Folding Carton Packaging Market Size

Folding Cartons Packaging Market Analysis

The Folding Carton Packaging Market size is estimated at USD 154.97 billion in 2024, and is expected to reach USD 192.02 billion by 2029, growing at a CAGR of 4.38% during the forecast period (2024-2029).

• Counterfeiting is a high-volume, high-profit business that causes the infringement of intellectual property rights, medicine legislation, and other criminal law aspects. Medicine counterfeiting (or falsification) presents a global risk that requires effective preventive responses. Falsification involves the knowing misrepresentation of a pharmaceutical product's characteristics and provenance and the deliberate avoidance of legally instituted regulatory processes. Even if they contain the right ingredients, medicines produced in unregulated circumstances are inherently hazardous.
• Owing to this, several market players are incorporating 2D matrix codes on folding carton packages for medicines. For instance, CCL Label Montreal designed a serialized folding carton packaging solution to achieve 100% electronic inspection of each folded carton's print quality. Each folding carton would be inspected and given an inspection status. A report would be generated at the final stage showing all accepted and rejected cartons' final results. The result would be a unique and real 100% electronic print inspection system designed for the folding carton industry. The critical element for this concept to succeed is to have a serialized identifier on each folding carton. Each folding carton generated will be forever unique, eventually propelling the demand for Folding Cartons.
• In March 2022, Van GenechtenPackaging developed a recyclable folding carton packaging for chocolate, PurePac, with an inside anti-grease barrier that eliminates the need for aluminum or plastic inner packaging. As for packaging design, Van GenechtenPackaging offers a range of finishing techniques, including low-migration inks, decorative varnishes, and embellishments like hot and cold foil and embossing. The company uses food-safe colors and varnishes for printing inside and outside packaging.
• With the outbreak of COVID-19, folding cartons faced slow growth due to lockdowns imposed by various countries that disrupted the supply chain. During the pandemic, the stockpiling from consumers' end reduced after the initial phases and was witnessed by grocery stores across the globe. This disappearing behavior of stockpiling also reduced the demand for folding carton manufacturers during the pandemic.
• However, as per available Indian government statistics, the cost of pulp has increased by over 25% in the last 12 months from March 2022. This was mainly due to higher-quality environmental standards after COVID-19 and the growing demand for paper-packaged products. Due to supply problems brought on by COVID-19-led lockdowns and international logistics disruptions, import and domestic waste paper costs rose. According to an industry expert, the unbleached pulp prices increased to over USD 900 and bleached pulp to around USD 1,300 a tonne, a sharp hike that paper mills found tough to handle. Also, Paper prices just went up 14% for the packaging industry, the first increase of 2022. This could hinder the market growth.