The global packaging industry is expected to grow during the forecast period because of its wide applications in industries like healthcare, food, drinks, cosmetics and consumer as well as industrial good industries. Chipboard folding cartons are used to provide attractive and unique packaging to the goods and also helps in protecting them from getting sagged.
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Market Overview:
Chipboard folding cartons market is expected to grow at a high CAGR in the forecast period. Chipboard folding cartons are made up of paperboard and are used to protect a wide variety of consumer products which also provides safe transport and are also used to market goods to consumers. North America has the largest chipboard folding cartons market and is expected to grow because of the growing disposable income.
Market Dynamics:
The demand of chipboard folding cartons market is set to increase in the developing regions because of higher production and consumption in cosmetics, healthcare, food and beverages and other industries. The driving force for the folding cartons market is the demand for innovative packaging with great design and eco-friendly packaging so that its disposal will not be a problem. Other driving force for the chipboard folding cartons market is the increasing disposable income in the developing countries resulting in increasing the demand for well-packed products. Food and beverage companies are demanding for a variety of packaging products which helps in providing good quality products and product differentiation.
The most important factor in growing the demand for chipboard folding cartons market is the increasing number of mergers and acquisitions which help small companies to grow and the chipboard folding cartons market is expected to have a positive outlook in future.
The biggest restraint of the chipboard folding carton market is the presence of several vendors which provide cheap alternatives and better packaging products resulting in increasing the competition among chipboard folding cartons manufacturers.
Market Segmentation:
The chipboard folding cartons market is segmented on the basis of the structure, by type of products, by applications, and region.
On the basis of structure, the chipboard folding cartons market is segmented into a Standard Straight Tuck, French Reverse Tuck, Airplane Style Straight, Mailer Lock, Tuck and Tongue, Rectangular Sleeve and Bellow Tuck.
On the basis of the type of products, the chipboard folding cartons market is divided into paperboard, and green folding cartons.
On the basis of the applications, the chipboard folding cartons market is segmented into food products, tobacco, household care, health care, personal care, and others.
On the basis of geographies, the chipboard folding cartons market is segmented across 7 key regions; Latin America, North America, Japan, Asia Pacific excluding Japan, Western Europe, Eastern Europe and Japan. North America has the largest market shares in chipboard folding cartons market because of the rising healthcare industry. Europe and Latin America also have a significant share in the chipboard folding carton market because of the upcoming personal care and confectionery industry. The Middle East and African countries are at the initial stages of growth, and the chipboard folding cartons market is expected to grow at a high CAGR in the forecast period, in these countries.
Market Key Players:
Few of the major key players active in the chipboard folding cartons market includes packaging suppliers, Ameripak, Riverside Paper Co, Carton service, Brown Packaging, peek packaging solutions, Mankato packaging, packaging consultants Inc, WestRock, All Packaging Company, Mayr-Melnhof Karton, Bell, Graphic Packaging, and others
Chipboard folding cartons market is expected to grow in future because of a number of opportunities it creates by designing innovative packaging products for the consumers and industries.
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