Market Trends of Mono Cartons Industry
The Food and Beverage Industry is Expected To Witness Significant Growth
- Food and beverage packaging is a critical part of the industry and essential in ensuring the food or beverage is safe. It protects food from contamination and damage, helps extend its shelf life, and makes it easier to transport and store.
- Mono cartons used for food packaging are made from a single layer of cardboard. Mono cartons are recyclable, durable, and versatile and can package various food products, including fresh and frozen food products, snacks, and baked goods. Mono-carton packaging guarantees the food stays fresh, protected, and visually appealing.
- The demand for carton boards globally is witnessing growth. According to Suzano Papel e Celulose, cartonboard consumption was 54 million tons in 2022 and is expected to reach 56 million tons by 2024. The increase in the worldwide consumption of cartons is expected to drive the market growth over the forecast period. Also, according to Frozen & Refrigerated Buyer and Cirnca, the frozen food sales in the United States in 2023 were topped by pizza at USD 1,564.04 million, followed by ice cream at USD 1,463.49 million.
- As carton packaging keeps moisture away from products and resists long shipping times, it is increasingly being adopted by various brands to offer better results to their consumers, mainly as a means to secondary or tertiary packaging. Processed foods, such as bread, cakes, and perishable items, need such packaging materials to be used, thereby driving the demand.
- Various countries are witnessing a rise in the consumption of processed food, fresh produce, and meat sectors. Food consumption growth continues to be fueled by health and wellness trends and the increase in consumers' ethical concerns. Additionally, population growth is expected to be the key driver behind the demand for fresh food during the forecast period. A trend for organically produced foods is expected to increase the presence of sustainable fresh food at premium price points in modern grocery retailers.
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The Asia-Pacific Region is Expected to Witness the Fastest Growth
- The Asia-Pacific region is one of the largest global folding carton packaging markets, including mono cartons, and demand is likely to grow due to its significant potential evolution. Demand in some emerging Asian countries is anticipated to be strong. The Asia-Pacific region dominates the global folding carton packaging market due to the rising demand for ready-to-eat meals in China, India, etc.
- As consumers focus on changes to eco-friendly and sustainable practices, mono-carton demand is growing across several regional industries, including food and beverage, healthcare, personal care, retail, etc. Consumer awareness of sustainable packaging choices, raw material availability, paper's lightweight and recyclable characteristics, and deforestation have all contributed to the region's demand for folding carton packaging.
- A survey conducted by the Packman team in June 2023 showed a financial analysis of a group of Indian mono-carton companies; the top five companies had turnovers exceeding INR 200 crore, while the bottom five had turnovers ranging from INR 45 crore to INR 90 crore. Many companies supplied mono cartons for various FMCG segments, including food, alcohol, and pharma products.
- According to METI (Japan) and the Paper Recycling Promotion Center (PRPC), in 2023, the paper production volume in Japan amounted to approximately 11.6 million metric tons, and the production volume for paperboard stood at around 10.4 million metric tons. The paper and paperboard production volume increased to around 22 million metric tons.
- In May 2023, Omya International AG announced investments in its paper and board industry. The company invested in seven onsite plants for ground and precipitated calcium carbonate at paperboard mill locations in China and Indonesia. The new plants in China include three ground calcium carbonate (GCC) plants in Guangxi, Guangdong, and Shandong, two precipitated calcium carbonate (PCC) plants in Shandong, and one more PCC plant in Fujian. These raw materials used for paper manufacturing will improve the paper's properties, such as printability, gloss, smoothness, etc. Such expansions by paper manufacturing companies in the region are expected to drive the market growth over the forecast period.
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