Increasing demand for recycled paper bags and kraft paper over polyethylene for carrying and packaging products at supermarkets and malls such as food products is expected to open up a range of lucrative opportunities for growth of companies operating in the market. In addition, rising preference for materials that are compliant with green regulations suggested by FDA is boosting demand for kraft paper and the trend is expected to continue over the forecast period.
The global kraft paper market is expected to be valued at USD 22.38 Billion by 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 rising demand for sustainable and recyclable materials for packaging from various end-use industries. Kraft paper is manufactured from wood pulp through pulverizing process and blending with strong wood filament. However, high cost of kraft paper coupled with rising awareness regarding deforestation and resulting environmental impact of paper manufacturing are some key factors restraining growth of the market to some extent currently.
Kraft paper has robust applications across the food & beverage industry for packaging of food and groceries. The production of carryout bags, shopping bags, butcher bags, gift wraps, and other shipping sacks has increased substantially owing to rising awareness among consumers about benefits of eco-friendly materials and easy availability of these bags.
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Some Key Findings in the Report:
- 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 this segment can be attributed to kraft paper finding a range of applications in the construction industry and for material application and product packaging owing to good resistance to temperature and water.
- Among the grade segments, the bleached paper segment is expected to account for dominant revenue share in the kraft paper market, with the trend continuing over the forecast period. This growth can be attributed to growing acceptance of bleached paper owing to superior properties over regular kraft paper such as higher strength.
- Among the packaging form segments, the corrugated segment is expected to account for leading revenue share in the global market and maintain its dominance over the forecast period. This growth is attributable to increasing demand for improved protection for goods during transportation. The recyclable and reusable nature of corrugated material is leading to increasing end-use and consumer inclination toward this type of packaging material.
- North America is expected to lead in terms of market revenue share over the forecast period, driven by significant revenue contribution from the US and Canada.
- Europe is expected to account for second-largest revenue share in the global kraft paper market and maintain its position over the forecast period. This growth is attributable to increasing rate of paper recycling coupled with rising awareness about the environment.
- 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 kraft paper for packaging of goods in countries in the region.
- Major players in the global kraft paper market include Mondi, Segezha Group, Klabin, Billerudkorsnas, Stora Enso, Daio Paper Construction, Nordic Paper, Glatfelter, and Gascogne Papier.
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)
- Corrugated Boxes
- Grocery Bags
- Industrial Bags
By Application Outlook (Revenue, USD Billion; 2018-2028)
- Foods & Beverage
- Building and Construction
- Cosmetics & Personal Care
By Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Indicative Metrics
Chapter 4. Kraft Paper Market Segmentation & Impact Analysis
4.1. Kraft Paper Market Service Segmentation Analysis
4.2. Industrial Outlook
Key Questions Answered in this Research Study:
- What is the global production, production value and consumption value?
- Who are the global key manufacturers of the market? How are their operating situation?
- What are the types and applications of market?
- What is the market share value of each type and application?
- What are the upstream raw materials and manufacturing equipment?
- What is the manufacturing process?
- Economic impact on the market and development trends of market.
- What will be the market size and the growth rate be in 2028?
- What are the key factors driving the market?
- What are the key market trends impacting the growth of the market?
- What are the challenges to market growth?
- What are the market opportunities and threats faced by the vendors in the market?
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About Reports and Data
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Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs
Check our upcoming research reports @ https://www.reportsanddata.com/upcoming-reports