LONDON--(BUSINESS WIRE)--The global folding carton market is expected to post a CAGR of over 5% during the period 2019-2023, according to the latest market research report by Technavio.
Digital printing is likely to gain traction in the folding carton market owing to the need for fast turnaround and personalized packaging from various brands. Several retailers, brands, and their supply chain partners are experiencing a rise in demand for folding cartons with appealing graphics to grab consumers' attention. Some of the companies are focusing on offering digital printing technology for the packaging market. The availability of various types of digital carton presses has further helped in the creative use of digital printing technology to serve customers' needs. Thus, with the rise in demand for digitally printed folding cartons, there will be a simultaneous increase in market growth for folding cartons during the forecast period.
As per Technavio, the growing popularity of smart folding cartons will have a positive impact on the market and contribute to its growth over the forecast period. This global folding carton market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global folding carton market: Growing popularity of smart folding cartons
Advances in the printed electronics technology are making the development of smart packaging economical, by reducing the prohibitive costs associated with this technology. The smart folding carton market is growing owing to the rise in the need for sophisticated packaging in applications such as medical monitoring. Smart folding cartons can be tracked during the entire delivery process, as they provide customers with product information using QR codes or feature individualized design and messages for customers. The incorporation of several technologies such as QR codes, NFC, RFID, and embedded barcodes will help in gaining customer trust through improved customer experiences. The rise in popularity of smart folding cartons is likely to boost the market during the forecast period.
“Apart from the growing popularity of smart folding cartons, the increase in the need for recyclable and sustainable packaging, growth in the e-commerce sector, and the adoption of eco-friendly materials for manufacturing folding cartons are some other major factors boosting the growth of the global market,” says a senior analyst at Technavio.
Global folding carton market: Segmentation analysis
This market research report segments the global folding carton market by end-user (food and beverage, personal care and household, healthcare, other end-users) and geographical regions (APAC, North America, Europe, MEA, South America).
The APAC region led the market in 2018 with a market share of over 45%, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to continue dominating as well as register the highest incremental growth.
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Market Landscape
- Market ecosystem
- Market characteristics
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Market Sizing
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- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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