Increasing Consumption Of Packaged Food Fuelling Folding Cartons Market
Tuesday, December 12th, 2017 | 738 Views
The opportunities in the folding cartons market is forecast to reach US$57.6 billion by the end of 2017, according to a report by market intelligence company Transparency Market Research.
The report revealed that the demand in the global folding cartons market will grow at a compound annual growth rate (CAGR) of 4.7 percent during the forecast period of 2017 to 2025.
In terms of volume, the consumption of folding cartons is expected to be pegged at 29 million tonnes by 2025. With the increasing number of sales channels of consumer goods, more companies are entering into the global folding cartons market.
Among the key end users, food and beverage is expected to lead holding more than 50 percent market share over the forecast period.
On the basis of received order type, the customised order segment is anticipated to display a CAGR of 5.1 percent over the forecast period, and account for leading opportunity in global folding cartons market. Geography-wise, Asia Pacific is anticipated to emerge as a lucrative market, holding 46.7 percent of the overall market by 2025.
Majorly fuelling the global folding cartons market is the increasing consumption of packaged food and beverages. Additionally, increasing consumption of bakery products and ready to eat meals is accentuating demand for folding cartons. Hectic lifestyles and increasing number of women in the workforce have been reasons for increasing consumption of packaged food and beverages.
Packaged food manufacturers are increasingly using rigid packaging which is appealing to consumers and is less likely to get damaged during transportation. This is fuelling demand for sustainable packaging solutions such as folding cartons.