A folding carton is a rectangular packaging container utilized for various products. It is constructed from paperboard, which offers both cost-effectiveness and sustainability, making it a favored choice among industries. Folding cartons come in a wide range of colors, sizes, and designs, and they can be customized to meet specific customer requirements. These cartons are commonly employed for packaging products during storage and shipment, providing a reliable and versatile solution for packaging needs.
According to Data Bridge Market Research, the Folding Cartons Market accounted for USD 165.03 billion in 2022, and expected to reach USD 257.15 billion by 2030. The market is expected to grow with a CAGR of 5.70 % in the forecast period of 2023 to 2030.
“Increasing usage of folding cartons in the tobacco industry”
The utilization of folding cartons in tobacco packaging is experiencing a notable rise due to its convenience and ability to showcase various prints, creating substantial prospects within the market. Despite strict bans and taxation, the tobacco industry continues to gain traction, primarily driven by the increasing demand from the millennial population. Consequently, the tobacco industry's growth is expected to generate significant demand for folding cartons in the foreseeable future.
What restraints the growth of the folding cartons market?
“Fluctuating prices of raw materials”
The growth of the folding cartons market may be adversely affected by the fluctuating prices of raw materials, particularly wood pulp, due to the demand-supply gap. This situation can result in a considerable decline in manufacturers' profit margins within the folding cartons market, potentially impeding its growth during the forecast period. The price volatility of raw materials poses a significant challenge, which may hinder the overall market expansion in the coming years.
Segmentation: Global Folding Cartons Market
The folding cartons s market is segmented on the basis of structure type, wall structure, material type, dimension type, order type, and end user.
- On the basis of structure type, the folding cartons market is segmented into straight tuck end, reverse tuck end, tuck top auto-bottom, tuck top snap-lock bottom, full seal end, double glued sidewall, others.
- On the basis of wall structure, the folding cartons market is segmented into single-wall corrugated sheet, double-wall corrugated packaging, and triple-wall corrugated packaging.
- On the basis of material type, the folding cartons market is segmented into biopolymer, paper and paperboard, plastics, others.
- On the basis of dimension type, the folding cartons market is segmented into less than 4 X 1.5 X 6 (Inch), 4 X 1.5 X 6 to 6 X 4 X 10 (Inch), 6 X 4 X 10 to 10 X 6 X 12 (Inch), 10 X 6 X 12 to 12 X 8 X 14 (Inch), more than 12 X 8 X14 (Inch).
- On the basis of order type, the folding cartons market is segmented into customized, standard.
- On the basis of end user, the folding cartons market is segmented into food, beverage, cosmetic and personal care, institutional, healthcare, household, and electrical and electronic, e-commerce, tobacco, others
Regional Insights: Asia Pacific dominates the Folding Cartons Market
Asia Pacific dominates the market due to the bakery and confectionery market in this region is experiencing growth and expansion, driving the demand for packaging solutions like folding cartons. Additionally, the rapid expansion of modern retail outlets in the region is expected to contribute to the market's growth by creating increased opportunities for packaging solutions.
North America is expected to be the fastest developing region during the forecast period of 2023-2030 due to the rising demand for packaging solutions in the food and beverage industry. Additionally, the rapid expansion of modern retail outlets in the region is expected to further drive market growth by creating more opportunities for folding cartons.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-folding-cartons-market
Recent Developments
- In 2022, WestRock announced its partnership with Recipe Unlimited. With this partnership, they will launch a range of paperboard packaging that can be recycled. The main goal of this partnership is to prevent around thirty-one million plastic containers from ending up in landfills in Canada.
- In 2021, A.R. Packaging announced its merger with Firstan Limited to reinforce its position in the United Kingdom. With this merger, A.R. Packaging will contribute to U.K. medical and food services clients by developing nearby collapsing container creation, with a production line in Cambridgeshire, Godmanchester. First Limited manufactures folding cartons that offer cartons for food and drug areas, amongst others.
The Prominent Key Players Operating in the Folding Cartons Market Include:
- WestRock Company (Ireland)
- Georgia-Pacific (U.S.)
- International Paper (U.S.)
- Amcor plc (Switzerland)
- Sonoco Products Company (U.S.)
- DS Smith (U.K.)
- Huhtamaki (Finland)
- Mondi (U.K.)
- Smurfit Kappa (U.S.)
- Rengo Co. Ltd (Japan)
- Graphic Packaging International LLC (U.S.)
- Oji Holdings Corporation (Japan)
- Stora Enso (Finland)
- Mayr-Melnhof Karton AG (Austria)
- Pactiv Evergreen Inc. (U.S.)
- Keystone Paper & Box Company, Inc (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of folding cartons market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Folding Cartons Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
