ASEAN FOLDING CARTONS MARKET ANALYSIS

Market Challenges And Opportunities

ASEAN Folding Cartons Market: Growth Drivers

Rise in demand for packaged and takeaway food products

Growing demand for packaged and takeaway food products across ASEAN countries is primarily fueling the market growth of folding cartons. Growth in the food & beverage industry due to increasing consumer spending on food products coupled with the rising consumption of processed food products are further expected to augment the market growth of folding cartons over the forecast timeframe. For instance, the Associated Chambers of Commerce and Industry of India (ASSOCHAM) with the support of the Ministry of Commerce & Industry, Government of India organized the “India-ASEAN Food, Beverages & Packaging Virtual Expo” from March 17-19, 2021. The Indian Business Community from the Food, Beverages & Packaging segments will connect with buyers and importers in the ASEAN Region.

International trading across the ASEAN region and subsequent expansion of business networks

An increase in international trading across the ASEAN region and subsequent expansion of business networks which has increased the distribution network is expected to drive the market growth of folding cartons. The growing need for bulk storage and transportation around the globe is also creating demand for folding cartons. Moreover, the increasing establishment of new warehouses due to growth in the manufacturing companies is further anticipated to fuel the market growth of the ASEAN folding cartons. For instance, according to invest India, National Investment Promotion & Facilitation Agency, Merchandise trade between India and ASEAN countries risen upto to US$ 110.40 Bn during the period 2021-22.

ASEAN Folding Cartons Market: Market Restraints

Availability of better and cheap packaging solutions

The availability of better and cheap packaging solutions such as flexible plastic packaging and rigid boxes which are also highly flexible is expected to hinder the market growth of folding cartons. A corrugated board is one of the most adaptable packaging materials. It is adaptable to practically any shape and can cover a broad range of objects, from little, fragile things to huge, heavy items. It can be made with excellent crush resistance, high-quality printing, or a reduced profile to save space. To give protective padding to sensitive objects without affecting print quality, the thinner corrugated board can be utilized as an alternative to folding cartons. One of the reasons corrugated packaging is so adaptable is because of the arc-shaped flutes.