Saudi Arabia Folding Carton Market Outlook | Revenue, Growth, Forecast, Share, Analysis, Size, Trends, Companies, Value, Industry & COVID-19 IMPACT: Market Forecast By Type, By End Use and Competitive Landscape

Saudi Arabia Folding Carton Market registered a growth of 11.92% in value shipments in 2021 as compared to 2020 and a decrease of -16.56% CAGR in 2021 over a period of 2017. In Folding Carton Market Saudi Arabia is becoming less competitive as HHI index in 2021 was 4464 while in 2017 it was 1625. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.   Saudi Arabia has reportedly relied more on domestic production to meet its growing demand in Folding Carton Market. India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Folding Carton Market in 2021 was 0.18 while in 2017 it was 0.26. China, Kuwait, Jordan, Egypt and Lebanon were among the top players of the market in 2021, where China acquired the largest market share of 65.28% with a shipment value of 13.34 million USD in 2022 China also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Folding Carton Market. In 2017 China had the largest market share of 32.02% with the shipment value of 14.45 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.  

Saudi Arabia Folding Carton Market Shipment Analysis

Saudi Arabia Folding Carton Market registered a growth of 11.92% in value shipments in 2021 as compared to 2020 and a decrease of -16.56% CAGR in 2021 over a period of 2017. In Folding Carton Market Saudi Arabia is becoming less competitive as HHI index in 2021 was 4464 while in 2017 it was 1625. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.   Saudi Arabia has reportedly relied more on domestic production to meet its growing demand in Folding Carton Market. India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Folding Carton Market in 2021 was 0.18 while in 2017 it was 0.26. China, Kuwait, Jordan, Egypt and Lebanon were among the top players of the market in 2021, where China acquired the largest market share of 65.28% with a shipment value of 13.34 million USD in 2022 China also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Folding Carton Market. In 2017 China had the largest market share of 32.02% with the shipment value of 14.45 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.  

Saudi Arabia Folding Carton Market Synopsis

The Saudi Arabia folding carton market is a crucial component of the packaging industry. Folding cartons are widely used in the food, pharmaceutical, and consumer goods sectors for packaging products. The market is driven by the demand for attractive and functional packaging solutions that also meet regulatory requirements. As saudi Arabia consumer goods and food industries continue to thrive, the folding carton market is expected to grow in tandem, offering a wide range of packaging options to businesses.  

Drivers of the Market

The folding carton market in Saudi Arabia is experiencing a surge in demand due to several key drivers. The thriving retail and food industries in the country are major contributors to the market`s growth. Folding cartons are extensively used in packaging food products, pharmaceuticals, cosmetics, and other consumer goods. Moreover, the rise in disposable income and changing consumer preferences have led to increased demand for premium packaging, which often includes folding cartons. Additionally, government regulations promoting sustainable and eco-friendly packaging materials have encouraged the adoption of folding cartons as they are recyclable and environmentally friendly.  

Challenges of the Market

The folding carton market in Saudi Arabia faces challenges linked to packaging and consumer preferences. Meeting the packaging requirements of various industries while maintaining cost-effectiveness is a constant challenge. Additionally, consumer demand for eco-friendly and visually appealing packaging requires innovation in design and material selection. Fluctuations in demand from different sectors, such as food and pharmaceuticals, can impact market stability. Furthermore, regulatory compliance in terms of packaging safety and labeling remains paramount.  

COVID-19 Impact on the Market

The folding carton market in Saudi Arabia underwent changes driven by the COVID-19 pandemic. The market, closely tied to the food, beverage, and pharmaceutical industries, experienced shifts in demand as consumer preferences shifted towards packaged and processed foods. With increased demand for packaged products, the market witnessed growth. However, supply chain disruptions and workforce limitations posed challenges for manufacturers. The market`s recovery hinges on the pace of economic revival and consumer preferences.  

Key Players in the Market

In the folding carton market, notable players include Abdullah Al Othaim Markets Co., Middle East Packaging Factory, and Saad Packaging Contracting Co. They specialize in manufacturing folding cartons for the packaging industry.