The global folding cartons market size was estimated at US$ 142 billion in 2022 and is expected to surpass around US$ 199.33 billion by 2032, poised to grow at a CAGR of 3.50% during the forecast period 2023 to 2032.
Access our Premium Real Time Data Intelligence Tool, Visit: Precedence Statistics
The Asia Paific folding cartons market size was valued at US$ 53.96 billion in 2022 and is projected to hit over US$ 75.75 billion by 2032, growing at a CAGR of 3.50% between 2023 to 2032.
Asia Pacific dominated the global folding cartons market in 2022. The changing lifestyle, rising demand for packaged food, and rising personal disposable income of the consumers are some of the major factors that drives the growth of the Asia Pacific folding cartons market. The presence of huge population, presence of top manufacturers of various industries, and the growing demand for online shopping among the youth are the prominent drivers of the Asia Pacific folding cartons market. The emerging nations like India, China, Indonesia, and South Korea are expected to drive the demand for the folding cartons owing to the rapid industrialization in the region. Furthermore, the rising penetration of the organized retail chains in this region is spurring the market growth.
The Middle East and Africa is estimated to be the most opportunistic market during the forecast period. The rising penetration of e-commerce, growing demand for packaged food, and rapidly growing population are some of the major driving forces. The growing penetration of the industries and surging penetration of the e-commerce in this region is expected to have a positive impact on the growth of the market.
The surging demand for the sustainable packaging solutions across the globe is boosting the demand for the folding cartons over plastic packaging. Folding cartons are a biodegradable packaging material which promotes sustainability. The rising concerns over the accumulation of plastic wastes across the globe, rising government initiatives to promote sustainability, and shifting focus of the manufacturers towards eco-friendly packaging are the major drivers of the folding cartons market. The rising consumer awareness regarding the deteriorating environmental conditions due to the plastic wastes is fueling the demand for the eco-friendly folding cartons packaging across the globe. Plastic is a major cause of water pollution. The wide availability of the folding cartons and the low cost of the folding cartons are the most prominent factors that boost the growth of the global folding cartons market. Furthermore, the folding cartons are available in different sizes that foster its adoption across a wide range of end use industries. The surging demand for the folding cartons across various end use verticals such as household, food & beverages, healthcare, and electronics is positively contributing towards the growth of the global folding cartons market. The folding cartons are lightweight, convenient, and portable packaging solutions that serves the need for the flexible packaging.
The surging penetration of the e-commerce across the globe is another factor that is expected to drive the growth of the global folding cartons market. The rapid growth of the various e-commerce platforms such as Pepperfry, Amazon, Flipkart, eBay, and Wal-Mart and the growing adoption of these platforms among the consumers has resulted in a burgeoning demand for the folding cartons. The folding cartons are popularly used as a packaging material that serves the e-commerce and logistics in the transportation of various products. The rising investments in the development of telecommunications and IT infrastructure, rising penetration of internet, and rising adoption of smartphones are driving the sales through e-commerce platforms, which in turn fuels the growth of the folding cartons market. The folding cartons offer several benefits such as flexibility, rigidity, and printability that makes it a popular choice as a packaging material in the consumer goods and food and beverages industry. Moreover, the governments in many countries have banned the single-use plastics and surged the awareness regarding the harmful effects of the single-use plastics on the environment. This has augmented the demand for the folding cartons market across the globe. Furthermore, the latest anti-counterfeit technology like embedded barcode and RFID can easily be incorporated in the folding cartons. The rising adoption of the anti-counterfeit technology among the sellers across the globe is significantly boosting the growth of the global folding cartons market.
The outbreak of the COVID-19 pandemic in 2022 had a positive effect on the global folding cartons market. The lockdown restrictions and travelling ban regulations during the pandemic has significantly surged the demand for the online shopping of various consumer goods, food & beverages, medicines, and groceries. The rapid demand for the online shopping platforms during the pandemic has significantly boosted the consumption of the folding cartons across the globe.
|Market Size by 2032||USD 199.33 Billion|
|Growth Rate from 2023 to 2032||
CAGR of 3.50%
|Food & Beverage Market Share in 2022||36%|
|Largest Market||Asia Pacific|
|Fastest Growing Region||Middle East and Africa|
|Forecast Period||2023 to 2032|
|Segments Covered||End Use, Structure Type, Material Type, Wall Construction, Order Type, Geography|
|Companies Mentioned||Westrock Company, AR Packaging Group AB, Sonoco Products Company, Huhtamaki Oyj, KapStone Paper and Packaging Corp, Mayr-MelnhofKarton AG, Stora Enso Oyj, Georgia-Pacific LLC, Rengo Co., Ltd., Oji Holdings Corporation|
Based on the end use, the food & beverage segment dominated the global folding cartons market accounting for a market share of around 36% in 2022. The increased adoption of the folding cartons among the food & beverage processing companies across the globe has fueled the growth of this segment. The rapidly growing demand for the food and beverages along with the growing global population and rising disposable income of the consumers is expected to further boost the usage of the folding cartons in the food & beverage industry. Moreover, the changing lifestyle of the consumers and growing demand for the convenient and packaged food is a major factor that has significantly driven the growth of this segment in the past years. The rising participation of the women in the workforce has significantly fueled the demand for the ready-to-eat food products, which is a significant driver of the folding cartons market.
On the other hand, the electronics and electrical is estimated to be the fastest-growing segment during the forecast period. This is attributed to the surging demand for the consumer electronics across the globe. The proliferation of technologies has encouraged the development of various electronic products across the globe. The rising demand for the latest advanced consumer electronics is driving the growth of the electronic products. The electronic manufacturers are increasingly adopting the folding cartons for the packaging of the electronic products. Moreover, the safety and security owing to the anti-counterfeit technology is fueling the demand for the folding cartons across the globe.
The personal care and cosmetics segment has been gaining rapid traction in the recent years. Folding cartons serves as a popular packaging material for the cosmetics and personal care products. The growing geriatric population and rising demand for cosmetics among the youth population is fueling the demand for the personal care products, which in turn fuels the growth of the folding cartons market.
Key Market Developments
The folding cartons market is moderately fragmented with the presence of several local companies. These market players are striving to gain higher market share by adopting strategies, such as investments, partnerships, and acquisitions & mergers. Companies are also spending on the development of improved products. Moreover, they are also focusing on maintaining competitive pricing.
Segments Covered in the Report
By Material Type
By Structure Type
By End Use
By Order Type
By Wall Construction
PROCEED TO BUY :
ASK FOR SAMPLE
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client