|December 16, 2015|
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Folding Carton Market in North America 2015-2019
According to a new research report by Research and Markets, Dublin, Ireland, the Folding Carton market in North America is projected to grow at a CAGR of 4.23% over the period 2014-2019.
The report covers the present scenario and the growth prospects of the Folding Carton market in North America for the period 2015-2019. To calculate the market size, this report considered revenue generated by vendors from the sale of folding cartons. It includes prominent paper vendors that provide folding carton packaging solutions.
Innovations in technology is a major trend emerging in the market. Technologies such as barrier coatings, QR codes, and holographic images are being used to develop improved folding cartons. Vendors are continuously investing in R&D to create product differentiation in the market.
According to the report, one of the main drivers of this market is an increase in demand for packaged food and beverages, which is the result of the rise in population in many parts of the world and an increase in disposable incomes. Packaged food and beverage companies are now demanding a wider variety of folding cartons in unique designs that meet product requirements and help in product differentiation.
Furthermore, the report states that one major challenge in this market is increased competition from plastic-based packaging products, which can offer more features than folding cartons to consumer-product manufacturers. Flexible plastic-based packaging is gaining popularity, especially in the Food and Beverage Manufacturers segment. Plastic-based bottle packaging and flexible packaging products are increasingly cutting into the market share of folding cartons. However, plastic presents more of a sustainability issue. With more consumers becoming environmentally conscious, paper-based products may be able to maintain an edge by promoting their materials as safer for the environment with much faster and relatively harmless biodegradability compared with plastics.
According to a research study released earlier by Smithers Pira, the folding cartons market was growing at a slightly more robust 5.10% CAGR which the group expected to reach $184 billion by 2018. According to the Smithers Pira report, the personal care market has shown a rapid recovery from the global recession and growth is being stimulated by the use of technology in the form of social media, mobile commerce, and in-store digital technologies, targeting the tech-savvy young consumer, a demographic known to prefer sustainable packaging most affordably available in paper-based products. Eco-friendly brands in this area are noted as gaining prominence.
According to Smithers Pira, globally, cartonboard production grew by 1.3% in 2012 to reach a total of 42.5 million tons, valued at $37.3 billion, with more than half of this volume located in the Asia-Pacific sector. Total volume of converted folding carton grew by over 1% to reach 47.4 million tons in 2012, with 55% of this emanating in the Asia-Pacific sector.
According to Research and Markets new report, the following are the most prominent end-users of folding cartons:
Key Paper-based Vendors:
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