Global Folding Cartons Market information By Wall Construction (single-wall corrugated sheet, Double-wall corrugated packaging, Triple-wall corrugated packaging, By End-User (Healthcare, Household, Personal care and others) and Region – Forecast To 2023
Folding cartons, also known as box boards, are built out of paperboard and goes through stages of cutting, folding, and lamination. It is used for the packaging of lightweight products and designed according to the shape of products for attracting customer attention. The global folding cartons market report by Market Research Future (MRFR) contains an unbiased view of the market replete with drivers, challenges, trends, and opportunities for the period of 2017 to 2023 (forecast period). The COVID-19 outbreak and its implications for the industry are taken into account for the forecast period.
The global folding cartons market is expected to expand at a healthy growth rate of 3.02% owing to rapid procurement of goods and the access to online stores. Increased demand for convenience foods from consumers around the globe and organized retailing has resulted in higher demand for folding cartons. Food vendors are under pressure to offer products with a longer shelf life and attractive packaging to gain customer attention. The use of folding cartons for displaying individual products and cause a surge in sales can favor the market growth.
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Huge demand for food products, rise in the global population, and a surge in disposable income levels can drive the global market demand till 2023. In addition, favorable demographics, rising demand for processed foods, and shift to retail level packaging can bode well for the market. Other innovations expected to lend an aid to market demand are integration of Fresnel lenses, holographic images, and QR codes. This can support the trend of smart packaging and create brand awareness among consumers.
Amcor Limited, Graphic Packaging Holding Company, Huhtamaki Oyi, Schur Pack Germany GmbH, Georgia-Pacific LLC, Sonoco Products Company, Multi Packaging Solutions Inc., Westrock Company, Rengo Co. Ltd., and KapStone Paper and Packaging Corp. are key players of the global folding cartons market. Players in the market are embracing new technologies to cater to client requests for product integrity and quality. Recently, Keystone Folding Box Company integrated a new die cutting and gluing equipment to its facility to increase the capacity of vial packaging.
The global folding cartons market is segmented by wall construction and end-user.
By wall construction, it is segmented into single-wall corrugated sheet, double-wall corrugated sheet, and triple-wall corrugated sheet.
By end-user, it is segmented into personal care, household, and others.
In terms of geography, Asia Pacific (APAC) accounted for a major market share and will continue to dominate the global folding cartons market in the forecast period. The increase in the revenue share of this segment is attributed to the augmented demand for convenient packaged food products from consumers in the region. Also, developments in organized retailing in various countries in region and emergence of various urban areas are expected to contribute to the growth of the market in the future.
Europe has assumed the second spot in the global folding cartons market owing to a surge in online shopping and preference for medicines and foods from online stores. Rise in recycling of folding cartons will positively impact the market.
North America can capture a relevant share of the global market, with major contribution from the U.S. Expansion of sectors such as electrical & electronic, healthcare, and food & beverages are likely to impact the market demand till 2023. Strict regulations pertaining to quality, flexibility in packaging of drugs, and client demand for healthcare products can spur the demand for folding cartons.
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TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.2 RESEARCH OBJECTIVE
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1 PORTER’S FIVE FORCES ANALYSIS
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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