Apart from strategic partnerships, several other renowned players have been on an acquisition spree, purchasing packaging material manufacturing companies to further consolidate their business presence. One of the renowned giants in printed cartons market, Nosco Inc., recently took over the New York-based manufacturer, Gooding to deploy an extra manufacturing facility in North America and eventually reduce the packaging costs by lowering lead times. The rising prevalence of M&As in the competitive spectrum of printed cartons market is certain to help expand the business scope in the ensuing years.
The popularity of digital printing technologies in packaging has soared tremendously in recent years, on the grounds of which printed carton market giants have been vigorously adopting time-tested tactics such as joint ventures and long-term partnerships. For instance, Xerox has recently partnered with one of the well-known packaging manufacturers, Alexir, in a bid to promote digital printing technologies within the packaging domain. Xerox has additionally hosted several promotional events with its packaging partners to educate them about current scenario in digital packaging. The rising prevalence of such moves is thus, certain to considerably boost printed cartons industry share.
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Considering the shifting trends toward the deployment of printed cartons, companies continue to invest heavily in the development of advanced technology to augment their production capability and increase the product penetration across myriad sectors. Recently, it has been observed that the demand for packaging has increased enormously for the healthcare domain. According to Global Market Insights, Inc., the healthcare sector will account for a considerable proportion of printed cartons market share, with an estimated annual growth rate of 5% over 2017-2024.
Taking into account the future scope of printed cartons for medical application, the designer and builder of packaging machines, Marchesini Group has liberally customized its cosmetics and pharmaceutical line. The deployment of automation in the production of printing cartons for all kinds of pharmaceutical packaging products is thus certain to stimulate printed cartons market share over 2017-2024. Speaking of which, the competitive spectrum of printed cartons industry is inclusive of players such as Amcor Ltd., All Packaging Company, WestRock Company, Lithoflex Inc., Tetra Pak International S.A., and Winston Packaging.
Of late, the rising amount of waste material and landfills are key issues of concern across the globe, pertaining to which, regulatory bodies and regional governments are have been prompting manufacturers to develop degradable products – a move that may have a considerable impact on printed cartons market. In order to comply with regulatory norms, most of the end-user sectors such as electronics, personal care, healthcare, and food & beverage are increasingly using recyclable paperboard cartons for packaging purposes.
Various paper box manufacturers in printed cartons industry are also taking initiatives to deploy eco-friendly green facilities. It has even been observed that these paper box manufacturers have been using eco-friendly options for printing purposes. For instance, the U.S. based paperboard specialist, Imperial Packaging, has garnered quite a reputation as an environment conscious company that has implemented a large-scale recycling program for manufacturing eco-friendly paper boxes. Apparently, the company is totally dependent on wind power and uses soy-based ink and water-based aqueous coatings for producing printed cartons, thus setting a precedent for printed cartons industry players.
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Recently, the U.S. Food & Drug Administration has provided an authorization to AIRSHIELD™ – an efficient packaging process that removes oxygen from rigid and flexible packaged food container, as the continuous release of oxygen inside the container degrades the food inside the package. This instance is remnant of the numerous food packaging developments prevalent in U.S. printed cartons market, that are likely to impel the regional share.
While smart packaging services form a part of the growth strategies of companies in printed cartons market, companies have also been giving preference to corrugated cardboard based packaging, as it has the ability to carry more weight and is a more sustainable option. Moreover, corrugated cardboard is very cost effective and customizable, pertaining to which, electronic giants have been increasingly utilizing printed corrugated cartons for transportation and fragile electronic device storage. In effect, corrugated printed cartons industry size has been projected to grow at a rate of 5% over 2017-2024.
The contribution of regional governments related to the miniaturization of landfills and carbon content in the environment will positively influence the adoption of biodegradable products. In Europe in fact, many of the countries have implemented stringent norms to promote the usage of biodegradable products. The implementation of such regulatory norms would undeniably promote advancements in biodegradable and bio-based products, which will stimulate biodegradable printed cartons industry share over the coming years. Driven by heavy investment in research and development activities along with escalating adoption of business strategies such as mergers and acquisitions by prominent players, printed cartons market is likely to experience a positive growth rate in the years ahead.
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