Exclusive new data from Smithers shows that in 2021, the global value of the folding carton packaging market will reach $136.7bn; with a total of 49.27m tonnes consumed worldwide.
Analysis from the forthcoming report 'The Future of Folding Cartons to 2026' indicates that this is the beginning of a rebound from the market slowdown in 2020, as the COVID-19 pandemic had a profound impact, both human and economic. As a degree of normalcy is returning to consumer and commercial activity, Smithers forecasts a future compound annual growth rate of (CAGR) 4.7% through to 2026, pushing market value to $172.0bn in that year. The volume consumption will largely follow this with a mean CAGR of 4.6% for 2021-2026 across the 30 national and regional markets the study tracks, with production volumes reaching 61.58m tonnes in 2026.
Food packaging represent the largest end-use market for folding cartons, accounting for 46.3% of the market by value in 2021. It is forecast to see a marginal increase in market share over the next five years. The fastest growth will come from chilled, preserved, and dry foods; as well as confectionery and baby food. In many of these applications folding carton formats will benefit from the adoption of more sustainability targets in packaging- with many major FMGC manufacturers committing to tougher environmental commitments through to 2025 or 2030.
One space Where there is room for diversification is in developing carton board alternatives to traditional secondary plastic formats such a six-pack holders or shrink wraps for canned beverages.
Eureka equipments can process the following material in the production of folding cartons: