by Folding cartons provide rigidity and are lightweight for efficient packaging and transportation of food products. They help maintain the freshness of food by acting as excellent moisture and gas barriers.
The global ASEAN Folding Cartons Market is estimated to be valued at US$ 5.62 Bn in 2024 and is expected to exhibit a CAGR of 8.3% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand from the foodservice industry has been a major trend propelling the growth of the ASEAN folding cartons market. The on-the-go consumption culture and preference for takeaway food has grown significantly in the ASEAN region in recent years. Folding cartons have emerged as the packaging format of choice for takeaway food due to their lightweight and portable nature. They help maintain the quality and freshness of food items like pizzas, burgers, sandwiches during transit. The growing prominence of QSR chains and proliferation of cloud kitchens in the region has further augmented the demand for folding cartons from the foodservice sector.
SWOT Analysis
Strength: The ASEAN region has high demand for packaging solutions from the expanding e-commerce sector and food and beverages industry.
Weakness: Presence of local and unorganized players offering low cost alternatives.
Opportunity: Growing consumption of packaged food products due to changing lifestyles and rising disposable incomes in the region.
Threats: Stringent government regulations regarding usage of plastic and availability of alternative packaging materials.
Key Takeaways
The global ASEAN folding cartons market is expected to witness high growth.
Regional Analysis: The ASEAN region dominates the folding cartons market with countries like Indonesia, Thailand, Malaysia and Singapore being the major revenue generators. These countries collectively accounted for over 60% of the overall market share in 2024 owing to robust manufacturing sector and high demand from end use industries.
Key players operating in the ASEAN folding cartons market are International Paper Company, Westrock Company, Smurfit Kappa Group, Rengo Co. Ltd., CCL Industries and Mayr-Melnhof Karton. International Paper Company is the leading player in the ASEAN folding cartons market with strong presence across countries. Westrock Company and Smurfit Kappa Group are other major players focusing on enhancing their production capacity in the region through mergers and acquisitions.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
