Mono Cartons Market to Expand at a CAGR of 4.4% during Forecast Period: 2022 TMR Study

WILMINGTON, DE / ACCESSWIRE / February 14, 2023 / Transparency Market Research Inc. - The global mono cartons market size stood at US$ 723.1 Mn in 2022 and projected to expand at a CAGR of 4.4% between 2023 and 2031 to reach US$ 1.0 Bn by 2031. The global mono cartons market is anticipated to be driven by rise in demand in end-use industries such as food & beverage, cosmetics & personal care, pharmaceuticals, consumer goods, and electronics.

Advent of several highly advanced printing technologies and increase in demand for eco-friendly packaging options are anticipated to fuel industry growth in the next few years. Mono cartons are elegant, lightweight, and aesthetically pleasing packaging solutions. These cartons provide the right degree of customization, protection, and cost-efficiency. Growth of the mono cartons industry is driven by the expanding FMCG and retail sectors.

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Mono cartons are utilized to pack things in a small space.These have a range of applications in end-use sectors, such as cosmetics & personal care, electronics, food & beverage, and consumer products, and are extremely flexible. Increase in demand for customizable, practical, and environmentally-friendly packaging solutions is expected to create business opportunities in the global industry.

According to TMR's market report, advent of nanotechnology has led to thin barrier coatings on mono cartons, which is projected to drive market expansion. Mono cartons with barrier coatings are extensively utilized in the food industry to avoid contamination of food items such as frozen and chilled food products. Technological advancements in the production of sustainable goods with recyclable features are likely to propel market development between 2023 and 2021.

Key Findings of Market Report

• Food & beverage is one of the rapidly growing industries globally. As the intake of ready-to-make and ready-to-eat food increases, so does the need for food products. Mono cartons are likely to observe significant growth prospects due to increase in demand for packaged food products. Demand for mono cartons has increased due to rise in consumption of preserved food products.
• Demand for packaging that is aesthetically pleasing has increased in the past five years. Several brands are focusing on innovative and creative packaging to draw more consumers. Several firms are focusing on strengthening brand identities using artistic and innovative packaging due to high market competition. Increase in popularity of litho-laminated mono cartons across various end-use industries is anticipated to drive business growth in the near future. The industry is anticipated to expand as customizable, embossing, and flexography printing on mono cartons become more popular.
• Pharmaceutical companies frequently employ Braille packages. Braille characters are engraved on these cartons. For persons who are visually impaired, Braille cartons are developed particularly to make sure that they receive the relevant product information. Development of the healthcare system for the visually impaired persons is a priority for several governments in developing countries. Therefore, increase in demand for Braille cartons in medical packaging is likely to increase market size.

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Global Mono Cartons Market: Growth Drivers

• The consumer-packed goods (CPG) or fast-moving consumer goods (FMCG) industry has shown steady expansion in the past ten years. Rise in demand for consumer goods has led to surge in sales of mono cartons in the FMCG industry. Mono cartons are a common packaging choice for cosmetics, household goods, electronics, personal care items, toiletries, and various packaged food items. FMCG sales are driven by growing consumer preference for retail shopping as a sociable and leisurely activity. Demand for consumer products is projected to rise due to population expansion, shift in living standards among consumers in developing countries, and rise in disposable income. These factors are likely to drive business growth.
• Increase in restrictions on the use of plastic is expected to boost demand for paper packaging alternatives. Consumers are choosing environmentally-friendly paper packaging options. Manufacturers have created and implemented paper packaging solutions due to evolving market conditions and consumer demand. Paperboard or paper is used to make mono cartons. Globally, people are gradually becoming more impressed with these recyclable containers.

Global Mono Cartons Market: Regional Landscape

• Asia Pacific is anticipated to lead the global market during the forecast period. The market in the region is expected to grow at a CAGR of 35% between 2023 and 2021. Expansion of retail outlets and supermarkets is likely to bolster the market in Asia Pacific.

Global Mono Cartons Market: Key Players

Some of the key market players are

• Dunapack Spremberg GmbH & Co. K G
• The Walsall Box Co.
• Golden West Packaging Group
• Industrial Packaging Co.
• Georgia-Pacific LL.
• Great Little Box Company Ltd.

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Global Mono Cartons Market: Segmentation

Coating

• Coated
• Uncoated

End-use

• Food & Beverages
• Electronics & Electricals
• Pharmaceuticals
• Personal Care & Cosmetics
• Consumer Goods
• Automotive

Regions

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

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