One of the primary causes of the expansion of paperboard folding cartons’ Embellishments is the global need for eco-friendly materials.
One of the key drivers of the growth of Folding Carton Embellishments has been the worldwide need for environmentally friendly materials.
As a consequence of rising demand from eco-conscious customers, the market for Paperboard Folding Carton embellishments is expected to reach $110 billion in 2019. This market is likely to develop steadily in the foreseeable future, particularly in growing markets like India and the United States.
- Market value exceeded $110 billion in 2019
Paperboard folding carton packaging demand will increase by 5.8% CAGR from $47.5 billion in 2019 to $110 billion in 2024. Increased e-commerce penetration and rising demand for intelligent gadgets will boost the industry.
As a result of these advancements, demand for folding cartons will rise, as they are necessary for product shipping. Here are five chances for development in the paperboard industry.
- The worldwide market for Paperboard folding cartons is divided into end-use segments, with the food and beverage industry accounting for the lion’s share.
- Rising demand for packaged foods, a growing population, and an increase in disposable income contribute to the expansion of this market.
- Consumers in the Middle East are rapidly adopting the convenience and cost-effectiveness of this packaging type. Therefore the demand for Paperboard folding cartons will continue to expand.
Consumers are increasingly requesting biodegradable packaging, and the folding carton sector is ideally positioned to meet this need. The sustainability movement has also impacted the packaging business, with biodegradable paperboard being a popular choice for many firms.
Paperboard folding cartons are also readily recyclable and often include a significant amount of recycled paper. The food and beverage category will continue to drive expansion in this sector, with cannabis and CBD products accounting for the remaining market share.
- High demand for eco-friendly materials
The sector’s expansion is being driven by the environmental movement and rising demand in developing markets. The market for environmentally friendly materials is predicted to reach 11 million tonnes, or more than $20 billion in value, by 2024. In 2018, Asia-Pacific accounted for 58% of the worldwide market, while North America and Western Europe had a less-than-1% dip. Over the following eight years, the remainder of the globe will see a modest drop.
The worldwide folding carton market will continue to develop as e-commerce and intelligent device penetration increase.
Furthermore, emerging technologies such as digital printing make ingenious package creation very cost-effective. As a result, businesses should seek out commercial printers to help them with their sustainability initiatives. This commitment, though, may be challenging to make. How will they be able to compete in the future with so many rivals in the market?
- Several firms are working to make packaging more environmentally friendly. Sappi, for example, has collaborated with Syntegon Technology, a British firm that creates packaging materials.
- The partnership’s purpose was to create packaging solutions for the confectionery sector out of recyclable paper-based materials in the UK paper waste stream.
- These collaborations would allow businesses to provide the most outstanding product while meeting the needs of customers, end-users, and the environment.
Increasing demand for ‘smart’ Paperboard cartons
Increasing e-commerce traffic, increased use of recyclable material, and developments in digital printing are all driving the worldwide folding carton industry. Because of the advancement of printed electronics, the creation of intelligent packaging is becoming more affordable.
Paper-based packaging, such as folding cartons, may, for example, have integrated intelligent sensors that allow items to be tracked. And these sensors are gaining traction among worldwide merchants and fast-food outlets.
- The food and beverage sector is the market leader in folding cartons. Consumers’ changing lifestyles, rising disposable income, and growing penetration of ready-to-eat food items are the primary drivers of worldwide market growth.
- However, owing to rising product costs, certain areas’ demand for folding cartons is projected to diminish. On the other hand, the Asia-Pacific area is predicted to restart growing by 2023.
- Several firms are working on new kinds of folding cartons with diverse functionalities. One such example is the Gallus Labelfire Carton Edition. It is a foldable carton with a side pocket for instructions that saves space and is secure. Solid whiteboard folding cartons, which are robust, are also being introduced by manufacturers. Although solid whiteboard folding cartons are costly, they are often used to pack books, electronics, and cosmetics.
When you need your boxes to appear their most refined, you should use folding cartons made of paperboard. These paperboard folding cartons are an excellent solution if you want a more beautiful appearance or greater protection for your items.
While classic paperboard is still widely used, other materials like cardboard and plastic are gaining popularity. For all of your paperboard folding carton needs, contact us.