The global folding market is increasingly competitive and fragmented. There are several players that operate in the market, some of the stalwart market players in the global folding market include AR Packaging Group AB. Huhtamaki Oyi, Sonoco Products Company, Westrock Company, and Sonoco Products Company. These players in the global folding cartons market are concentrating on improved products to gain their foothold in the competitive market.
The global folding cartons market is expected to grow at a CAGR of 4.7% during the forecast period 2017 to 2025. The estimated value of consumption is projected to be 29,036,000 tonnes by the end of 2025. The growth in the global folding market is likely to because of rising demand for packaged food and beverages.
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On the basis of region, Asia Pacific is foreseen to rule in the global folding cartons market. The growth in Asia pacific is subject to rising trend of packaged food and beverages, especially in developing economies like China and India. On the basis of end users, the global folding carton market is segmented into cosmetics and personal care, food and beverages, institutional, healthcare, household, and electrical and electronics. However, of all these, the food and beverage segment is expected to hold a dominant share in the global folding cartons market during the forecast period.
Changing Lifestyle is expected to Stimulate Growth in Global Folding Carton Market
With rapid urbanization and there’s an increasing shift in the standard of living. This calls for convenience food or packaged food. Thus, huge demand for folding cartons comes into place. Hence, the global folding cartons market is expected to grow at substantial rate during the forecast period. Rising technological advancements is also likely to provide growth in the global folding cartons market in the near future. Rising demand for cigarettes are expected to hit the global folding carton market positively.
Cosmetics and Personal Care Sector to Boost Demand in Global Folding Carton Market
Changing lifestyle and rising disposable income has led to increase in consumption of cosmetics and personal care products. This is expected to drive the global folding carton market in the upcoming years.
Additionally, launch of new products, rising consumer awareness is expected to proliferate the global folding market in the forthcoming years. Furthermore, rising research and investments in this field is projected to pave way for the expansion in the global folding market in approaching years. Moreover, the demand to cater to various types and sizes of cartons to provide impetus to the growth in the global folding market.
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One thing that may acts as a restraint is rising price of wood pulp, this may dampen the global folding cartons market in the near future. Moreover, the prices of paper has been increasing exorbitantly for the last few years, this again may act as a deterrent in the global folding carton market.
Nonetheless, the market players are investing in introducing eco-friendly cartons, thereby focussing on tapping on potential consumers. Additionally, the healthcare sector and household sector may also create a huge demand for the recyclable and sustainable carton in the near future; Therefore, the global folding carton market is expected to witness an array of opportunities in the upcoming years.