The global packaging industry is expected to grow during the forecast period because of its wide applications in industries like healthcare, food, drinks, cosmetics and consumer as well as industrial good industries. Chipboard folding cartons are used to provide attractive and unique packaging to the goods and also helps in protecting them from getting sagged.
Market Overview:
Chipboard folding cartons market is expected to grow at a high CAGR in the forecast period. Chipboard folding cartons are made up of paperboard and are used to protect a wide variety of consumer products which also provides safe transport and are also used to market goods to consumers. North America has the largest chipboard folding cartons market and is expected to grow because of the growing disposable income.
Market Dynamics:
The demand of chipboard folding cartons market is set to increase in the developing regions because of higher production and consumption in cosmetics, healthcare, food and beverages and other industries. The driving force for the folding cartons market is the demand for innovative packaging with great design and eco-friendly packaging so that its disposal will not be a problem. Other driving force for the chipboard folding cartons market is the increasing disposable income in the developing countries resulting in increasing the demand for well-packed products. Food and beverage companies are demanding for a variety of packaging products which helps in providing good quality products and product differentiation.
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The most important factor in growing the demand for chipboard folding cartons market is the increasing number of mergers and acquisitions which help small companies to grow and the chipboard folding cartons market is expected to have a positive outlook in future.
The biggest restraint of the chipboard folding carton market is the presence of several vendors which provide cheap alternatives and better packaging products resulting in increasing the competition among chipboard folding cartons manufacturers.