"Binding Intellectual insights for your Business"
The global folding cartons market size was valued at USD 156.14 billion in 2021. The market is projected to grow from USD 162.50 billion in 2022 to USD 226.10 billion by 2029, exhibiting a CAGR of 4.8% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with folding cartons experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a decline of -2.8% in 2020 as compared to 2019.
Folding cartons are one of the most popular types of product packaging and are used extensively to ship anything. They are utilized in packaging foods, cosmetics, electronics, pharmaceutical products, and many others. They are boxes or box sleeves made of either corrugated cardboard or single-ply paperboard and are designed with a particular machine that cuts, creases, glues, and scores the box material to produce the desired size and shape. They offer several advantages over other types of packaging, which drives the overall market growth. As they are available in almost every size and shape and are highly customizable, they are gaining huge demand among various end-use industries. Moreover, the cost-effective and environment-friendly nature offered by the packaging is likely to boost the market growth of folding cartons over the forecast period.
Supply Chain Disruption Amid the Pandemic Hindered Market Proliferation
With the outbreak of COVID-19, the market growth was negatively impacted. The market faced slow growth as various governments imposed lockdowns and shutdowns. Disruptions in the supply chain caused declining growth in the initial stage of the pandemic. However, along with the growing cases, customers were observed to increase their focus on purchasing groceries in stocks, increasing the demand. The stockpiling from customers will further boost the folding cartons market growth. Moreover, the COVID-19 pandemic also led to a change in consumer eating and purchasing habits. Many consumers have increased their spending on convenience food items and Ready-to-Eat (RTE) foods, which led to increased demand around the world.
Request a Free sample to learn more about this report.
Introduction of Anti-counterfeit Technologies & Advancements in Smart Packaging Solutions is Emerging as a Key Trend
The introduction of anti-counterfeit technologies that can be very effective for packaging is gaining popularity and is anticipated to propel the market growth. Anti-counterfeit technologies, such as embedded barcodes, RFID, and many more, can be easily incorporated as they offer excellent printability and rigidity. Rapid growth in the usage and awareness of anti-counterfeit measures owing to rising counterfeiting is expected to emerge as a critical trend for the market. Moreover, along with the growing coronavirus outbreak, packaging companies have increased their usage as they are an intelligent system for storing or transporting rapid PCR-based COVID-19 tests. Companies manufacturing such packaging solutions are taking advantage of this opportunity, which can thus foster market growth. Additionally, advancements in smart packaging solutions are also emerging as a trend worldwide.
Potential Benefits Offered by Folding Cartons Generate Demand in Various Industries
Folding carton offers various benefits such as excellent printability, flexibility, and rigidity, which have thus created a demand in many end-use industries. The end-user industries are majorly incorporating such packaging solutions for packaging small and medium-sized consumer goods, pharmaceuticals, or food & beverage products. They are engineered and designed in such a manner that they can be created into a variety of different styles. Each style is tailored to meet certain specifications and the customers' requirements, thus gaining popularity among the end-use industries.
Moreover, as they are environment-friendly, the market will witness immense growth in the coming years. Moreover, an effective ban on single-use plastic packaging by regulatory bodies worldwide and rising sustainability awareness among consumers have created a demand for eco-friendly and non-plastic packaging. Such potential benefits are thus driving the market.
Massive Growth in the Food & Beverages Industry Fosters the Global Demand for Folding Cartons
The market is growing along with the growing food and beverages industry. Widespread awareness regarding food safety has led to the utilization of folding cartons with several coatings to absorb unwanted contaminants into food and prevent ingress. The growth in the market can also be attributed to the constant demand for frozen/chilled foods, cigarettes, ready-to-eat, and dry foods, especially in emerging economies. They are considered the best option for packaging various dry foods. They are widely used in dry foods such as nuts, pasta, dry fruits, dried beans and peas, potatoes in a box, powdered milk, dried fruits and vegetables, rice, and several others.
Moreover, the changing consumer preferences and dietary and eating patterns also drive the overall market growth. Furthermore, the need for barrier coating will also propel the market growth. The increasing usage of curtain coating technology in paper mills, the development of water-based coatings for converters, and the development of nanotechnology to create thinner barriers have generated the need for barrier coatings, thus driving the market.
Volatility of Wood Pulp Prices to Hinder Market Growth
Wood pulp prices are continuously fluctuating due to the demand-supply gap. The volatility in these prices negatively impacts the market expansion and thus leads to a substantial decrease in the profit margin of the folding carton manufacturers. The pulp market has been observed to be down for many years, which thus results in price fluctuations and impedes the market growth. However, in many countries, the prices have sharply increased, and their production capacity has been reduced. It has thus led to an increase in paper prices, further hampering the growth of the market. For instance, raw material shortage in India has caused a rise in the price of domestic wastepaper. Henceforth, instability in the prices of wood pulp results in high paper prices, thus hindering the demand.
Paper Segment Dominates the Market Due to Several Potential Benefits of the Material
Based on material, the market is segmented into paper and plastic. Paper material is gaining immense demand. The segment is expected to dominate the market over the forecast period as paper packaging allows consumers to see and understand the product easily on the retail shelf itself. They also provide easy-to-open and re-close designs, positively impacting the global market. Moreover, as recycling is easy, it is an effective alternative to many packaging methods. Additionally, the large printable area also acts as a significant factor for the growth of this segment.
To know how our report can help streamline your business, Speak to Analyst
Food & Beverages Segment Accounted for the Largest Segment Owing to its Increased Consumption Worldwide
Based on end-use industry, the market is segmented into food & beverages, pharmaceutical, personal care & cosmetics, electrical & electronics, tobacco, and others. Food & beverages is the leading segment. The steady expansion of packaged food is considered the leading factor of the growth of the food and beverage industry. Further, the massive change in lifestyle trends and consumer buying behavior has led to positive growth in the food and beverages industry. The increased consumption of convenient food products has created a demand, thus boosting the growth of the food & beverages segment. In addition, the growing consumption of ready-to-eat food products and the rise in the working women population are also boosting the food & beverages sector, thus driving the market.
Europe Folding Cartons Market Size, 2021 (USD Billion)
To get more information on the regional analysis of this market, Request a Free sample
The global market is analyzed across Europe, North America, Asia Pacific, the Middle East & Africa, and Latin America. Europe has the largest folding cartons market share and is anticipated to witness significant growth due to the demand from the personal care and food & beverages industries. The increasing adoption of multisensory packaging of such products in the region will also lead to fast growth. Asia Pacific is expected to increase with the rapid expansion of food and beverage, cosmetics, and other industries. China and India contribute the highest to the market growth owing to the large number of consumers eating out and opting for food delivery. North America is projected to show substantial growth in the market due to the augmenting demand for sustainable packaging solutions. The significant growth in the personal care and cosmetic sector also aids the regional growth. Latin America and the Middle East & Africa regions are expected to exhibit steady growth owing to the wide adoption of folding cartons due to their widespread advantages, growing cosmetics and pharmaceutical industries, and changing consumer buying behaviors.
Key Market Players Witness Significant Growth Opportunities
The global market is highly fragmented and competitive. A few major players dominate the market share by offering advanced packaging in the packaging industry. These folding type of cartons players are constantly focusing on expanding their customer base in several regions.
Other key players operating in the market include Westrock Company, Amcor Limited, Huhtamaki Oyj, Graphic Packaging International, and Smurfit Kappa Group. Numerous players operating in the market are focused on delivering advanced packaging solutions.
An Infographic Representation of Folding Cartons Market
To get information on various segments, share your queries with us
Value (USD Billion)
By Material, End-use Industry, and Region
By End-use Industry
The Fortune Business Insights study shows that the global market was USD 156.14 billion in 2021.
The global market is projected to grow at a compound annual growth rate CAGR of 4.8% in the forecast period.
The market size of Europe stood at USD 60.43 billion in 2021.
Based on material, the paper segment holds the dominating share in the global market.
The global market size is expected to reach USD 226.10 billion by 2029.
The potential benefits of folding cartons and massive growth in the food & beverages industry are fostering the product demand.
The top players in the market are Westrock Company, Amcor Limited, Huhtamaki Oyj, Graphic Packaging International, Mayr-MelnhofKarton AG, Stora Enso Oyj, Rengo Co., Ltd., Oji Holdings Corporation, Smurfit Kappa Group, Seaboard Folding Box Company Inc., Bell Incorporated, Schur Pack Germany GmbH, and Georgia-Pacific LLC.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry