Global demand for folding carton packaging may reach $172 billion in 2026
Time：2022-06-16 From：
According to the latest market research data released by Smithers, the global folding carton packaging market will reach US$136.7 billion in 2021. As the market gradually recovers from the Covid-19 epidemic, the global demand for this market may reach US$172 billion in 2026.
The data shows that since 2010, the demand for cardboard packaging has been increasing. Affected by the Covid-19 epidemic, the growth rate of folding carton demand has slowed down, but the growth trend has not changed. The processing volume of folding cartons increased slightly from 48 million tons in 2019 to 48.3 million tons in 2020; it is expected to further increase to 61.58 million tons in 2026.
From 2019 to 2020, the output of paperboard only increased by 1.6%, and the growth rate of processing volume will be less than 1%. According to Smithers' latest price estimates, total paperboard sold (material sold to converters) is expected to reach $46.28 billion in 2021.
As the threat of the Covid-19 epidemic gradually weakens, the demand for folding carton packaging will increase by 2% in 2020-2021, and is expected to return to a compound annual growth rate (CAGR) of 4.6% by 2026. Mainly the Asian region has new demand for folding carton packaging, while North America and mature European market share will decline.
The COVID-19 pandemic has affected the consumption of folding carton packaging by end users to varying degrees. Soft drink sales have fallen the most over the past year, while demand for folding cartons for solid food packaging has grown well in 2020. Confectionery and solid food packaging are expected to have the highest medium-term consumption growth rates.
In this case, various factors will help to redefine the market demand for paperboard. For example, the focus on sustainable packaging, the continued growth of e-commerce, the widespread application of digital printing systems, the renewal of folding carton design forms, the increase in paperboard production capacity, etc.