Market Trends of Asia Pacific Folding Carton Industry
This section covers the major market trends shaping the APAC Folding Carton Market according to our research experts:
Healthcare Industry to Show Significant Growth
- The Asia Pacific is one of the fastest-growing regions. It has the highest share in the market, owing to the presence of densely populated countries, such as India and China, as well as the increasing prevalence of the pharmaceutical and healthcare market in these countries.
- The healthcare and pharmaceutical sector in China is one of the world's largest markets, primarily driven by its aging population. China had a population of 249 million aged 60 years or above by the end of 2018, making up 17.9% of the national population. The number is expected to reach 487 million in 2050, which means one in every three Chinese would be a senior citizen.
- In recent years, the country's government introduced a series of policies to narrow the pharmaceutical innovation gap between China and other leading countries. The plans include developing multinational clinical centers, sharing clinical data globally, accelerating the approval process of special medicine, and improving clinical data protection.
- Additionally, the pharmaceutical sector plays a vital role in the country's roadmap, moving from manufacturing generics to new drug development. The Healthy China 2030 initiative underlines this shift. Hence, the growth of the pharmaceutical industry is expected to create opportunities, thereby driving the packaging market's growth positively, which in turn, may drive the market growth in the country.
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China to Hold the Highest Market Share
- The packaging industry is on the lookout for new food and beverage packaging materials as the trend toward health consciousness grows. These materials are believed to provide antibacterial qualities as well as mechanical robustness, allowing the product to stay fresh for longer. This is predicted to increase packaged food consumption, as well as the use of packaging materials in the country.
- China is bound by its limited and degraded agricultural resources, according to Australia's Department of Agriculture and Water Resources, which has raised worries about the country's ability to fulfil the rising demand for food supply from domestic production. As a result, the government must seek for alternatives, such as importing food items, which would necessitate sustainable packaging that would preserve the product from harm and degradation. As a result, the packaging sector in the region would benefit.
- The growing urban population, developing e-commerce package industry, dropping pulp prices, and improving population awareness about environmentally friendly packaging are expected to propel China's paper packaging market.
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