clients.
However, changeable prices of wood pulp may hamper the global folding carton market growth. In spite of that, continuous advancements in the field of printing technology can provide various opportunities for the further growth of the global folding carton market.
North America is expected to dominate the global folding carton Industry within the forecast period due to the increasing use of environmentally friendly packaging materials, rising demand of F&B and homecare products, growing technological advancement and presence of key players in this region. For instance; in 2018, WestRock Company procured KapStone Paper and Packaging Corporation. The exchange is relied upon to fundamentally improve WestRock's scale and extension on the lookout, speed up its capacity to accomplish key objectives, and upgrade its incentive as the chief partner and supplier of innovative, winning answers for its clients.
Asia Pacific is anticipated to grow at a faster rate in the global folding carton market due to the increasing demand for convenience packaged food, rising use of eco-friendly packaging, rising population and expanding urbanization in this region. For example; For instance, in April 2017, PaperWorks presented coated recycled board (CRB) folding carton option empowering household item and medical services advertisers' admittance to 100% reused content.
By Regional Analysis
Middle East and Africa
|2018 - 2021
|2022 - 2028
|Market Size in 2021:
|USD 61.03 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 79.62 Billion
|Tables, Charts & Figures:
|Folding Carton Market Key Players
|Huhtamaki Oyi, Westrock Company, PaperWorks, Georgia-Pacific LLC, KapStone Paper and Packaging Corp., Sonoco Products Company, Graphic Packaging Holding Company, Amcor Limited, Schur Pack Germany GmbH, Multi Packaging Solutions Inc., Rengo Co. Ltd., and others.
|By Type, By End-User
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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