Newly released data from litho laminated cartons market analysis shows that global demand of overall litho laminated cartons market is anticipated to register a CAGR of ~5.4% during the forecasted period and reach millions of units by 2031. Prominent sales of litho laminated cartons are driven by the evolving e-commerce industry across the globe.
Global Litho Laminated Cartons: Market Outlook
The litho laminated cartons are generally used as a secondary packaging solution in many industries. Litho laminated cartons are formed by joining two pieces of paper and cardboard, one printed by lithographic printing technology and the other acts as a back liner.
The two sheets often have a fluted medium between them to ensure enhanced protection to packaged contents.
These are a lightweight, efficient and attractive alternative to traditional heavyweight folding cartons. As a result of the several benefits provided by the target product many industries like beverage, food, electrical and electronics among others are switching to litho laminated cartons for their secondary packaging needs.
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What are the Key Trends Impacting Growth of the Litho Laminated Cartons Market?
The evolving e-commerce industry is playing a major role in the expansion of the litho laminated cartons market. The sheer volume of products being shipped in the global e-commerce market daily is consistently on the rise.
Litho laminated cartons are the preferred choice of the manufacturers in the industry as they are not only light in weight but are also comparatively economical than the traditional heavy cartons. The high packaging demand generated by the e-commerce industry is projected to bolster the market growth for litho laminated cartons across the globe.
How is the Growing Electronics Industry Reshaping the Litho Laminated Cartons Market?
With constant technological advancements, the electronics industry is growing at a steady pace. The innovation in the electronics industry has increased the dependency of humans on technology. Due to the convenience and comfort offered by the equipment and gadgets the demand for these items is always elevated in the market.
Many of the electronic products are packaged in litho laminated cartons as they tend to be less bulky, comparatively economical and provide necessary protection to the contents. On the back of the rising electronics industry, the litho laminated cartons market is anticipated to experience elevated demand during the foreseeable future.
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What are the Key Challenges that may Restrain Growth of the Litho Laminated Cartons Market?
The litho laminated cartons are technically sustainable and can be reused and recycled as well, but the majority of them end up in waste dump sites. This contributing to the waste generation and accumulation problem which is a cause of concern.
The increasing waste amount of waste might restraint the growth of the target market. Furthermore, the widely available and comparatively economical alternatives are contributing to slowing down the growth of litho laminated cartons in the market.
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What Strategies are the Key Players adopting to Increase their Market Share in the Litho Laminated Cartons Market?
Key players in the litho laminated cartons market are focused on the expansion of their product portfolio and production capacities to capture maximum market share. Mergers, acquisitions, product launches are some of the strategies adopted by the key players.
For instance, in August 2019, TCPL Packaging Limited inaugurated its fifth printing line in Haridwar, India to enhance its capabilities. Further, in July 2021, Graphic Packaging International announced the completion of the acquisition of Americraft Carton Inc.
What are the Key Opportunities for Litho Laminated Cartons Manufacturers?
The litho laminated cartons market is highly competitive because of presence of many regional players. In order to stand out in this highly competitive market the manufacturers need to launch innovative and customized litho laminated cartons. Manufacturers can offer innovative products like cartons with PVC window, tuck top snap bottom and UV spot to gain maximum market share.
Why will India Generate Significant Demand for the Litho Laminated Cartons Market?
The Indian government is making consistent efforts to attract more global manufacturers in the electronics industry to set up their plants in India. This has resulted in key players in the electronic devices market like Samsung Electronics, OnePlus Technology Co., Ltd. among many other to start new production plants in the country. With the increasing number of manufacturers, India is anticipated to generate significant demand for the litho laminated cartons market.
What is the Impact of the Pandemic on the Growth of the Litho Laminated Cartons Market?
The COVID-19 pandemic negatively impacted a majority of industries in the global market. The litho laminated cartons market also suffered the repercussions of the pandemic.
However, the target market managed to sustain severe damage as compared to other industries on the back of the drastic growth of the e-commerce industry during the pandemic. With the ongoing ease of restrictions and lifting of lockdowns the litho laminated cartons market is estimated to recover rapidly.
Key Segments of Litho Laminated Cartons Market Covered in the Report
