Folding Cartons Market - Demand for SBS-based Folding Cartons to Continue at Robust Pace
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The ASEAN folding cartons market, as stated in the report, is expanding at a very healthy CAGR of 7.10% within a forecast period from 2016 to 2024. The market was valued at US$2.8 bn in 2016 and is likely to reach US$4.9 bn by the end of 2024.
Players Focus on Booming Indonesia Demand for Folding Cartons
From a regional perspective, the ASEAN folding cartons market has so far been dominated by the massive demand emanating from Indonesia. This region’s CAGR of 7.20% from 2016 to 2024 highlights its impact on the overall ASEAN market, and this growth rate is attributed to the region’s food and beverages industry. Over the coming years, Malaysia and Thailand are expected to prosper in terms of demand for folding cartons.
Pharma and Healthcare Usage of Folding Cartons Set to Rise
The food and beverages industry has shown a phenomenal increase in demand for folding cartons in the ASEAN region. SBS-based folding cartons are likely to gain favor over the course of this report’s forecast period. The overall demand for folding cartons in the ASEAN food and beverage industry can be witnessed in this application segment’s CAGR of 6.80% for the given forecast period. The utility of folding cartons is gaining a lot of traction owing to the increasing distribution and demand for fresh foods.
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“The demand for folding cartons is expected to witness a considerable boost over the coming years, thanks to the pharma and healthcare industry boom in the ASEAN region. As the population in the region grows at a swift pace, expenditure on healthcare increases proportionately and given the adequate development of the healthcare industry, the opportunity of using faster and more efficient manufacturing methods and materials for folding cartons opens up. Over the coming years, the impact of pharma and healthcare demand for folding cartons will become more and more visible,” states a TMR analyst.
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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