The trifold packaging market is expected to embark on a positive growth trajectory, registering a CAGR of 6% during the forecast period ranging from 2022 to 2032. According to Future Market Insights, the market is expected to be valued at US$ 9.3 Billion in 2022, and is expected to reach US$ 16.65 Billion in 2032.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2022 | US$ 9.3 Billion |
| Projected Market Value in 2032 | US$ 16.65 Billion |
| Growth Rate (2022 to 2032) | 6% CAGR |
Trifold packaging is one of the innovative forms of packaging which helps to store and sell the product by placing it on shelves or hanging it on a wall. Such type of packaging offers all-around visibility to the product and is quite ideal for products that need to stay in a vertical position.
Trifold packaging has come into existence due to new and updated product development activities. This type of packaging gives the product all-around visibility which is not possible using one-piece packaging. The trifold packaging also enhances product flexibility which is also fuelling the growth of the global trifold packaging market.
The rising demand for trifold packaging in diversified application bases is expected to stimulate the growth of the market. Trifold Packaging is a unique type of clamshell packaging that can stand on a display. The package is made of two halves that are joined by hinges and have a flat bottom to enable the standing feature.
Due to these features, Trifold Packaging is extensively used in applications that require improved product visibility, such as in supermarkets and retail stores. Trifold Packaging is suitable for products that are heavy and those that have little or no balance. Trifold provides a solid base for such products to stand on when displayed.
FMI research indicates that trifold packaging shows great potential for not only durability but improving outcomes for buyers in different areas as trifold packaging offers benefits like:
The manufacturer of the trifold packaging market offers a wide selection of bag sizes, and material choices factoring in elements such as thickness, resistance, and thermal conductivity to bring out the best in food packaging and pharmaceuticals. Sustainable packaging solutions is also a key focus of the manufacturers making trifold packaging.
Research shows manufacturers need to overcome a variety of challenges to provide good trifold packaging solutions. Trifold requires more material and a larger mold/machine to manufacture. Trifold Packaging have high cost compared to other types of packaging
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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 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.
Principal Consultant
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.
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.
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Key players of the global trifold packaging market are Transparent Container Inc., Berkeley Sourcing Group, Panic Plastics Inc., Smurfit Kappa, and Plastic Ingenuity.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies
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