Folding Carton Packaging Market was valued at USD 139.55 Billion in 2020 and is projected to reach USD 173.58 Billion by 2026, growing at a CAGR of 5.0% from 2020 to 2026.
The major players in the market are Amcor Limited, Huhtamaki Oyi, Sonoco Products Company, Rengo Co. Ltd, Stora Enso Oyi, Westrock Company, KapStone Paper and Packaging Corp., Georgia-Pacific LLC, Mayr-Melnhof Karton AG and AR Packaging Group AB.
Jones Healthcare Group, a market leader in advanced packaging and medication dispensing solutions, announcesd expanded bottling capabilities within its packaging services portfolio. The company’s investment in a new, fully integrated Uhlmann bottle line enhances its multi-level service offering across all package formats for healthcare clients.
Huhtamaki Focus towards healthier and more sustainable alternatives key trend driving development in ready meals is new, healthier options, as well as organic, vegan and gluten-free options. Ground breaking advancements in low carbon packaging are further optimizing products quality and shelf life. One such innovation is Huhtamaki Fresh, a recyclable and home compostable food tray, made from wood sourced from FSC certified and renewable Nordic forests. It is a natural alternative to black plastic ready meal trays. Solutions like Huhtamaki Fresh have an important role in shaping the sustainable future of everyday life.
In April 2020, Keystone Folding Box Company expanded its manufacturing capabilities with the introduction of a new die cutting and gluing equipment into its production facility. April 2020 - DS Smith PLC opened a new manufacturing plant in Lebanon. The plant is dedicated to producing corrugated packaging boxes. The 550,000 sq. ft. facility can produce 30,000 boxes/hour and 2 billion sq. ft. of recyclable packaging a year. This expansion increases the company’s manufacturing capabilities. May 2020 - Stora Enso OYJ signed a joint development agreement with Cordenka, to develop precursors for bio-based carbon fiber. The co-development is driven by the need for high performance carbon fiber in transportation, construction and power generation in food and health care market.
Based on Type, the market is segmented into Biopolymer, Paper and Paperboard, Plastics, and Others. Based on Application, the market is bifurcated into Personal Care, Healthcare, Food and Beverages, and Others. Based on regional analysis, the Global Folding Carton Packaging Market is classified into North America, Europe, Asia Pacific, and Rest of the world. Asia-Pacific is one of the fastest-growing regions. It has the highest share in the market, owing to the presence of densely populated countries, such as India and China, as well as the increasing prevalence of the pharmaceutical and healthcare market.