ASEAN Folding Cartons Market By Coherent market insights

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2. ASEAN FOLDING CARTONS MARKET ANALYSIS ASEAN Folding Cartons Market, By Material type (Solid Bleached Sulfate (SBS), Coated Unbleached Kraft (CUK), Coated Recycled Board (CRB), Uncoated kraft Boxboard (UKB)), By Order Type (Standard, Customized), By End-use (Food & Beverages (Frozen & Chilled food products, Fresh food products, Bakery & Confectionary, Ready to eat food products, Beverages, Others), Homecare Products, Personal care products, Pharma and Healthcare products, Tobacco Products, Industrial Products, Others), and By Region (Thailand, Myanmar, Indonesia, Malaysia, Vietnam, Philippines, Rest of ASEAN) - Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027 • Definition of Market/Industry: • Folding cartons are popular packaging materials that are used to package bulk materials. They are widely used in the retail packaging industry. They provide safety and easy handling of the product during transportation. They are produced from paper boards that are cut, laminated, folded, and glued into a box shape.

3. Statistics: • The ASEAN Folding Cartons market was estimated to account for US$ 3,541 Mn in terms of value and 1,836.3 kilo tons in terms of volume by the end of 2019. • Drivers: • Driver 1 • Growing demand for packaged and takeaway food products across ASEAN countries is primarily fueling the market growth of the 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. • Driver 2 • 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 storing and transportation around the globe is also creating demand for folding cartons. Moreover, 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.  • Statistics: • Indonesia dominated the ASEAN Folding Cartons market in 2019, accounting for 32.2% share in terms of value, followed by Thailand and Malaysia, respectively.

4. Figure 1. ASEAN Folding Cartons Market, Revenue Share (%), By Country, 2019

5. Market Restraints: • Restraint 1 • The availability of better and cheap packaging solutions such as flexible plastic packaging and rigid boxes and are also highly flexible is expected to hinder the market growth of folding cartons. • Restraint 2 • Fluctuation in the price of wood pulp due to the demand-supply gap is expected to restrict the adoption of folding cartons. This factor is expected to hinder the market growth of folding cartons.

7. Market Opportunities: Figure 2. ASEAN Folding Cartons Market – Opportunity Analysis Opportunity 1 Growing demand for printed and laminated cartons with graphics and labels across the food & beverage industry is expected to serve major growth opportunities to the market. Rising preferences towards convenience and aesthetic packaging materials for branding and advertising purpose is again expected to fuel the market growth. Moreover, the growing popularity of eco-friendly solutions due to the growing need for sustainable packaging is further expected to propel the market growth. Opportunity 2 Increasing use of anti-counterfeit technologies such as embedded barcode and RFID on the folding cart owing to its superior rigidity and printability is projected to offer immense market opportunities. Increasing ban on the use of single-use plastic for packaging coupled with the growth in the electronic and electrical industry is further expected to augment the market growth of the ASEAN folding cartons over the forecast period.

8. Figure 3. ASEAN Folding Cartons Market, Revenue Share (%), By End-use, in 2019

9. By end-use, ASEAN Folding Cartons market is dominated by food & beverage segment, which was valued at US 1,379.4 Mn in 2019 and is forecast to reach a value of US$ 2,169.5 by 2027 at a CAGR of 5.6% between 2020 and 2027.  • Market Trends/Key Takeaways: • Trend 1 • The single-serving pack is one of the growing trends in the market due to the tendency to opt for a trial pack before buying the large pack for daily use is expected to augment the market growth. Increasing adoption of folding cartons by healthcare and pharma companies for shipping medicine and medical product is the ASEAN region is further expected to foster market growth. • Trend 2 • A growing number of the working population is driving demand for cosmetics and personal care products due to the growing fashion trend. This is expanding the cosmetic and personal care industry thereby fueling the market growth of ASEAN

10. folding cartons. Increasing disposable income is driving demand for various consumers’ products around the globe which is further expected to propel the market growth of the ASEAN folding cartons over the forecast period. ASEAN Folding Cartons Market - Impact of Coronavirus (Covid-19) Pandemic The COVID-19 pandemic has affected all the industries including automotive, chemicals, logistics, and oil & gas among others. It has a severe impact on packaging industry as well. Measures such as lockdown, and cease in the economic activities has reduced the discretionary spending of a consumer, which has in turn impacted the sales of luxury goods, chemicals, apparel and other non-essential goods. These factors have hampered the demand for folding cartons in the ASEAN regions. However, demand for folding cartons in the ASEAN countries is expected to witness surge in demand once the situation starts to normalize.

11. Competitive Section: • Company Names  • AR Packaging Group AB • HUHTAMAKI GROUP • Mayr-MelnhofKarton Gesellschaft M.b.h. • International Paper • DS Smith PLC • Amcor Limited • Rengo Co., Ltd. • Pactiv Asia

12. Few Recent Developments: • AR Packaging Group AB • In April 2019, AR Packaging Group AB has entered into a definitive agreement with a subsidiary of Nampak Limited for the acquisition of all outstanding shares in Nampak Cartons Nigeria Limited, a producer of high-quality folding carton products for the tobacco, food and consumer goods segments. • In March 2019, A&R Carton has unveiled new sizes of the composite can Boardio with an optimized fiber content of 90%.

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