LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global folding carton market predicts a CAGR close to 5% during the period 2017-2021.
The report segments the global folding carton market by end-user including, food, personal and household care, and healthcare; and by geography including, APAC, EMEA, and the Americas. It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global folding carton market, according to Technavio transportation and logistics researchers:
- Increase in demand for folding cartons from healthcare sector: a major market driver
- The food segment dominated the market with approximately 30% share in 2016
- APAC dominated the global folding carton market with a share of 43% in 2016
- Graphic Packaging International, Smurfit Kappa, Sonoco, and WestRock are the leading players in the market
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
Increase in demand for folding cartons from healthcare sector: a major market driver
The healthcare industry is expected to witness a considerable boost in the demand for folding cartons during the forecast period. Paperboard cartons and cases, in folding cartons, are widely used to contain, protect, and transport medical products and pharmaceutical drugs. Due to swift growth in population along with an increase in expenditure on healthcare, the Association of Southeast Asian Nations (ASEAN) countries is expected to be the chief contributors to the increase in the demand for folding cartons in the healthcare industry. The need for easy to carry, recyclable, and biodegradable packaging solutions for medicines and associated products will have a positive impact on the demand for folding cartons in the healthcare and pharma industry.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
China leading the market in APAC
The leading users of folding cartons and overall consumption in APAC is China. It accounts for almost 55% of the market in this region. The food industry is expected to have the highest demand for folding carton packaging during the forecast period. One of the drivers for the growth of the folding carton market in APAC is the development of new manufacturing technologies.
According to Sharan Raj, a lead analyst at Technavio for research on packaging, “APAC is expected to witness a significant growth during the forecast period due to the rise in the demand for convenience foods. In countries such as India and China, the introduction of active and intelligent packaging with anti-counterfeit technology is projected to boost the market. The increasing demand for folding cartons is expected to draw more attention from vendors while generating an increase in investment.”
Competitive vendor landscape
Presence of several vendors offering folding cartons for a variety of products has led to the global folding carton market being highly competitive. No sole vendor dominates the market; however, a large part of the market is collectively dominated by certain large firms. Vendors in the market compete with small as well as large, vertically integrated folding carton companies. Vendors also compete globally with a number of small non-integrated companies that manufacture various segments of paperboard.
Get a sample copy of the global folding carton equipment market report free of cost
Access Technavio’s continuously growing packaging research library and find expert analysis on hundreds of markets.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
