Hinge Lid Cartons Market is Driven On the Backdrop of Rampant Growth of the Global Retail Sector
Packaging plays a vital role regarding product differentiation, protection and hygienic control of the product. Among all the packaging types, cartons are one of the most important forms of packaging. Hinge lid cartons have an added advantage over other types of cartons owing to its properties such as elegant carton shape, high load bearing capacity and good appearance. These properties are expected to boost the demand for hinge lid cartons market in the near future.
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Hinge lid cartons: Market Dynamics
Hinge lid cartons market is primarily driven on the backdrop of rampant growth of the global retail sector. Moreover, hinge lid cartons are used widely for retail ready packaging to provide protection during shipping and transportation. Furthermore, hinge lid cartons are being extensively preferred for tertiary packaging in case of food products. This is expected to impact positively the sales of hinge lid cartons supported by an increasing demand for ready to eat food globally. The rising need for hinge lid cartons particularly to store and transport medicines and medical devices safely in the healthcare industry is expected to drive the global hinge lid cartons market over the forecast period. In addition to this, hinge lid cartons also used for packaging consumer and personal care products which can play an important role in enhancing its demand in the next decade. Furthermore, a mounting demand for jewelry packaging is also one important factor which is expected to stimulate the growth of this market. Increasing adoption of hinge lid cartons for tobacco packaging especially for cigarettes is expected to fuel the demand of hinge lid cartons during the forecast period. It has been noticed that the consumption of alcohol is increasing gradually which in turn is accelerating the growth of hinge lid cartons market. However, the regulatory landscape which encourages banning of alcohols and tobacco in some places can hinder the growth of hinge lid cartons market over the stipulated period.
Hinge lid cartons: Market Segmentation
The global hinge lid cartons market is segmented on the basis of material, feature, and application
Based on the material type, the global hinge lid cartons market is segmented into:
Then the paper segment is also sub-segmented into:
Based on the feature, the global hinge lid cartons market is segmented into:
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Hinge lid cartons Market: Regional Outlook
In terms of geography, the global hinge lid cartons market has been divided into five key regions including North America, Latin America, Europe, Asia-Pacific and the Middle East & Africa. Asia-Pacific region is expected to be the fastest-growing region during the forecast period with rising demand from developing countries such as China, India and Indonesia. Furthermore, these countries are witnessing an impressive growth in food & beverages and pharmaceutical industry. Increasing adoption of hinge lid cartons from packaging companies in Europe and North America is expected to fuel the demand for the product in this developed cluster of the globe. Moreover, the MEA region is expected to witness a steady growth rate by the end of 2024.
Hinge lid cartons Market: Key players
Some of the key players in the global hinge lid cartons market are Amcor Limited, AR Packaging Group AB, Custom Cartons, ITC Limited, AR Cartoon, Coast Packaging Company, Cedar Packaging, Dart, Inno- Pak LLC etc.
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