(MENAFN- PR Newswire)
NEW YORK, Aug. 13, 2024 /PRNewswire/ -- The global
printed carton market
size is estimated to grow by USD 21.5 billion from 2024-2028, according to Technavio. The market is estimated to grow at a
CAGR of 2.15% during the forecast period. Growth in organized retail is driving market growth, with a trend towards rising number of eco-friendly inks. However, regulations pertaining to use of printed cartons poses a challenge. Key market players include All Packaging Co.,
Amcor Plc, Ariba and Co., DS Smith Plc, Guangzhou Yifeng Printing and Packaging Co. Ltd., Huhtamaki Oyj, International Paper Co., Lithoflex Inc., Mondi Plc, Nippon Paper Industries Co. Ltd., Pactiv Evergreen Inc., Quad Graphics Inc., Refresco Group BV, Rengo Co. Ltd., Seaboard Folding Box Co. Inc., SIG Group AG, Smurfit Kappa Group, Tetra Laval SA, WestRock Co., and Winston Packaging.
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Technavio has announced its latest market research report titled Global printed carton market 2024-2028
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| Printed Carton Market Scope |
| Report Coverage |
Details |
| Base year |
2023 |
| Historic period |
2018 - 2022 |
| Forecast period |
2024-2028 |
| Growth momentum & CAGR |
Accelerate at a CAGR of 2.15% |
| Market growth 2024-2028 |
USD 21.5 billion |
| Market structure |
Fragmented |
| YoY growth 2022-2023 (%) |
2.03 |
| Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
| Performing market contribution |
APAC at 43% |
| Key countries |
US, China, Germany, India, and UK |
| Key companies profiled |
All Packaging Co., Amcor Plc, Ariba and Co., DS Smith Plc, Guangzhou Yifeng Printing and Packaging Co. Ltd., Huhtamaki Oyj, International Paper Co., Lithoflex Inc., Mondi Plc, Nippon Paper Industries Co. Ltd., Pactiv Evergreen Inc., Quad Graphics Inc., Refresco Group BV, Rengo Co. Ltd., Seaboard Folding Box Co. Inc., SIG Group AG, Smurfit Kappa Group, Tetra Laval SA, WestRock Co., and Winston Packaging |
Market Driver
Packaging companies prioritize the production of eco-friendly cartons with reduced carbon footprints and enhanced resistance to chemicals. The use of eco-friendly inks and advanced printing technologies is gaining popularity in the market. Regulatory bodies in countries like the UK, Germany, and the US are implementing environmental regulations and policies, influencing the printing ink industry. In Europe, biodegradable and compostable packaging require EN 13432 certification. The demand for biodegradable and vegetable oil-based inks is increasing, as they reduce mineral oil usage, conserve non-renewable resources, and decrease VOC emissions. Manufacturers invest significantly to develop vegetable oil-based ink variants for various printing processes, including digital and lithographic. The growing preference for sustainable products will fuel the expansion of the global printed carton market.
The Printed Carton Market is experiencing significant growth, particularly in sectors like sustainability, packaging for pharmaceuticals, personal care, bulk chemicals, and more. With increasing consumer focus on reducing wastes and minimizing landfill activities, the demand for recyclable packaging is on the rise. Sustainability is a key trend, with companies using natural supplies like paperboard, corrugated board, and kraft board to produce eco-friendly cartons. Operational costs are also a concern, making efficiency in production essential. Raw materials, such as recycled paperboard, are becoming increasingly important. Beverages, foods, healthcare products, household essentials, cosmetics, electronics, and various materials are major applications for printed cartons. The population base in developing countries is expanding, boosting demand for packaged goods in sectors like soups, spices, and other consumer staples.
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Market
Challenges
Printed carton manufacturing involves strict adherence to various regulations and standards to ensure product quality and safety. The British Retail Consortium (BRC) and Institute of Packaging (IoP) have established the BRC/IoP Global Standards for Packaging and Packaging Materials, which certify companies that meet these standards. Good Manufacturing Practice (GMP) programs ensure compliance with regulations for food contact materials, as required by the US FDA and EU Commission. The American Society for Testing and Materials (ASTM) enforces standards for testing paper and packaging materials. The Food Safety and Standards Authority of India mandates food-grade, contaminant-free materials for food contact cartons. Forest Stewardship Council (FSC) certification is necessary for paper-based cartons. Compliance with these regulations adds time, effort, and financial resources, potentially hindering market growth.
The Printed Carton Market faces several challenges in various sectors like Food, Healthcare Products, Household Essentials, Cosmetics, Electronics, and Materials. These sectors require cartons for Packaged Foods such as soups, spices, and dairy products, demanding aseptic value and product availability. Rigidity and tangibility are crucial for Household Essentials and Cosmetics. Electronics need cartons with moisture resistance and shock resistance. Environmental concerns bring challenges with disposal methods, as Combustion and Landfilling are not eco-friendly. Recycled paperboard, corrugated board, kraft board, and liquid board are preferred. Sustainability is a key trend, with consumers favoring environment-friendly cartons. Printing technologies like Flexography, Lithography, and Digital are used for identification and branding. Cost and setup costs, including initial investments in containerboard and printing facilities, are significant challenges. Paper Board, Coated Paper, and substrates are essential for printing, with various printing technologies used. Overall, the processed food industry's rising disposable income and changing dietary preferences are driving growth in the Printed Carton Market.
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Segment Overview
This printed carton market report extensively covers market segmentation by
End-user
1.1 Food and beverage
1.2 Personal care and household
1.3 Healthcare
1.4 Others
Product
2.1 Corrugated carton
2.2 Folding carton
Geography
3.1 APAC
3.2 North America
3.3 Europe
3.4 South America
3.5 Middle East and Africa
1.1 Food and beverage- The Printed Carton Market is experiencing steady growth due to increasing demand from various industries, particularly food and beverage. Companies are shifting towards sustainable and eco-friendly packaging solutions, providing an opportunity for printed carton manufacturers. Advanced technologies like digital printing and 3D design are enhancing the market, offering customized and innovative packaging solutions. This trend is expected to continue, making the Printed Carton Market an attractive investment for businesses.
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Learn and explore more about Technavio's in-depth research reports
The global folding carton market is experiencing robust growth, driven by increased consumer demand for sustainable and cost-effective packaging solutions. Valued at approximately $350 billion in 2023, the market is projected to expand at a CAGR of 4.5% through 2030. Key drivers include the rise in e-commerce, stringent environmental regulations favoring recyclable materials, and innovations in carton design. Leading players such as WestRock, Smurfit Kappa, and International Paper are focusing on enhancing product functionality and sustainability to capture market share in this evolving sector.
Research Analysis
The Printed Carton Market encompasses a wide range of industries, including foods, healthcare products, household essentials, cosmetics, electronics, and materials. Cartons made from paperboard, corrugated board, kraft board, and liquid board are commonly used for packaging these products. The market is increasingly shifting towards environmentally-friendly and recycled options, making sustainability a key trend. Packaged food items, such as soups and spices, are major consumers of printed cartons. In the electronics sector, cartons protect sensitive components during transportation.
Market Research Overview
The Printed Carton Market encompasses various industries, including food, healthcare products, household essentials, cosmetics, electronics, materials, and more. Food applications span packaged food, soups, spices, and dairy products, with an emphasis on aseptic value, product availability, and consumer convenience. Healthcare and personal care sectors prioritize rigidity, tangibility, and sustainability for their carton packaging needs. Paperboard, corrugated board, kraft board, and liquid board are common substrates used in carton manufacturing. Environmentally-friendly and recycled options are increasingly popular, aligning with consumer lifestyles and reducing overall processed food consumption.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
End-user
Food And Beverage
Personal Care And Household
Healthcare
Others
Product
Corrugated Carton
Folding Carton
Geography
APAC
North America
Europe
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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