MARKET ANALYSIS
Folding cartons are boxes or box sleeves made of single-ply paperboard or corrugated cardboard. They are produced using a special machine that cuts, glues, creases, and scores the box material to produce the desired size and shape. Folding cartons are one of the most popular types of product packaging and are used to ship different types of products. They are used for packaging of foods, cosmetics, electronics, and other products.
GROWTH DRIVERS AND CHALLENGES
The strong growth of the packaging industry is mainly driving the use of folding cartons from the food & beverage, consumer goods, and healthcare industry. Folding cartons are highly used for the packaging of foods, cosmetics, consumer electronics products, and many others. The consumer preference for packaged food products is increasing across the globe. This is creating demand for food packaging materials keeping food products fresh for a more extended period. The growing demand for packaged food products in various countries worldwide is contributing to higher growth in the global packaging industry. Therefore, constant growth in the packaging industry is driving the demand for folding cartons. Further, along with women, there is a growth in the use of different cosmetic products among men in their daily routines. Moreover, cosmetic product manufacturers are focusing on product branding, advertising, and new product launch strategies to increase the sales of cosmetics products. Thus, the factors mentioned above are contributing to the strong growth of the cosmetics industry, driving the demand for folding cartons. However, the volatility in wood pulp prices is expected to hinder the folding cartons market growth. Wood pulp prices fluctuate due to various factors, such as the demand and supply gap, energy prices, transportation challenges, and many other factors.
REPORT SEGMENTATION AND SCOPE
The "Global Folding Cartons Market Analysis to 2030" is a specialized and in-depth study with a major focus on the global folding cartons market trends and growth opportunities. The report aims to provide an overview of the global folding cartons market with detailed market segmentation by material type, end use, and geography. The global folding cartons market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of folding cartons worldwide along with their demand in major regions and countries. In addition, the report provides a qualitative assessment of various factors affecting the folding cartons market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the folding cartons market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative folding cartons market opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global folding cartons market, which helps understand the entire supply chain and various factors affecting the market growth.
SEGMENTAL ANALYSIS
The global folding cartons market is segmented on the basis of material type and end use. Based on material type, the folding cartons market is segmented into solid unbleached sulfate/coated solid unbleached kraft, solid bleached sulfate / bleached kraft, recycled paperboard / coated recycled board, and others. On the basis of end use, the market is classified as food and beverages, consumer goods, healthcare, tobacco, and others.
Based on material type, the recycled paperboard / coated recycled board segment accounted for a significant folding cartons market share which can be attributed to increasing their use in the packaging of food, cosmetic and personal care products, home care products, and many other products. Recyclability is becoming an important factor in making different packaging products. Manufacturers also focus on developing folding cartons from recycled paperboard / coated recycled board. Based on end use, the food and beverages segment accounted for a significant folding cartons market share due to the increasing use of folding cartons in packaging different salads, sandwiches, burgers, and other types of snack and finger foods. There is also an increasing use of folding cartons in fast-food restaurants. Moreover, the strong growth of the online food delivery sector is also positively impacting the demand for folding cartons.
REGIONAL ANALYSIS
The report provides a detailed overview of the global folding cartons market with respect to five major regions, namely; North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South & Central America. Asia Pacific is estimated to account for a significant folding cartons market share globally. The strong growth of the food & beverage and personal care industries in China, Japan, South Korea, and India is driving the growth of the folding cartons market in the Asia Pacific. In India, the food & beverage industry is growing due to the high demand for packaged, healthy, and immunity booster food products and the strong growth of the online food ordering business. Moreover, in Asia Pacific, improving socio-economic standards and large-scale development of digital and manufacturing sectors are resulting in an increasing demand for cosmetic products. The cosmetics and personal care industry is growing faster, with more and more people in the region buying personal care and beauty products. Hence, the strong growth of the cosmetic industry in different countries from the region is providing more opportunities for the folding cartons market growth.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnership, acquisitions, and new product launches were found to be the major strategies adopted by the players operating in the global folding cartons market.
- In April 2023, German pharmaceutical and healthcare packaging producer August Faller announced a plan to expand its folding carton production in Denmark by adding a new plant in Horsens.
- In September 2021, Cerm, a global software supplier for the label and packaging market, extended its MIS with a complete and scalable end-to-end option for converters in the folding carton and rigid boxes space.
IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
The covid-19 pandemic led to a decline in the progress of many industries across the globe. The shutdown of manufacturing plants and restricted trade across the globe led to supply chain constraints for manufacturers across the globe. The folding cartons market experienced a slump during the pandemic owing to the limited trade of folding cartons across the globe. Moreover, food & beverage, personal care, home care products, and consumer goods industries also declined during this period owing to the shortage of raw materials and limited labor supply. Reduced production of food & beverages, personal care products, and home care products declined the demand for folding cartons. On the other hand, increased demand for different healthcare products during the pandemic has driven the market for folding cartons.
However, in countries, various industries have resumed their business operations. Increased production of food & beverages, consumer goods, and healthcare products has driven the demand for folding cartons in 2021. The folding cartons market has recovered quite well from the aftermath of the pandemic and is expected to grow over the coming years.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the folding cartons market include WestRock Company; Graphic Packaging International, LLC; Mayr-Melnhof Packaging; Smurfit Kappa; Seaboard Folding Box Company, Inc.; Bell Incorporated; Huhtamaki; Sonoco Products Company; Stora Enso; Rengo Co., Ltd.; Georgia- Pacific LLC; International Paper Co.; Bell Incorporated; Greif Inc.; Imperial Printing and paper box Mfg. Co.; among others.