Printed Cartons Marketto gain significant revenue by 2024
Food & beverage led the overall printed carton market as its biggest end-user in 2016. Printed cartons in food & beverages industry are essential on account of its usage in storage and handling of food & dairy products such as bakery food, frozen food, milk, yoghurt and all kinds of beverages. Printed cartons market for food & beverage is likely to witness maximum gains in the forecast timeframe as consumers are willing to spend on packaged food and beverages.
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Rapidly growing food & beverage industry will be a major growth propelling factor for printed cartons market in the coming years. Strong population base and rising per capita income of consumers coupled with augmented expenditure power in Asia Pacific countries, especially in India, China, Japan, Thailand, Malaysia and South Korea shall be driving food & beverage and personal care industry over next few years, which in turn, will be accelerating product demand substantially for the forecast period.
Printed cartons are extensively used in cosmetics and pharmaceutical products industry as it not only enhances brand value and provides cushioning to fragile products as well. The robust growth in personal care and cosmetics industry in Latin America and Asia Pacific shall play a vital role in fueling product demand in the coming years. New digital printing systems and practices have resulted in price rise for printed cartons, which may pose a threat to printed carton market growth in the forecast timespan.
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Asia Pacific for printed cartons market is likely to witness gains close to 6% over the forecast duration. Increasing food & beverage, cosmetics and electronics market due to amplified consumer spending coupled with changing lifestyle preferences, is likely to fuel product demand in the coming years in this region. Latin America is another important region which shall witness prominent gains due to developing electronics and food & beverage industry, particularly in Brazil and Mexico.
The printed cartons market is vast, scattered and highly competitive at each level. Major players operating in printed cartons industry are Tetra Pak International, Amcor, All Packaging Company, Lithoflex, Glossop Cartons and Parksons Packaging Limited. Other prominent players include TCPL Packaging Limited, Gulf Carton Factory Company, LGR Packaging and Orora Packaging Australia Pty Limited.
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