Pune, India, Dec. 21, 2021 (GLOBE NEWSWIRE) -- According to Fortune Business Insights™, the global folding carton market size is projected to experience speedy growth in the forthcoming years owing to the increasing demand for folding carton from the electrical industry. The folding carton is used for packaging of ready-to-eat food items which are packaged using a paperboard, plastic, or biopolymer. There has been an increasing demand for folding cartons from several electrical and electronics industries across the world owing to the constant advancements in the packaging and printing technologies of the folding carton material. Thus, this is an important factor driving the growth of this folding carton market trends.
However, the continuous change in the price of wood pulp is projected to hamper the growth of this market.
List of Key Players Covered in the Folding Carton Market Report:
- Smurfit Kappa Group PLC,
- WestRock Company,
- Graphic Packaging International LLC,
- Mayr-Melnhof Karton AG,
- Seaboard Folding Box,
- Quad Graphics Inc.
COVID-19 Impact:
The COVID-19 pandemic has had a huge impact on the chemicals and materials industries worldwide. This pandemic has disrupted the supply chains in the chemicals industry which has resulted in huge loss of business, thus, affecting the demand for folding cartons across several regions of this market.
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Highlights/Summary:
The report incorporates actionable insights into the regional prospects of the folding carton market supply-demand and provides a comprehensive analysis of the market drivers and challenges. Further, the report also contains detailed bifurcation of key market players and careful study of their strategies and offers a granular evaluation of the different market segments.
Market Segmentation:
On the basis of type, this market is divided into biopolymer, paper and paperboard, plastics, and others. By end-use industry, the market is classified into food and beverages, personal care, healthcare, tobacco, hardware and electrical, and others. Based on geography, the market is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Drivers/Restraints:
Increasing Demand for Convenient Packaged Food Products to Fuel the Market
In recent years, the folding carton has gained prominence across various end-user industries such as electrical, food and beverages, and others due to the rising demand for folding cartons in packaging of the food products with the help of recyclable and eco-friendly packaged material. Thus, there is a high demand for convenient packaged food products across several regions, which is anticipated to bolster the growth of this folding carton market size.
Regional Insights:
Increasing Demand for Ready-to-Eat Foods to Boost the Asia Pacific Market Growth
Asia Pacific region is projected to dominate the folding carton market share on account of the rising demand for ready-to-eat food items in the countries such as India and China.
North America region is anticipated to grow rapidly in this market due to the increasing demand for online grocery shopping in the countries such as the US and Canada.
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Competitive Landscape:
Manufacturing of Recyclable Folding Cartons to Intensify Competition
The leading companies in the folding carton market are focusing on the manufacturing of recyclable and environment-friendly folding cartons in order to increase their customer base across several regions of this market. This has resulted in the increasing competition among key companies which will help them to widen their product portfolio and expand their business operations.
Key Players Assessment in this Research:
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in this market
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
Key Industry Development:
June 2018: Elopak launched Pure-Pak cartons made of natural brown board. The new natural brown cardboard Pure-Pak cartons were carbon neutral and released one year after the launch of Elopak's fresh gable top carton. This launch was intended to expand the company's packaging portfolio across the Europe.
Key information from the Research Report:
- Extensive information on factors estimated to affect the market growth and share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects of market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter's Five Force analysis.
- The in-depth analysis provides an insight into the market, underlining the growth rate and opportunities offered in the business.
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