ALBANY, New York, November 15, 2017 /PRNewswire/ --
With the increasing number of sales channels of consumer goods, more companies are entering into the global folding cartons market, which is making the vendor landscape further fragmented. That being said, a few top companies namely WestRock Company, Graphic Packaging Holding Company, DS Smith plc, Mayr-Melnhof Karton Gesellschaft M.b., which together close to 18% share in the market in 2016, are vying with one another to expand into potential regions. The companies are resorting to mergers and acquisitions and strategic partnerships with smaller players who have foothold in their respective region.
Some other prominent companies in the market are Smurfit Kappa Group, DS Smith plc, International Paper Company, Amcor Limited, Westrock Company, and Pratt Industries Inc. among others.
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A fresh market intelligence study by Transparency Market Research (TMR) reveals that the demand in the global folding cartons market will increment at a CAGR of 4.7% during the forecast period of 2017 to 2025. As per estimations of the report, the opportunities in the folding cartons market will be worth US$57,692.1 mn in 2017. In terms of volume, the consumption of folding cartons is expected to be pegged at 29,036'000 tonnes by 2025.
Among the key end users, food and beverage is expected to lead holding more than 50% market share over the forecast period. In terms of received order type, customized order segment is anticipated to display a 5.1% CAGR over the forecast period between 2017 and 2025, and account for the leading incremental dollar opportunity in global folding cartons market. Geography-wise, Asia Pacific is anticipated to emerge as a lucrative holding 46.7% of the overall market by 2025.
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Burgeoning Packaged Food Industry a Boon for Market
Majorly fuelling the global folding cartons market is the increasing consumption of packaged food and beverages. Additionally, increasing consumption of bakery products and ready to eat meals is accentuating demand for folding cartons. Hectic lifestyles and increasing number of women in the workforce have been reasons for increasing consumption of packaged food and beverages. Packaged food manufacturers are increasingly using rigid packaging which is appealing to consumers and is less likely to get damaged during transportation. This is fueling demand for sustainable packaging solutions such as folding cartons.
The rising demand for cosmetic and personal care products is creating the demand for small size folding cartons. The accounts for the personal care industry to account for significant revenue contribution to the folding cartons market.
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Availability of Sturdy Substitutes Hampers Growth
On the downside, the availability of alternatives such as flexible plastic packaging has emerged as a strong substitute for rigid packaging products such as folding cartons. Also, use of recycled paper in the manufacture of folding cartons has large percentage of short fibers that accounts for their low strength threshold. Thus, several end-use industries are opting for alternative packaging solution.
The global folding cartons market is segmented as follows:
Folding Cartons Market - By Structure Type
- Straight Tuck End
- Reverse Tuck End
- Tuck Top Auto-Bottom
- Tuck Top Snap-Lock Bottom
- Full Seal End
- Double Glued Sidewall
Folding Cartons Market - By End Use Industry Type
- Less than 4 X 1.5 X 6 (Inch)
- 4 X 1.5 X 6 to 6 X 4 X 10 (Inch)
- 6 X 4 X 10 to 10 X 6 X 12 (Inch)
- 10 X 6 X 12 to 12 X 8 X 14 (Inch)
- More than 12 X 8 X14 (Inch)
Folding Cartons Market - By End Use Industry Type
- Food & Beverage
- Frozen Food
- Fresh Food
- Bakery and Confectionary
- Ready to Eat Meal
- Baby Food
- Pet Food
- Other Food
- Alcoholic Beverage
- Non Alcoholic Beverage
- Cosmetic & Personal Care
- Electrical & Electronic
- Other Industry
Folding Cartons Market - By Received Order Type
- Customized Order
- Standard Order
Folding Cartons Market - By Material Type
- Folding Boxboard
- Solid Unbleached Board
- Solid Bleached Board
- White Line Chipboard
Folding Cartons Market - By Region Type
- North America
- Latin America
- Asia Pacific (APAC)
- Middle East and Africa (MEA)
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SOURCE Transparency Market Research