LONDON–(BUSINESS WIRE)–#foldingcarton–The folding carton market size is expected to post a CAGR of over 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Digital printing is likely to gain traction in the folding carton market owing to the need for fast turnaround and personalized packaging from various brands. Several retailers, brands, and their supply chain partners are experiencing a rise in demand for folding cartons with appealing graphics to attract consumers. Moreover, the availability of various types of digital carton presses is also increasing the use of digital printing technology. Thus, with the rise in demand for digitally printed folding cartons, there will be a simultaneous increase in market growth for folding cartons during the forecast period.
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As per Technavio, the growing popularity of smart folding cartons will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Folding Carton Market: Growing Popularity of Smart Folding Cartons
The smart folding carton market is growing owing to the rise in the need for sophisticated packaging in applications such as medical monitoring. Also, advances in the printed electronics technology are making the development of smart packaging economical. In addition, smart folding cartons features the advantage of enabling vendors to track the package throughout the delivery process, as they provide customers with product information using QR codes or feature individualized design and messages for customers. The incorporation of several technologies such as QR codes, NFC, RFID, and embedded barcodes will help in gaining customer trust through improved customer experiences. Thus, the rise in popularity of smart folding cartons is likely to boost the market during the forecast period.
“Other factors such as the increase in the need for recyclable and sustainable packaging, growth in the e-commerce sector, and the adoption of eco-friendly materials for manufacturing folding cartons will have a significant impact on the growth of the folding carton market value during the forecast period,” says a senior analyst at Technavio.
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Folding Carton Market: Segmentation Analysis
This market research report segments the folding carton market by end-user (food and beverage, personal care and household, healthcare, other end-users) and geographical regions (APAC, North America, Europe, MEA, South America).
The APAC region led the folding carton market in 2018, followed by North America, Europe, MEA, and South America respectively. The growth of the folding carton market share in APAC can be attributed to factors such as the thriving e-commerce market, increase in consumption of various products such as food products and personal care and consumer goods, and rise in use of novel technologies.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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