Global Folding Carton Market 2019-2023
About this market
Growing popularity of smart folding cartons to drive market growth. 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 medicine monitoring. Smart folding cartons play a major role in interacting with the end-customers and consumers. Some Technavio’s analysts have predicted that the folding carton market will register a CAGR of more than 5% by 2023.
Rise in demand for digitally printed folding cartons
Digital printing is likely to gain traction in the folding carton market owing to the demand for fast turnaround and personalized packaging from various brands. Various 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.
Rise in occurrences of contamination from recycled paperboard
Paper and paperboard must be recycled for further use to limit the resultant waste and landfill. Recycling of materials helps in reducing emissions and minimizing the use of resources. However, recycled paper and paperboards can have a negative impact on the products that are packaged.
For the detailed list of factors that will drive and challenge the growth of the folding carton market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Techman-Head Group and Brackett Aircraft Company the competitive environment is quite intense. Factors such as the growing popularity of smart folding cartons and the rise in demand for digitally printed folding cartons, will provide considerable growth opportunities to folding carton manufactures. Graphic Packaging International, Huhtamaki, Mayr-Melnhof Karton, Smurfit Kappa, and WestRock are some of the major companies covered in this report.
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