June 15, 2020 - The global market for folding cartons will be $136.7 billion in 2021, and as the market recovers from COVID-19 disruption global demand will reach $172.0 billion in 2026, according to a new market data study from Smithers.
The Future of Folding Cartons to 2026 shows that the COVID-19 pandemic slowed, but did not reverse the rising demand for more cartonboard packaging witnessed across the 2010s. Converted carton volumes rose marginally from 48.00 million tonnes in 2019 to 48.30 million tonnes in 2020; and are forecast to rise further to 61.58 million tonnes in 2026.
Production volumes rose by just 1.6% in 2019-2020 and conversion volumes increased by less than 1% during the year. Total cartonboard production — materials sold to converters — will be a projected $46.28 billion in 2021, based on Smithers' latest price estimations.
As the threat of the pandemic recedes folding carton packs will increase by 2% for 2020-2021, before recovering to a 4.6% compound annual growth rate (CAGR) through to 2026. The demand for new volumes will be led by Asia, while the North American and mature European markets will see some loss of market share.
The pandemic has affected end-user consumption of folding carton packaging in varying degrees with different sectors exhibiting a range of recovery rates. Soft drinks volumes have seen the greatest decline in the past year, while for dry foods folding cartons enjoyed good growth in 2020. Medium term consumption is expected to show the highest growth rates in the confectionery and dry foods sectors.
As this happens multiple drivers will help redefine the market proposition for cartonboard:
Published June 15, 2021, The Future of Folding Cartons to 2026 examines the immediate post-COVID and future market in unprecedented detail. Comprehensive historical and forecast data is given for cartonboard and converted folding cartons, by value and volume — presented in over 300 data tables and figures.
This is segmented by board grade, end-use application, geographic and national market; including data on major mill and converter market shares, to produce an authoritative business forecasting tool as the industry enters the 2020s.
For further information about the study is available on Smithers website: The Future of Folding Cartons to 2026
Founded in 1925 and headquartered in Akron, Ohio (USA), Smithers is a multinational provider of testing, consulting, information, and compliance services. For further information, visit: www.smithers.com.
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