Folding Carton Market to grow at a CAGR of 4.69% during 2024-2028
The Folding Carton Market is expected to grow at a CAGR of 4.69% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 43.65 billion. The folding carton market is experiencing significant growth, driven by increasing consumer demand for this packaging type. To capitalize on this trend, major vendors are introducing advanced product offerings. One such innovation includes folding cartons featuring nanotechnology decorative elements, designed to captivate customers in the retail drinks sector. These products are manufactured using FSC-certified paper and showcase intricate floral designs. Moreover, the heightened focus on food safety has led to the development of specialized coatings, such as barrier coatings, for folding cartons to ensure product protection and consumer confidence.
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Technavio analysts predict that the Food and beverage subsegment will lead the End-user segment during 2024 and 2028 The food and beverage sector is projected to dominate the folding carton market, driven by the expanding sales of packaged food and beverages globally. Changing consumer lifestyles and food preferences are fueling the growth of the packaged food and beverage industry. Folding cartons, a popular choice for rigid packaging, cater to this trend by offering appealing designs and enhanced protection against damage during transportation. Key product categories in this segment include cereals, dry food, frozen foods, candies and confectioneries, dairy products, refrigerated meat, wine, juices, beer, carbonated soft drinks, non-carbonated specialty beverages, and others. The adoption of folding cartons as secondary packaging solutions further stimulates demand for this packaging format in the food and beverage industry.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish rise in demand for digitally printed folding cartons
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The Folding Carton Market is witnessing significant growth due to the increasing demand for solid whiteboard materials in packaging, particularly in the consumer goods industry. This market is also being driven by advancements in technology, such as UV inks, digital technology, QR codes, holographic seals, and tamper-evident closures. These technologies enable the creation of smart packaging solutions, including covert authentication and RFID technology, which offer enhanced security and consumer engagement. Moreover, the market is shifting towards eco-friendly and sustainable packaging solutions, such as lightweight cartons made of biodegradable paperboard. This trend is being fueled by the growing demand for green packaging, particularly in the food and beverage sector, where frozen goods require specialized packaging to maintain temperature and freshness. Folding cartons are also being used to enhance the product design and branding of consumer goods, with thermochromic inks and sustainable materials adding an eco-friendly touch. The market is expected to continue growing, with a focus on innovation, customizability, and anti-counterfeit technologies to meet the evolving needs of consumers and businesses.
The global folding carton market is a significant segment of the extensive paper packaging industry, according to Technavio's market research. Paper packaging offers numerous advantages, including being a cost-effective, lightweight, biodegradable, and recyclable solution for protecting, preserving, and transporting various goods. Paper packaging encompasses categories such as packaging boards, kraft paper, and other types of packaging papers. In contrast, plastics are frequently employed in packaging applications for products like food, beverages, oil, and more. The versatility of plastics is demonstrated through their availability in various grades and material combinations, such as polyvinyl chloride, polypropylene, polyethylene, and others, based on the specific requirements of the product being transferred.
The Folding Carton Market is experiencing significant growth, fueled by the rise in demand for digitally printed folding cartons. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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