LONDON--(BUSINESS WIRE)--The global folding carton market is expected to post a CAGR of over 5% during the period 2019-2023, according to the latest market research report by Technavio.
Digital printing is likely to gain traction in the folding carton market owing to the need for fast turnaround and personalized packaging from various brands. Several retailers, brands, and their supply chain partners are experiencing a rise in demand for folding cartons with appealing graphics to grab consumers' attention. Some of the companies are focusing on offering digital printing technology for the packaging market. The availability of various types of digital carton presses has further helped in the creative use of digital printing technology to serve customers' needs. Thus, with the rise in demand for digitally printed folding cartons, there will be a simultaneous increase in market growth for folding cartons during the forecast period.
As per Technavio, the growing popularity of smart folding cartons will have a positive impact on the market and contribute to its growth over the forecast period. This global folding carton market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Global folding carton market: Growing popularity of smart folding cartons
Advances in the printed electronics technology are making the development of smart packaging economical, by reducing the prohibitive costs associated with this technology. The smart folding carton market is growing owing to the rise in the need for sophisticated packaging in applications such as medical monitoring. Smart folding cartons can be tracked during the entire delivery process, as they provide customers with product information using QR codes or feature individualized design and messages for customers. The incorporation of several technologies such as QR codes, NFC, RFID, and embedded barcodes will help in gaining customer trust through improved customer experiences. The rise in popularity of smart folding cartons is likely to boost the market during the forecast period.
“Apart from the growing popularity of smart folding cartons, the increase in the need for recyclable and sustainable packaging, growth in the e-commerce sector, and the adoption of eco-friendly materials for manufacturing folding cartons are some other major factors boosting the growth of the global market,” says a senior analyst at Technavio.
Global folding carton market: Segmentation analysis
This market research report segments the global folding carton market by end-user (food and beverage, personal care and household, healthcare, other end-users) and geographical regions (APAC, North America, Europe, MEA, South America).
The APAC region led the market in 2018 with a market share of over 45%, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to continue dominating as well as register the highest incremental growth.
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 such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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.