One of the major trends in the folding carton market is increase in technological innovations wherein with the use of the latest technologies and designs, vendors are launching new products to address the growing demand for folding cartons. The analysts forecast the global folding carton market to grow at a CAGR of 4.12% during the period 2016-2020.
Growing demand for packaged foods products is driving the growth of the folding carton market. This increase in demand is a result of the rise in population and increase in disposable income of consumers in many parts of the world. This will also lead to a rise in demand for folding cartons used for packaging.
This report covers the present scenario and the growth prospects of the global folding carton market for the period 2016-2020. To calculate the market size, the report considers revenue generated from the sales of folding cartons by vendors in the market.
The food products segment dominates the folding carton market and will account for close to 27% of market share by 2020. Increased demand for convenience foods from consumers around the globe and organized retailing has resulted in higher demand for folding cartons. Food vendors are under pressure to offer products with a long shelf life and attractive packaging to gain customer attention. The APAC region accounted for the largest market share of close to 42% during 2015. This market share is expected to increase by the end of the forecast period. China is the leading user of folding cartons, accounting for over 50% of the overall consumption. Most of the demand for such packaging is from the food and beverages industry. New manufacturing technologies are also driving the growth of the folding carton market in this region.
The global folding carton market is highly competitive with the presence of several leading vendors. Though there is no specific vendor who dominates any of the paperboard segments, the overall market is dominated by a few large firms. Competition is intense in the areas of pricing, design, innovation, service and quality. Larger vendors are following an inorganic growth strategy to expand their global presence.
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