According to a new research study published by Global Market Insights Inc., the Printed cartons market size is expected to exceed USD 490 billion by the end of 2027. The growing trends for eco-friendly packaging that is easy to reuse and recycle will boost the product demand.
Printed cartons are small, light box or containers used by various industries for packaging. The aforementioned trends are anticipated to trigger the food packaging demand, which will help attain a positive outlook to the overall printed cartons market share over the forecast timeframe. The industry will also face challenges from the ongoing COVID-19 pandemic over the forecast time period. This may be due to the sudden halt in non-durable and durable goods manufacturing activities across the globe. This has impacted the pricing of printed cartons in many parts of the world due to the declining demand from many end-use industries.
Printed cartons packaging is lighter in weight and can be recycled easily as compared to other packaging options such as plastics. This trend is likely to drive printed cartons market size in the next six years. Furthermore, the rising global cosmetics market as well as high growth in the e-commerce sector is fueling the printed cartons demand.
Increasing consumer electronics demand to support segment growth
The hardware and electronics industry held around 15% share in 2020, and it is mainly attributed to the growing product usage in electronic components packaging from consumer to industrial electronics. The increasing trade of electronics & electronic components coupled with the presence of a huge electronic infrastructure is one of the major factors attributing to the growth of printed cartons market throughout the assessment period.
The advanced versions of products will rise the demand for the electronics market over the projected period of time. With the rising demand for electronic products, its packaging will also rise that will have a positive impact on the industry.
Browse key industry insights spread across 230 pages with 182 market data tables & 39 figures & charts from the report, “Printed Cartons Market Size By Material (Paper Board, Corrugated Board, Kraft Board, Coated Paper, Liquid Board), By Disposal Method (Combustion, Landfilled, Recycled), By End-user (Food & Beverage, Hardware & Electronics, Homecare, Healthcare, Cosmetics & Personal Care) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
The combustion segment will witness over 2.5% CAGR in printed cartons market volume. Combustible printed cartons are used for materials not suitable for recycling. These undergo thermal treatment in waste incineration furnaces or plants. The heat released in the process is used to heat buildings and generate electricity. Printed cartons that are contaminated with organic pollutants undergo separate thermal treatment (hazardous waste incineration plants). Printed carton incinerators must have a flue gas treatment system to reduce the amount of emitted pollutants under clean-air regulations.
Based on material, the paperboard segment is expected to generate over USD 110 billion by 2027. The paperboard printed cartoons demand is driven by the rising sustainable packaging industry and increasing demand for the product in the packaged food industry. Paperboard held the largest share in the sustainable packaging industry and is expected to be fastest-growing segment in the next few years.
Asia Pacific holds over 40% share in printed cartons market. Growing population, increasing disposable income, and rising demand for packaged food will drive the industry growth. Due to hectic lifestyles and time constraints, consumers in the Asia Pacific region are inclining toward packaged food. Strong upward growth trajectory associated with e-commerce will positively influence the demand for corrugated boards within Asia Pacific.
Some of the major manufacturers in printed cartons industry are Nippon Paper Industries Co., Ltd., Tetra Pak International S.A., WestRock Company, International Paper, Mondi PLC, Smurfit Kappa Group and Amcor Limited among others.