Increasing demand for food products, rapid industrial expansion, and growing demand for sustainable and efficient packaging materials from various end-use industries is driving growth of the market
New York, April 08, 2021 (GLOBE NEWSWIRE) -- Market Size – USD 17 Billion in 2020, Market Growth – at a CAGR of 3.5%, Market Trends –Increasing demand for attractive and eco-friendly packaging materials for products in food & beverages industry
The global kraft paper market is expected to be valued USD 22.38 Billion in 2028 from USD 17 Billion in 2020, and register a CAGR of 3.5% over the forecast period. Growth of the market is majorly attributable to growing demand for sustainable and recyclable material from packaging and various other end-use industries. Kraft paper is manufactured from wood pulp through pulverizing process and blending with strong wood filament. Rising demand for more environment friendly and effective packaging materials and solutions from end-use industries such as pharmaceuticals, foods & beverage, cosmetics & personal care, building and construction, aerospace, automotive, and electronics is expected to continue to support market growth over the forecast period.
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In addition, paper-based packaging offers benefits of compatibility with attractive printing, better shelf life of products, visual appeal, and protection of packaged goods during transportation. Eco-friendly packaging materials such as kraft paper are steadily gaining acceptance in various end-use industries as a primary packaging solution. Furthermore, these materials are lightweight, recyclable, reusable, and easy to transport, which opens up opportunities for growth of players operating in the market over the forecast period.
Kraft Paper Market by Grade (Bleached, Unbleached, Wrapping & Packaging, Sack Kraft Paper), Packaging Form (Wraps, Pouches, Grocery & Industrial Bags, Corrugated Box, Envelopes), Application (Foods & Beverage, Pharmaceuticals, Building and Construction, Cosmetics & Personal Care, Others), and Region - Global Forecast To 2028; To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/kraft-paper-market
Some Key Findings in the Report
The unbleached paper segment revenue is expected to expand at comparatively faster CAGR over the forecast period owing to widening range of applications across industries for packaging and transportation of large items.
The industrial bags segment is expected to register a steady revenue CAGR during the forecast period owing to increasing demand for industrial bags, especially from the construction industry, globally. Expansion of the global construction industry, and in developing countries in particular, is boosting demand for industrial bags, and driving growth of the global kraft paper market.
Among the application segments, the building & construction segment is projected to account for largest revenue share in the global kraft paper market and maintain its dominance over the forecast period. Growth of the market is attributable to increasing investment on improving and expanding infrastructure in developing economies and rising trend of smart cities and projects.
North America is expected to account for substantially large revenue share in the global kraft paper market owing to a rapidly growing food industry in countries in the region. Additionally, increasing rate of paper recycling in the region coupled with rising awareness about reducing impact on the environment is driving growth of the regional market.
Revenue from the market in Asia Pacific is projected to expand at a fastest CAGR during the forecast period owing to increase in demand for recyclable materials for packaging goods in countries in the region.
Major players in the kraft paper market include:
Daio Paper Construction
For the purpose of this report, Reports and Data has segmented the global kraft paper market on the basis of grade, packaging form, application, and region:
By Grade Outlook (Revenue, USD Billion; 2018-2028)
Wrapping & Packaging
Sack Kraft Paper
Others (Vegetable Parchment, Greaseproof, and Glassine)
By Packaging form Outlook (Revenue, USD Billion; 2018-2028)
By Application Outlook (Revenue, USD Billion; 2018-2028)
Foods & Beverage
Building and Construction
Cosmetics & Personal Care
By Region Outlook (Revenue, USD Billion; 2018-2028)
Rest of Europe
Rest of APAC
Rest of MEA
Rest of LATAM
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