Folding carton: Key market research findings
- Need for sustainability and technological innovation
- Focus towards enhancing aesthetic appeal of products for marketing purposes
Technavio has released a new market research report on the global folding carton market, which is expected to grow at a CAGR of 4% between 2016 and 2020. Growing demand for packaged foods products has accelerated the demand for folding cartons. Packaged food and beverage companies are demanding an increased variety of folding cartons with unique designs that meet the increased production requirements and help create product differentiation. APAC dominates the global folding carton market, accounting for 46% of the total market share. China and Japan are the major revenue contributors to the market in this region, owing to the introduction of latest technologies for manufacturing folding cartons in the region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“One of the latest trends gaining prominence in this market is the use of sustainable or eco-friendly folding cartons for packaging of products. Manufacturers prefer using eco-friendly packaging material as it promotes environmental sustainability, and can be recycled up to seven times. Several vendors have started focusing on the production of 100% recyclable folding cartons made of recyclable fibers. For instance, Dura Fiber has recently launched EcoEarth, which is 100% recyclable and is developed to offer durability, sustainability, and printability,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research
Aesthetic appeal in the packaging of products leads to successful promotional campaigns as it tends to attract more customers. This has pushed several folding carton manufacturers to enhance the physical appearance of packages and provide customized solutions to their customers. Many large vendors, such as WestRock and Cascades, are offering highly attractive and appealing packaging products to end-users. They are adding new graphic designs to add cosmetic value to products especially consumer goods.
The key players in the global folding carton market include Graphic Packaging International, Mayr-Melnhof Karton, WestRock, Smurfit Kappa, Bell Incorporated and All Packaging Company. The market is highly competitive and fragmented with the presence of several vendors offering various segments of folding cartons, such as gable top, aseptic carton products. Vendors in the market compete with large and small vertically integrated paperboard and folding carton companies and numerous smaller non-integrated companies. Competition in this market is expected to intensify during the forecast period, in terms of product price, design, product innovation, product line, and quality and service.
A more detailed analysis is available in the Technavio report, Global Folding Carton Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
