Folding Cartons Market Shares, Strategies, and Forecasts 2016 to 2024
Folding cartons are used for packing materials of different sizes and shapes, and can be said to be the pioneers in the packaging industry. Folding cartons are available in the form of paperboard with creasing, and are folded, cut, printed, and laminated to achieve a particular structure as per the packing requirements of the material. These cartons can be made from recycled paper stock, virgin wood pulp, or other fibres. These folding cartons find application in the field of food and beverages, cosmetics, confectionaries, pharmacy, and others. The healthcare industry is the largest user of folding cartons, followed by the tobacco industry. Carton manufacturing companies are coming up with new designs, processes, and innovative techniques to enable the brand owners to distinguish their products from competitors through attractive packaging. Similarly, there has been an advent of innovative printers and converters in the market, which adopt new printing technologies that are capable of offering more impactful finishing techniques such as spot varnishing, embossing and hot foiling.
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The constant significant growth witnessed in the healthcare, tobacco, and food processing industries is the major driving force for the anticipated growth of the global folding cartons market in the near future. Introduction of migration barriers to avoid contamination of carton board materials as a result of the food packed inside it, has made folding cartons a safer packaging option in the food industry. With technological advancements, carton packaging of products can now be modified and made more attractive and handy for the customers, thereby giving a competitive edge to the brand owners, thereby driving its market growth. However, folding cartons producing unit is an expensive project to start up. Hence, many entrepreneurs are not easily willing to invest in this industry. Also, these units need to achieve high volume production in order to recover their investment as well as to achieve a wafer-thin profit margin. These economic limitations related to folding cartons manufacturing could hinder growth of the global folding cartons market over the forecast period.
The growth opportunity for players in the global folding cartons market lies in achieving cost savings on packaging materials by packing the products in folding cartons. The trend of industries to move towards single serve packs and introduce smaller packs of their products are increasingly driving them towards using folding cartons. However, the availability of substitutes for folding cartons packaging, such as plastics packaging materials, that offer a more flexible packing option than the folding cartons is a major factor that could hamper growth of the folding cartons market over the forecast period. The global folding cartons market is expanding at a modest growth rate currently, and is anticipated to expand at a single digit CAGR over the forecast period.
The global folding cartons market is segmented based on product type, structure, and application. By product type, the global folding cartons is segmented into paperboard folding cartons, green folding cartons, and plastic folding cartons. By structure, the global folding cartons is segmented into rectangular sleeve, french reverse tuck, standard reverse tuck, airplane style straight, standard straight tuck, mailer lock, bellows tuck, and tuck & tongue. By application, the global folding cartons is segmented into tobacco, dairy products, hardware and electrical, personal care, confectionary, frozen food, dry food, and others.
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By geography, the global folding cartons market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Asia Pacific is currently the leader in the global folding cartons market, owing to the flourishing industries in this region, such as food and beverages, tobacco, and pharmacy. North America is the second largest contributor to growth of the global folding cartons market currently, due to the thriving healthcare industry in the region. The upcoming personal care and confectionary industries in Europe and Latin America mark their significant presence in the global folding cartons market. The Middle East and Africa market is still at a nascent stage; however, it is anticipated to account for a considerable share of the global folding cartons market over the forecast period.
Some of the key players in the global folding cartons market are Amcor Limited, Graphic Packaging International, Inc, WestRock Company, All Packaging Company, Artistic Carton Company, Bell Packaging, Caraustar, Cherokee Packaging Inc, Craftsman Packaging, Inc, F.P.Woll & Co, Menasha Packaging Company, LLC, and Midlands Packaging Corporation.
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