Wilmington, Delaware, United States, May 06, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The Global Kraft Paper Market size stood at US$ 17.3 Bn in 2021. The global industry is anticipated to expand at a CAGR of 3.7% between 2022 and 2026 and reach US$ 20.8 Bn by 2026.
Demand for kraft paper packaging solutions that are reusable, lightweight, affordable, and environmentally friendly is increasing across the globe. This is anticipated to drive market development in the near future. Kraft paper packaging solutions are strong, practical, and biodegradable. This is expected to boost the market demand during the forecast period. Demand for kraft paper is rising continuously in end-use sectors such as building & construction, electronics & electrical, food & beverage, and medicines.
Usage of kraft papers is also increasing, as frustration-free packaging is adopted. Customized products are offered by manufacturers in the global market in an effort to increase sales. Rise in usage of e-commerce platforms is anticipated to drive industry growth.
Kraft paper is a robust and long-lasting packaging material that can be shaped into a variety of sizes and forms. Manufacturers are analyzing market trends in the global kraft paper industry in order to leverage growth prospects. Increase in usage of packaging and wrapping materials with anti-slip properties among premium brands is likely to open up attractive market prospects. Increase in usage of boxes and cartons is estimated to drive industry growth in the next few years.
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Market Scope:
| Market Revenue | USD 17.3 Bn | |
| Estimated Value | USD 20.8 Bn | |
| Growth Rate - CAGR | 3.7% | |
| Forecast Period | 2022 - 2026 | |
| No. of Pages | 312 Pages | |
| Market Segmentation | By Product Type, Basis Weight, Grade Type, Finish Type, Application, End-use Industry | |
| Regions Covered | North America, Latin America, Europe, Asia Pacific, Middle East & Africa | |
Key Findings of Market Report
- Boxes and cartons can be utilized for packaging, as they are reusable and environmentally friendly. The fluting material, which is used to manufacture boards for boxes and cartons, also acts as a shock absorber, thereby protecting wrapped products from external impact. Market participants are focusing on developing cutting-edge premium boxes and cartons to meet changing consumer demands. Growth in demand for boxes and cartons in various end-use industries is expected to boost the global market.
- Kraft paper is eco-friendly. It is becoming increasingly popular among consumers due to its texture and appearance. Kraft paper has grown in popularity among companies that create premium packaging. On kraft boxes, companies can print their logos, information about their products, and even artwork that includes marketing materials and contact details. Thus, kraft paper can be utilized as a branding strategy in various businesses. This is anticipated to boost the market value.
- Kraft paper is used in the food processing industry for packaging due to its affordability, robustness, printability, processability, and heat sealability. Kraft paper packaging is becoming popular among food producers owing to the rise in ban on single-use plastic by various governments across the world and growth in public awareness about such packaging options.
Global Kraft Paper Market: Regional Landscape
- According to the market report, Asia Pacific is anticipated to dominate the global industry during the forecast period. The number of real estate and infrastructure development projects has increased significantly in Asia Pacific over the last few decades. The building & construction industry uses kraft paper considerably in heavy-duty applications. Profitable existence of packaging manufacturers, rapid industrialization and urbanization, and abundant supply of raw materials are expected to boost market expansion in Asia Pacific. The usage of kraft paper is projected to increase in the near future owing to government initiatives to ban plastic packaging in several countries in Asia.
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Global Kraft Paper Market: Growth Drivers
- The trend of buying more products online has raised market demand for kraft packaging. Packaging industry uses kraft paper as a raw material due to its distinctive qualities, which include high compression performance, exceptional folding resistance, superior tear resistance, and toughness. Growth in e-commerce is driving the sales of paper and paperboard packaging items including cartons, boxes, envelopes, and bags. Thus, expansion in the e-commerce business is projected to drive industry growth in the next few years.
- Key players are concentrating on developing unique, recyclable packaging solutions. Globally, end-customers are becoming increasingly interested in packaging made of recyclable materials. The global Kraft Paper Market is anticipated to be driven by the rise in trend of using recyclable materials for packaging.
Global Kraft Paper Market: Key Players
Some of the key market players are
- Nippon Paper Industries Co. Ltd.
- Smurfit Kappa Group plc
- Potsdam Specialty Paper Inc.
- Natron-Hayat d.o.o.
- Georgia Pacific LLC
- Nordic Paper AS
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Global Kraft Paper Market: Segmentation
Basis Weight
- <30 GSM
- 30-90 GSM
- 91-120 GSM
- 121-200 GSM
- >200 GSM
Product Type
- Specialty Kraft Paper
- Sack Kraft Paper
Grade Type
- Bleached
- Unbleached
Finish Type
- Glazed
- Finished
Application
- Bags & Pouches
- Sacks
- Envelopes
- Corrugated Sheets
- Composite Cans
- Boxes & Cartons
End-use Industry
- Food & Beverages
- Pharmaceuticals
- Building & Construction
- Cosmetics & Personal Care
- Electronics & Electricals
- Other Consumer Goods
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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