The global folding cartons market is prophesied in a report by Transparency Market Research (TMR) finds highly competitive owing to presence of several vendors. Owing to these intense competition, they are offering products with better design, prices, product innovation, and quality. Growing competition among global and regional players are expected to intensify in the upcoming years. Some of the key players operating in the folding cartons market includes Westrock Company, Amcor Limited, Huhtamaki Oyi, Sonoco Products Company, KapStone Paper and Packaging Corp., Georgia-Pacific LLC, AR Packaging Group AB, Mayr-Melnhof Karton AG, Rengo Co. Ltd., and Stora Enso Oyi.
TMR predicts, the global folding cartons market to grow at a CAGR of 4.7% over the forecast period of 2017 to 2025. In terms of value, in 2017, the global market for folding cartons was estimated at US$57,692.1 mn. In terms of volume, the market is expected to consume 29,036,000 tonnes by the end of 2025.
High Adoption from Food and Beverage Industry to be Beneficial for the Market
Folding cartons are made out of laminated, printed paperboard that are folded and glued for making cartons to transport. The material is higher grade and light weight with solid sulfate board. Changing lifestyle and eating habits are bolstering growth of packaged food industry. Owing to these factors, adoption of the cartons across food industry for packing purposes is increasing. This factor is primarily driving growth of the market.
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Manufacturing industries are increasingly focusing to develop advance products, they are highly investing in the research and development activities. The advancements such as supporting to multiple printers, leads to print on QR codes, holographic images, and 3D devices. These advancements makes them smart packaging owing to them the food and packaging is adopting the cartons. These factors are propelling growth of the global folding cartons market for forecast period. However, availability of substitutes and low strength of folding cartons are crimping the growth of the global folding cartons market.
