NEW YORK, May 4, 2021 /PRNewswire/ --The folding carton market in North America by end-user (food and beverage products, homecare and personal products, healthcare products, tobacco products, and others) and geography (the US, Canada, and Mexico) has been added to Technavio's offering. The folding carton market is expected to grow by USD 2.68 billion, registering a CAGR of about 5% during 2021-2025.
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The rise in the number of COVID-19 cases led to the shutdown of several manufacturing units, including the manufacturing plants of folding cartons in North America. Also, the disruptions in the supply chain caused by the pandemic limited the availability of raw materials and workforce in the market. However, the increasing demand from the healthcare and food and beverages industries for packaging and transporting a wide range of products is expected to reduce the impact caused by the pandemic on the market in 2021.
The market is expected to be driven by factors such as the increasing use of eco-friendly materials in packaging, the emergence of specialized folding cartons, and the growth in the retail segment and e-commerce in North America.
The report also offers information on the upcoming trends and challenges that will influence market growth.