Mono Cartons - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The Mono Cartons Market size is estimated at USD 0.82 billion in 2024, and is expected to reach USD 1.20 billion by 2029, growing at a CAGR of 4.80% during the forecast period (2024-2029).

Mono cartons are lightweight, esthetically appealing packaging solutions. Mono cartons are a type of folding carton that provides protection, and the cartons can be customized based on the requirements of various end-user applications.

Key Highlights

• Mono cartons are used for compact packaging of products, are highly customizable, and facilitate many applications across various end-user industries. An increase in demand for sustainable packaging is driving the market growth. Coated and uncoated mono cartons are produced in multiple designs, shapes, and sizes, increasing the demand for appealing designs and creating growth opportunities for the cartons.
• Mono cartons facilitate convenience for their storage and usage. These cartons help reduce the weight of the package due to their lightweight structure and offer a reasonable amount of strength to ensure the security of the packaged products. It also comes foldable, providing ample storage and shipment easement. It is cost-effective in production, distribution, and consumption, thus, is in high demand.
• The fast-moving consumable goods (FMCG) industry is critical to the consumption of mono cartons due to the continuous storage and shipment of small-sized products such as toothpaste, soap, biscuits, and face cream. The FMCG industry also uses printed cartons labeled with product specifications as the primary packaging material. Due to the increasing number of retail stores, coupled with rising individual disposable income in developing countries, the growing FMCG industry is anticipated to fuel the demand for mono cartons over the forecast period.
• E-commerce mono cartons have emerged as a favored alternative for e-commerce packaging. Mono cartons are a significant choice as more individuals buy online and want their products to arrive securely and in shape. Furthermore, companies can use the large surface area of mono cartons for branding and marketing, increasing exposure and creating a stronger brand identity.
• The market witnesses challenges due to alternate packaging materials such as plastic. Despite the rising popularity of sustainable packaging, plastic packaging remains one of the market's leading growth drivers. Many customers still favor the comfort and cost of plastic packaging, which makes the widespread adoption of mono cartons difficult. Persuading consumers and businesses to abandon plastic packaging necessitates effective educational and awareness initiatives on the environmental benefits of utilizing mono cartons.

Mono Cartons Market Trends

The Food and Beverage Industry is Expected To Witness Significant Growth

• Food and beverage packaging is a critical part of the industry and essential in ensuring the food or beverage is safe. It protects food from contamination and damage, helps extend its shelf life, and makes it easier to transport and store.
• Mono cartons used for food packaging are made from a single layer of cardboard. Mono cartons are recyclable, durable, and versatile and can package various food products, including fresh and frozen food products, snacks, and baked goods. Mono-carton packaging guarantees the food stays fresh, protected, and visually appealing.
• The demand for carton boards globally is witnessing growth. According to Suzano Papel e Celulose, cartonboard consumption was 54 million tons in 2022 and is expected to reach 56 million tons by 2024. The increase in the worldwide consumption of cartons is expected to drive the market growth over the forecast period. Also, according to Frozen & Refrigerated Buyer and Cirnca, the frozen food sales in the United States in 2023 were topped by pizza at USD 1.56 billion, followed by ice cream at USD 1.46 billion.
• As carton packaging keeps moisture away from products and resists long shipping times, it is increasingly being adopted by various brands to offer better results to their consumers, mainly as a means to secondary or tertiary packaging. Processed foods, such as bread, cakes, and perishable items, need such packaging materials to be used, thereby driving the demand.
• Various countries are witnessing a rise in the consumption of processed food, fresh produce, and meat sectors. Food consumption growth continues to be fueled by health and wellness trends and the increase in consumers' ethical concerns. Additionally, population growth is expected to be the key driver behind the demand for fresh food during the forecast period. A trend for organically produced foods is expected to increase the presence of sustainable fresh food at premium price points in modern grocery retailers.

The Asia-Pacific Region is Expected to Witness the Fastest Growth

• The Asia-Pacific region is one of the largest global folding carton packaging markets, including mono cartons, and demand is likely to grow due to its significant potential evolution. Demand in some emerging Asian countries is anticipated to be strong. The Asia-Pacific region dominates the global folding carton packaging market due to the rising demand for ready-to-eat meals in China, India, etc.
• As consumers focus on changes to eco-friendly and sustainable practices, mono-carton demand is growing across several regional industries, including food and beverage, healthcare, personal care, retail, etc. Consumer awareness of sustainable packaging choices, raw material availability, paper's lightweight and recyclable characteristics, and deforestation have all contributed to the region's demand for folding carton packaging.
• A survey conducted by the Packman team in June 2023 showed a financial analysis of a group of Indian mono-carton companies; the top five companies had turnovers exceeding INR 200 crore, while the bottom five had turnovers ranging from INR 45 crore to INR 90 crore. Many companies supplied mono cartons for various FMCG segments, including food, alcohol, and pharma products.
• According to METI (Japan) and the Paper Recycling Promotion Center (PRPC), in 2023, the paper production volume in Japan amounted to approximately 11.6 million metric tons, and the production volume for paperboard stood at around 10.4 million metric tons. The paper and paperboard production volume increased to around 22 million metric tons.
• In May 2023, Omya International AG announced investments in its paper and board industry. The company invested in seven onsite plants for ground and precipitated calcium carbonate at paperboard mill locations in China and Indonesia. The new plants in China include three ground calcium carbonate (GCC) plants in Guangxi, Guangdong, and Shandong, two precipitated calcium carbonate (PCC) plants in Shandong, and one more PCC plant in Fujian. These raw materials used for paper manufacturing will improve the paper's properties, such as printability, gloss, smoothness, etc. Such expansions by paper manufacturing companies in the region are expected to drive the market growth over the forecast period.

Mono Cartons Industry Overview

The market is fragmented with the presence of various players such as Graphic Packaging International LLC, Oji Holdings Corporation, Westrock Company, and International Paper. The companies operating are focused on innovating new solutions through investments, collaborations, mergers and acquisitions, etc., to expand their business in the region.

• February 2024: Oji Holdings and Nihon Tetra Pak K.K. partnered to pioneer Japan's first recycling system specifically for aseptic carton packages, a significant step toward gaining a circular economy for paper resources in the country. The recycling system collects aseptic carton packages from various sources, including retail and municipal collections and waste paper from packaging manufacturers.
• September 2023: Graphic Packaging International acquired Bell Inc. for USD 262.5 million. Bell operates three converting facilities: two in South Dakota and one in Ohio. Graphic previously estimated the Bell acquisition would add USD 200 million in sales and yield USD 10 million. Bell consumes an estimated 95,000 tons of paperboard annually at those facilities to convert into folding cartons and related products.

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