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Folding Cartons Market - Lucrative Opportunities Across Globe

07-03-2018 11:59 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: TMR - Research Reports

Folding Cartons Market - Lucrative Opportunities Across Globe

The ASEAN folding cartons market has gained significant impetus from the robust growth of small- and medium-sized enterprises (SMEs) and various other industries in ASEAN countries over the last couple of years. Since there is a free trade agreement between the ASEAN countries, most of the small and large scale industries need packaging materials in large volume, consequently boosting the demand for folding cartons.

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The preference for folding cartons is anticipated to increase further, thanks to the cost benefits, these cartons provide during transportation and handling of products. The rising demand for packaged and takeaway food products is also projected to influence the market for folding carton in ASEAN countries. However, the availability of flexible plastic packaging materials and rigid boxes at comparatively low prices may limit the uptake of folding cartons to some extent over the forthcoming years, reflecting negatively on this market.

The opportunity in the ASEAN folding cartons market was worth US$2.8 bn in 2016. Rising at a CAGR of 7.10% between 2016 and 2024, the market is estimated to reach a value of US$4.9 bn by the end of 2024.

The industrial food and beverages, homecare products, personal care, pharma and healthcare, and tobacco sectors are the key end users of the folding cartons in the ASEAN market.

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Among these, the food and beverages industry has emerged as the leading end user of folding cartons and is expected to remain dominant over the next few years, rising at a CAGR of 6.80%. In the food and beverage sector, these cartons find a robust usage in the packaging of fresh food products.

Among other end users, the pharma and healthcare and the personal care industries are anticipated to witness a healthy rise in the adoption of folding cartons in the near future. The increasing middle-class population in ASEAN countries and the rising awareness pertaining to the beneficial properties of these cartons are likely to boost their uptake in these industries over the years to come.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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