Folding cartons are boxes made from corrugated fiberboard and an ideal fit for packaging solutions. These boxes are a favorite of major conglomerates due to their low manufacturing cost. They are also recyclable and comply with regulations set by various agencies globally. Due to being of printable nature, corporations use it to create innovative designs with targeted messages to attract consumers.
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Compact Designs For Everyday Users
Major end users of folding cartons include healthcare, food, personal and household care, and others.
The healthcare segment can contribute to market demand due to changing designs of packages. Demand for policy-compliant and smart packaging for medicines and vaccines can drive segment revenue in the forthcoming years. The Smart X tablet wallet is a foldable board which can store medicines in blister and has ample space for promoting the consumer brand.
The food segment is projected to show signs of growth due to various shapes and sizes of folding cartons required in the U.S. and Europe. Demand for frozen or dry foods in developed economies coupled with expendable incomes of consumers can spur segment demand in the forthcoming years. In 2017, PaperWorks Industries, Inc., a U.S. company, launched coated recycled board-derived folding cartons which can be used to store frozen and refrigerated foods and beverages.
The global folding carton market is anticipated to exhibit a 4.84% CAGR from 2017 to 2021 (forecast period) due to increasing demand in the healthcare sector. Rising demand for dry and frozen foods in developing economies can propel market growth during the forecast period. Rise in production of premium cartons can be a new trendsetter in the market in the forthcoming years. Consumer awareness regarding eco-friendly packaging solutions can provide new growth opportunities. Prominent market players include Graphic Packaging International, Inc.; The Smurfit Kappa Group plc; WestRock Company; and Sonoco Products Company.