The global folding carton packaging market size is projected to reach USD 171.35 billion by 2025, according to a new report by Grand View Research, Inc. The steady expansion of various end-use industries including food & beverage, electronics, household, personal care & cosmetics, healthcare, and others has been attributing to the growth of the market from the past several years. In addition, the growing demand for sustainable packaging, on account of rising environmental concerns over the use of plastic packaging, has also been contributing to the expansion of the market.
Folding cartons are made up of paperboard, which offers sustainability. Besides, manufacturers are increasingly using the recycled paper pulp and non-wood pulp to extend the suitability of folding cartons further. Moreover, the increasing ban on plastic packaging products, especially on single-use plastic across the world, is expected to expand the application scope of the folding carton in the coming years.
Furthermore, folding cartons offer excellent printability, rigidity, and are available at a lower cost as compared to their counterpart, plastic molded containers. These properties make folding cartons an ideal packaging solution for the packaging of small-medium sized goods. In addition, digital printing improves the product appeal on the retail shelf. This has boosted demand for digitally printed folding cartons substantially, which, in turn, is expected to fuel the growth of folding cartons over the forecast period.
In terms of end-use, the folding carton finds its application in various industries including food & beverage, household, personal care & cosmetics, healthcare, tobacco, electrical & electronics, and others. The food & beverage industry accounted for the largest share in 2018 and is likely to continue its dominance over the forecast period. Increasing demand for packaged food products on account of changing the lifestyle of the consumer is further expected to expand the food & beverage segment in the coming years.
Folding carton finds considerable application in tobacco packaging, especially in cigarette packaging. The global tobacco industry has been witnessing steady growth despite several bans and heavy taxation owing to rising adoption by the millennials. Thus, the steady expansion of the tobacco industry is anticipated to favor the growth of the market in the coming years.
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Further key findings from the report suggest:
In terms of value, the global folding carton packaging market is anticipated to reach USD 171.35 billion by 2025, on account of factors such as the increasing demand for sustainable packaging, along with the significant expansion of electronics industry
Food & beverage emerged as the largest end use segment in the market. Increasing demand for packaged food products along with rising prepared food demand are principally expanding the food & beverage end use segment
Anti-counterfeit measure such as RFID, embedded bar code are being increasingly incorporated on folding carton to avoid counterfeiting of products. Further, demand for digitally printed folding carton is increasing due to their excellent graphics. This advancement of technology in folding carton packaging is also fueling the market growth
Asia Pacific folding carton packaging market is anticipated to reach USD 78.92 billion by 2025. Changing consumer lifestyles, coupled with the growing middle class, increasing disposable incomes, and busy lifestyles, has further augmented the demand for packaged food & beverage, electronics, and other consumer goods, which is in turn likely to fuel the demand for folding carton over the coming years.
The global market is highly fragmented with the presence of numerous market participants. Key players operating in the market include WestRock Company, Bell Incorporated, Graphic Packaging International, LLC, Amcor Limited, Huhtamaki Oyi, Sonoco Products Company, Georgia-Pacific LLC., and others.
Grand View Research has segmented the global folding carton packaging market on the basis of end use and region:
Folding Carton Packaging End Use Outlook (Revenue, USD Million; 2014 - 2025)
Food & Beverages
Personal Care & Cosmetics
Electrical & Electronics
Folding Carton Packaging Regional Outlook (Revenue, USD Million; 2014 - 2025)
Central & South America
Middle East and Africa
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