Pune, March 23, 2022 (GLOBE NEWSWIRE) -- Paper products are commonly used for packaging many household goods such as food and beverages, textiles, electronics, cement, etc. They hold a significant position in the packaging industry today. Repro paper, powdered paper, tissue paper, newsprint paper, cardboard, paperboard, and decorative art paper are the most popular types of paper products.
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Packaging paper material has been reported to achieve recognition in a wide variety of markets, such as food and consumer goods. Certain factors impacting the growth of the industry are growing understanding of environmental concerns such as biodegradability, global warming and health issues generated by plastic packaging materials.This is a significant factor driving the growth of the market over the forecast period. Also, throughout developing as well as developed economies, the growing online shopping industry is a core factor for the global paper products market. The popularity of internet purchasing has contributed to a gradual rise in consumer numbers for e-commerce websites, resulting in a corresponding growth in demand for packaging materials and other materials required to ship and store the products.The global paper products market is expected to grow from USD 271.15 Billion in 2020 to USD 278.16 Billion by 2028 at a CAGR of 0.32% during the forecast period 2021-2028, according to the new report published by The Brainy Insights.
Increasing domestic usage of tissue papers, including toilet paper and facial tissue, napkins and paper towels, and other specific sanitary products are anticipated to fuel growth in the industry. Moreover, the rising demand from major retail, FMCG, healthcare, and hospitality industries for packaging paper is anticipated to boost the market growth. Rising technological advancements for paper-products have allowed processed paper to be produced with greater strength and longevity than plastic packaging materials, thus boosting the paper products demand. The increasing usage of the internet and the growing digitization of the global economy, however, can impede the market growth.
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Key players operating in the global paper products marketinclude First Quality Enterprises, Inc., Cascades, Inc., Nippon Paper Industries, Clearwater Paper Corporation, EssityAktiebolag, Georgia-Pacific, International paper,Nine Dragons Paper, Irving Consumer Products Limited, Kimberly-Clark Corporation, KP Tissue, Inc., OjiPaper, Procter & Gamble, SCA, SmurfitKappa, ST Paper LLC, Stora Enso, UPM-Kymmene Corporation and West rock among others.The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global paper products industry.
• For instance, in 2017, First Quality Tissue, LLC an ultra-premium towel and fabric maker, announced that it will expand its operations in Lock Haven, Pennsylvania. First Quality Tissue is a part of a diversified network of corporations privately owned by First Quality family that manufacturers a range of adult, child and feminine care products, packaged paper items, bottled water, and non-woven manufactured goods.
• For example, in March 2018, SOFIDEL, an Italian tissue paper manufacturer, declaredthat it would begin the construction of its second tissue mill at Inola / Oklahoma, U.S.
• For instance, in November 2018, Cascades Inc. introduced a product range called Cascades PRO Signature in. The product range contains labels such as Cascades PRO Tuff Work, which has a strong absorption potential and can be used again.
The waste & recycled paper segment is anticipated to dominate the market during the forecast period
The raw material segment is divided intowaste & recycled paper, wood and agro residue. The waste & recycled paper segment is anticipated to dominate the market during the forecast period. This is because recycled packaging paper has become a popular trend in plastics waste reduction. Cardboard, paper and other materials may be recycled and used for packaging and shipment of all kinds of products.
The paperboard & packaging segment is anticipated to grow at a CAGR of around 0.4%in 2021-2028
The application segment includes writing & printing paper, paperboard & packaging, newsprint and specialty paper. Because the paperboard & packaging caters to industries including food & beverages, FMCG, textiles and pharmaceutical, the paperboard & packaging segment is anticipated to grow at the highest CAGR of around 0.4% over the forecast period.The segment is also estimated to dominate the market, owing to factors such as the increasing urbanization, the need for better quality packaging of FMCG goods sold across organized retail, and the demand for ready-to-eat food.
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Regional Segment Analysis of the Paper Products Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
Due to growing industrialization across the Asia Pacific region, the region led the global paper products market with a market share of 38.54% and a market value of 104.50 billion in 2020.Rising awareness about the adverse effects of plastic products and growing disposable income, especially in developing countries like China and India, are anticipated to boost the market growth. China, in particular, is the largest market in Asia Pacific due to the strong presence of key companies, such as Samson Paper Holdings Ltd and QuanzhouSinowise Machinery Co. Ltd. Therefore, the region is expected to be the fastest-growing region over the forecast period.
About the report:
The global paper products market is analysed based on value (USD billion), volume (kilotons), consumption (kilotons), imports (kilotons) and exports (kilotons).All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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