According to a research report released by Transparency Market Research, the ASEAN folding cartons market holds an intensely competitive scenario where there are a larger number of players of all sizes.The food and beverages industry has shown a phenomenal increase in demand for folding cartons in the ASEAN region. SBS-based folding cartons are likely to gain favor over the course of this report’s forecast period. The overall demand for folding cartons in the ASEAN food and beverage industry can be witnessed in this application segment’s CAGR of 6.80% for the given forecast period. The utility of folding cartons is gaining a lot of traction owing to the increasing distribution and demand for fresh foods.

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“The demand for folding cartons is expected to witness a considerable boost over the coming years, thanks to the pharma and healthcare industry boom in the ASEAN region. As the population in the region grows at a swift pace, expenditure on healthcare increases proportionately and given the adequate development of the healthcare industry, the opportunity of using faster and more efficient manufacturing methods and materials for folding cartons opens up. Over the coming years, the impact of pharma and healthcare demand for folding cartons will become more and more visible,” states a TMR analyst.

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Another key factor of influence over the ASEAN folding cartons market is the rise of the food delivery services in the region. Thanks to the growing use of the internet and ecommerce, more and more people are able to avail home delivery services for fresh foods and beverages. The overall incentive of pushing for the use of folding cartons in the takeaway foods area is very high and several key players have already recognized that.

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The ASEAN folding cartons market, however, is expected to face stiff competition from its conventional counterpart, flexible packaging and rigid packaging. Both forms of packaging have been highly prominent in the region and the lack of awareness of consumers and end users towards the benefits of using folding cartons is limiting the growth of the ASEAN folding cartons market. This is expected to change over the immediate future, as more consumers begin to prefer folding cartons.