Transparency Market Research (TMR) evaluated the luxury folding carton market to deliver key insights in its recent report titled, “Luxury Folding Carton Market: Global Industry Analysis 2013 – 2018 and Opportunity Assessment 2019 – 2027.” The global luxury folding carton market is estimated to expand at a CAGR of 4.6% during the forecast period (2019-2027).
The global luxury folding carton market will reportedly experience boost in demand owing to the rapidly growing luxury goods market and retail industry. In terms of volume, the global luxury folding carton market is projected to expand 1.4X by the end of 2027.
Key players outlined in the report are- Smurfit Kappa Group Plc, DS Smith Plc, Mondi Group, Coveris Holdings S.A., Robinson Plc, McLaren Packaging, Sunrise Packaging, Stora Enso Oyj, Westrock Company, International Paper Company, Metsä Board Oyj, KOLBUS GmbH & Co. KG, Karl Knauer KG, Keskeny & Co. Ltd., Mayr-Melnhof Karton AG, Groupe VERPACK, HH Deluxe Packaging, Stevenage Packaging Limited Solutia Italia Srl, and Diamond Packaging Corp.
In North America’s luxury folding carton market, the US market is anticipated to be highly attractive for luxury folding carton manufacturers during the forecast period. Evolving food & beverages industry, retail sector growth, and E-commerce industry growth are key factors behind the vigorous growth of the luxury folding carton market in the US.
In Eastern Europe, Poland is projected to register fast-paced growth due to the entry of Western European companies in the luxury market. The increasing attraction of Chinese consumers towards European luxury goods is expected to boost the demand for luxury folding carton during the forecast period.
Asia Pacific’s luxury folding carton market is anticipated emerge highly lucrative owing to rapid economic developments, urbanization, and retail market growth. Economic powerhouses such as China and India, are expected to be lucrative investment pockets for North American and European players in the luxury folding carton market. While China will lead APAC market through 2027, Vietnam, Indonesia, and Singapore will be key ASEAN countries in the luxury folding carton market.
Latin America and the Middle East & Africa luxury folding carton markets are estimated to witness sluggish market growth owing to the international spending of people on luxury goods. Brazilian luxury folding carton market is the largest marketplace in Latin America due to the retail and e-commerce growth during the forecast period. In the Middle East & Africa luxury folding carton market, Egypt is anticipated to register fast-paced growth, followed by GCC countries.