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.
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.
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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.