The Global Folding Carton Market is valued to reach USD 12.83 Million by 2023, growing at CAGR 5.01% over the forecast period 2020–2026. Increasing purchase volume of packaged food products, rising availability of products with a long shelf life coupled with growing demand and popularity for packaged & takeaway food items are the factors driving the market.
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Consumer liking for traditional, trusted and eco-friendly nature of cartons are essential components for the growth of market in the forecast span. Cartons create a huge impact and enables a visual interest via surface design, shape and color. Additionally, carton prototypes are produced with the lowest turnaround time as the setup costs are low. Carton manufacturing and packaging machinery is a highly established industry. Cost effective manufacturing and packaging can efficiently handle small and medium sized inventories. The major benefits of carton packaging includes damage protection, increased shelf-life of inner contents and moisture prevention. In addition, the carton industry is adopting innovative practices to ensure maximum protection and coverage to the package.
Automation is gaining a huge traction in the carton industry involving various tasks such as automatic folding sequence generation, motion planning and robotics, automated folding fixture design and an efficient layout of carton blanks. Scientifically, a folding carton enjoys a high degree of freedom than the robots used.
Product preservation and protection mainly depends on the product followed by methods of packing and distribution. Protection mainly infers prevention of moisture and external damage whereas preservation calls for high maintenance and integrity of the product. This is in line with non-food products and direct contact within the proximity of cartonboard. Folding cartons create a high impact on visual interest and surface design. Surface design can be achieved in a number of ways such as use of illustration, text and a glossy matt surface finish by printing and varnishing. Embossing and hot foil techniques may be carried during cutting and creasing. On the other hand, windowed cartons are designed with internal platforms with an objective to display the product. Cartons are packed in pre-glued and are further used in packaging process.
Folding Carton Market Trends, Drivers and Opportunities:
Folding carton market is highly driven by the rise in use of digital technology for consumer packaging and growing demand for digitally printed cartons. In addition, the demand for folding cartons for medical packaging is gaining a huge traction in the forthcoming years. Moreover, use of barcodes, RFID and QR codes for packaging enables user-friendly interaction and enhances customer experience. Technological advances have enabled in lessening the production costs for folding carton as followed by increasing popularity. Paradigm shift in transportation is instrumental in determining the demand for folding carton. Therefore, the market is expected to witness a high growth in the forthcoming years. However, sensitive nature and low resistance to fire somehow constricts the market growth in the forecast period.