London, April 01, 2022 (GLOBE NEWSWIRE) -- The global folding cartons market size was valued at US$ 140.42 billion in 2021. The growing concerns over the negative environmental impact due to the increased use of the plastic packaging have shifted the focus towards the adoption of the eco-friendly packaging solutions. The rising awareness regarding the negative effects of plastic on the environment is fueling the demand for the folding cartons which serves as a biodegradable and sustainable packaging solution. Plastics are the major cause of marine pollution across the globe.
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Moreover, the government ban on the use of the single-use plastics has significantly contributed towards the growth of the folding cartons market. The rising usage of the folding cartons across various end use industries such as food & beverages, cosmetics, personal care, household, and electronics is further fueling the demand for the folding cartons across the globe. The low cost, light weight, and improved printability are of the major traits of the folding cartons that has exponentially boosted its adoption across various industries. The outbreak of the COVID-19 pandemic in 2020 has boosted the growth of the e-commerce, which in turn has boosted the growth of the folding cartons market.
Scope of the Folding Cartons Market
| Report Scope | Details | |
| Market Size in 2021 | USD 140.42 Billion | |
| Growth Rate from 2022 to 2030 | CAGR of 3.80% | |
| Food & Beverage Market Share in 2020 | 36% | |
| Base Year | 2021 | |
| Forecast Data | 2022 to 2030 | |
| Companies Covered | Westrock Company, Sonoco Products Company, Huhtamaki Oyj, KapStone Paper and Packaging Corp, AR Packaging Group AB, Mayr-MelnhofKarton AG, Stora Enso Oyj, Georgia-Pacific LLC, Rengo Co., Ltd., Oji Holdings Corporation | |
Report Highlights
- Based on the end use, the food & beverages segment dominated the global folding cartons market in 2020. This is attributed to the increased demand for the packaged food products across the globe. The changing lifestyle of the consumers, rising disposable income, and rising penetration of the ready-to-eat food products is a major factor that has boosted the growth of the food & beverages segment.
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Regional Snapshot
Asia Pacific was the leading folding cartons market in 2020. Asia Pacific is witnessing rapid industrialization and surging FDIs owing to the favorable government policies, which is creating the Asia Pacific region a manufacturing hub of the globe. The presence of huge industries and the presence of huge consumer base is fueling the demand for the folding cartons for the packaging of various products across different industries. The rising demand for the online shopping is significantly contributing towards the growth of the Asia Pacific folding cartons market. The rising demand for the ready-to-eat, convenient, and packaged food products is the major driver of the folding cartons market in this region.
Middle East and Africa is estimated to be the most opportunistic market. This is attributed to the surging penetration of the e-commerce, rising disposable income, changing lifestyle of the consumers, and growing demand for the packaged food products in the region. The surging growth of the population and rapidly developing industrial sector in this region is expected to drive the growth of the folding cartons market in this region in the forthcoming future.
Market Dynamics
Driver
Surging penetration of e-commerce
The globe is witnessing a rapid penetration of internet and rising adoption of smart device, owing to the developing IT and telecommunications infrastructure. The rapidly growing users of internet across the globe is significantly driving the growth of the e-commerce sector. The demand for the folding cartons in the e-commerce industry is rapidly growing owing to the need for transporting products from one place to another. Therefore, the surging penetration of the e-commerce across the globe is expected to drive the growth of the global folding cartons market during the forecast period.
Restraint
Tough competition from plastic packaging
The huge availability of the plastic packaging is the major restraint. The flexible plastic packaging is cheaper and durable than the folding cartons. Moreover, the development of biodegradable plastics is giving a tough competition to the folding cartons. The availability of the more durable and cheap alternative may hinder the growth of the folding cartons market during the forecast period.
Opportunity
The folding cartons have high printability. This feature offers the adoption of the anti-counterfeit technology such as RFID and embedded codes on the folding cartons. This will help in tracking the packaged goods and the safety and security of the original products can be ensured. The introduction of the anti-counterfeit technology associated with the folding cartons is expected to provide growth opportunities in the forthcoming future.
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Challenge
Increased penetration of the plastics in the underdeveloped and developing countries
There is a huge penetration of the plastic packaging in the underdeveloped economies owing to its low cost and extended durability. Moreover, the lack of proper regulations regarding the use of plastics in several countries is a major challenge that restricts the adoption of the folding cartons.
Market Segmentation
By Material Type
- Solid Unbleached Board
- Whitelined Chip Board
- Folding Box Board
- Solid Bleached Board
By Structure Type
- Straight Tuck End
- Reverse Tuck End
- Tuck Top Auto-Bottom
- Tuck Top Snap-Lock Bottom
- Full Seal End Cartons
- Double Glued Sidewall
- Others
By End Use
- Household
- Food & Beverages
- Frozen Food
- Fresh Food
- Bakery and Confectionary
- Ready to Eat Meal
- Baby Food
- Pet Food
- Other Food
- Beverage
- Electrical & electronics
- Healthcare
- Personal Care & Cosmetics
- Others
By Order Type
- Standard
- Customized
By Wall Construction
- Single-Wall Corrugated Sheet
- Double-Wall Corrugated Packaging
- Triple-Wall Corrugated Packaging
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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