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The global folding carton packaging market was valued at USD 200.6 billion in 2024 and is estimated to grow at a CAGR of 5.9% to reach USD 352.1 billion by 2034. The growth of the market is attributed to factors such as rising demand from food & beverage industry and the shift towards sustainable packaging. packing box
The rising demand from food and beverage industry is one of the key growth drivers for folding carton packaging market. For instance, according to a Statista report, in 2023 the packaged food sector in India reached USD 2.8 billion and is projected to reach USD 6.4 billion by 2029. Consumers are shifting towards ready to eat meals, frozen foods, and convenience snacks, which requires protective and durable folding carton packaging. Moreover, manufactures are increasing adoption of paper-based folding cartons to meet the regulatory requirements and consumer’s demand.
The shift towards sustainable packaging is another significant growth driver for the folding carton packaging market. The ban on single usage plastic and government initiatives towards reusable packaging demands sustainable packaging solutions. Companies are investing in recyclable and bio-degradable packaging materials to align with government regulations. Moreover, the shift in consumer preference for sustainable packaging further fuels the demand for market.
This increasing preference of consumer for read-to-eat meat and frozen food is expected to create new opportunities for players. As they can focus on development of biodegradable, moisture resistant, temperature stable folding carton for frozen food applications. This will help them attract new customers and strengthen their product offering in the competitive market.
The rapid expansion of E-commerce pushes the demand for folding carton packaging solutions. With the rise in online shopping, the demand for reliable and secure packaging has surged. Folding cartons are preferred by companies as they offers lightweight and protective packaging while enhancing unboxing experience for consumers. Moreover, companies are integrating digital printing and smart label to enhance brand engagement while making the product visually appealing for the consumer.
The folding carton packaging industry based on the material is bifurcated into recycled paper, virgin paper, kraft paper, plastic & others.
The folding carton packaging market based on the application is categorized into food & beverages, household products, personal care & cosmetics, healthcare & pharmaceuticals, electronics, and others.
The North American region accounted for 30.1% of the global folding carton packaging market share in 2024. Sustainable and efficient packaging technologies are some of the main drivers of the market in North America. Governmental support on adoption of eco-friendly packaging material and ban on single usage plastics is promoting the adoption of kraft paper and recycled paper folding cartons.
The Europe region held 22.1% of the global folding carton packaging market share in 2024. The growth of Europe’s market stems from the heightened interest in sustainable packaging solutions coupled with the growing demand for high-end luxury products.
The Asia Pacific region held 35.3% of the global folding carton packaging market share in 2024. The Asia Pacific region, headed by China, Japan, and South Korea due to their robust food and beverage industry, is the largest market for the folding carton packaging. The growth is also propelled by the increasing need for sustainable packaging solutions alongside the fast growth of the e-commerce industry.
The Latin America region held 4.5% of the global folding carton packaging market share in 2024. The market in Latin America is fueled by initiatives such as increasing consumption of packaged food coupled with growing demand for sustainable packaging.
The MEA region held 8% of the global folding carton packaging market share in 2024. The folding carton packaging industry in the Middle East & Africa is boosting due to surging food and beverage industry coupled with government regulation for wastage reduction
The folding carton packaging industry is highly competitive and fragmented with the presence of established global players as well as local players and startups. The top 5 market leader in the global market are DS Smith, Georgia-Pacific, Graphic Packaging International, Huhtamaki, and Mayr-Melnhof Karton, collectively accounting for over 17% market share. Major key leaders of the market are investing in sustainable material and biodegradable packaging solutions to meet the government regulations and growing consumer preference towards sustainable packaging options. The next generation folding cartons are focusing towards the lightweight and biodegradable material to cater the growing demand for sustainability while ensuring secure packaging of the product. The adoption of smart manufacturing industry and sustainable packaging is fuelling the demand for the advanced folding carton solutions which can optimize the process ensuring maximum efficiency and enhanced waste management. NFC tags and smart labelling techniques are improving consumer engagement and reducing operational costs around several industries.
The folding carton packaging industry features several prominent players, including:
DS Smith Plc, a leader in folding carton packaging market focuses on sustainable packaging solutions and uses sustainable material. This company has presence over 37 countries and provide a large variety and integrated supply chain solutions.
Georgia-Pacific LLC, a close competitor operating in the same industry offers a diverse product range that are utilized across several industries such as food & beverage, consumer goods, and pharmaceuticals. The firm has a strong manufacturing capabilities with advanced infrastructure and focus on innovative packaging solutions.
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