N.A. Folding Carton Market to Grow at 2.09% CAGR by 2020
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Research and Markets, Dublin, Ireland, announced the addition of the Folding Carton Market in North America 2016-2020 report to their offering earlier this week (May 23). In the new report, folding carton market in North America is expected to grow at a CAGR of 2.09%, in close agreement with other recently released market reports, during the forecast period 2016-2020.
According to Research and Markets, Folding Carton Market in North America 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the present scenario and the growth prospects of the folding carton market in North America for the forecast period.
An emerging trend identified in this report, which will have a big impact on the market, is the popularity of retail ready packaging (RRP) and multipack cartons. An increasing number of manufacturers and retailers are opting for retail-ready packaging. Products in RRPs can be directly placed on shelves for sale. They are also easily identified, opened, and disposed.
Retailers are demanding these retail-ready folding cartons to minimize their display costs. RRPs are often available in microflute systems. In addition, manufacturers of various consumer products are demanding multi-pack folding cartons as they help in multi-branding and reducing costs.
According to the report, a key market driver is the increase in production capacity. The production capacity of vendors can be measured in terms of production in tons. The market will experience a rapid increase in production capacity as vendors are adopting advanced methods of production.
Many vendors like WestRock, Georgia-Pacific, and Pratt are increasing their production capacity through the development of new production plants or the acquisition of existing players. The increase in capacity will allow vendors to meet demand for cartons and containerboard and also reach out to the emerging markets.
Further, the report states that one challenge that could have an adverse impact on market growth is the rise in cost of raw materials.
Key vendors identified include:
- All Packaging
- Bell
- Graphic Packaging
- Mayr-Melnhof Karton
- Smurfit Kappa
- WestRock.
