Future Market Insights
The global packaging market is driven by an enormous number of packaging innovations undertaken by manufacturers to sustain in the highly competitive market. Trifold packaging is a result of such innovative product development activities. Trifold packaging provides the product an all-round visibility which is not possible using a one piece packaging. A trifold package is hinged in 2 places to form a triangular base. Trifold packaging is one of the unique forms of packaging which helps in merchandising the product by shelving it or hanging it on a wall. It is mainly suitable for products which need to stay in vertical position. In trifold packaging, the location where the product has to be stored is important as it lays its effect on the stability of the product. Trifold packaging is extensively used in retail stores and supermarkets to hang the product and allowing more versatility.
Trifold Packaging: Market Dynamics
Trifold packaging is preferred, by manufacturers as it increases the product visibility by incorporating the product’s shape and hence contributing to marketing and brand identity of the product. This is one of the key factor driving the global trifold packaging market. The trifold packaging also enhances the product flexibility which is also fuelling the growth of the global trifold packaging market. Factor restraining the growth of the global trifold packaging market is the high cost of the packaging as compared to other types of packaging due to the requirement of more plastic material as compared to standard packages. Government regulations that ban the use of plastic is also a restraining factor for the global trifold packaging market. Manufacturers are reluctant on incorporating trifold packaging in their product packaging line. Moreover, a larger mold is required for manufacturing trifold packaging due to their increased size. Since a large amount of plastic is used for manufacturing, increasing emphasis on the use of bioplastics is a key trend prevailing in the global trifold packaging market. Sustainable packaging solutions is also a key focus of the manufacturers making trifold packaging.
Trifold Packaging: Market Segmentation
Global trifold packaging market is segmented on the basis of raw material, end use, and geography. On the basis of raw material, the global trifold packaging market is segmented into PVC, PP, PET, and polystyrene. PVC is the most extensively used raw material for trifold packaging. On the basis of end use, the global trifold packaging market is segmented into Food & Beverages, Electronics, consumer goods, healthcare, and others. In the food & beverage segment, the trifold packaging is mainly employed for storing eggs, and packaging nutraceuticals. In healthcare, the trifold packaging is used for packaging medical devices and in electronics, for circuit board packaging.
Trifold Packaging Market: Regional Outlook
On the basis of geography, the global trifold packaging market is segmented into Latin America, North America, Asia Pacific, Europe, and Middle East & Africa. North America is leading the global trifold packaging market followed by Asia Pacific region. The boom in the healthcare sector of developing economy like India is anticipated to boost the trifold packaging market of the Asia Pacific region. Latin America is expected to exhibit moderate growth over the forecast period owing to an increased market penetration of retail companies. The demand for Trifold packaging is anticipated to show sluggish growth due to the economic downturn in the leading European countries.
Trifold Packaging Market: Key players
Key players of the global trifold packaging market are Transparent Container Inc., Berkeley Sourcing Group, Panic Plastics Inc., Smurfit Kappa, and Plastic Ingenuity.
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