Keypoint Intelligence recently published a State of the Industry report for the folding carton industry. Part of a five-report series Keypoint Intelligence’s State of the Industry reports serve as a comprehensive exploration into digital adoption within the labels and packaging sector, aiming to dissect and understand the dynamics at play.
These reports conduct a detailed and careful examination of digital practices across the industry, methodically separating effective strategies from those that fall short. By doing so, they present a clear and nuanced understanding of which tactics are yielding positive results and which ones need critical reassessment. This meticulous analysis extends into the realm of digital adoption within the folding carton market, illuminating current trends and dynamics. It not only brings to light the prevailing patterns and practices but also delivers actionable insights. These insights serve as a guide, defining the benchmarks for what is considered success in this space, and identifying the potential pitfalls and challenges that companies might face within the folding carton industry. Through this in-depth exploration, stakeholders are equipped with the knowledge to navigate the market more effectively, making informed decisions that are pivotal for future growth and innovation.
“Digital adoption in the folding carton sector to date has been initiated primarily with early adopters, those who are considered visionaries and digital enthusiasts. This has been good for the industry in that it has allowed technologies, business models, and workflows to be evaluated and tested, strengths to be leveraged and weaknesses to be remedied,” comments Kevin Karstedt, VP of Keypoint Intelligence’s Packaging service. “The next group of converters looking for adoption is the Early Majority who are more pragmatic in their thinking and will invest in areas that will have the largest impact on their business. There are marked differences in how each of these converter groups need to be marketed, sold to, and supported, what works for one group will not work for the other. These differences are highlighted in the report and are coming at just the right time as the market is poised to enter a new phase of implementation with meaningful changes in technology and productivity. The next few years are going to be very interesting,”
“In 2024, a few new solutions are coming into the market that will take production levels much closer to analog presses in a B1 format,” stated Jeff Wettersten, VP of Keypoint Intelligence’s Packaging service. “If the digital market targeted proves to be successful, it will propel the industry into the second phase of digital adoption, focusing on addressing the entirety of production costs.”
For more information about the report, please click here.
