Ongoing escalation across the packaging industry coupled with the rising demand for consumer goods will stimulate the global Kraft Paper industry
The global Kraft Paper market size is projected to reach nearly USD 20.4 billion by 2028. Additionally, the market is forecasted to grow a CAGR of above 3.1% over the forecast period of 2020-2028. Kraft Paper is manufactured from wood pulp, which possess printability properties and high toughness handling capacity and. It is widely used across the packaging industry for pouches, wrapping papers, bags, cans, corrugated sheets, and cartons. Kraft Paper has the capability to improve brightness through bleaching and is further capable of withholding heavy items. The product is witnessing significant penetration owing to its characteristics such as improved strength and durability in comparison to other available alternatives, which in turn is driving the product demand.
Shifting inclination toward flexible packaging owing to shifting end user focus toward minimizing the environmental degradation along with a rising adoption of paper recycling paper is anticipated to stimulate the industry upsurge. Furthermore, cost efficiency from Kraft paper on account of its recyclable nature is further reinforcing the business landscape. Moreover, stringent government regulations to limit the dependency on non-biodegradable material coupled with government efforts to reduce the carbon count will catapult the industry growth over the forecast timeframe.
The report also outlines the various characteristics of the global Kraft Paper industry by assessing the market from value chain analysis. Moreover, the Kraft Paper market report comprises various qualitative parts of the Kraft Paper industry in market restraints, essential industry drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.
The kraft paper market has huge competition amongst the already well-known and new market players. Also, the Kraft Paper industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
The kraft paper market is categorized into healthcare, food & beverage, construction, cosmetics & personal care, and others on the basis of application. The cosmetics & personal care is expected to expand at a growth rate of around 6% over the forecast period. The growing population across the globe in line with shifting inclination toward beauty in turn is expected to catapult the segment growth over the forecast timeframe.
North America is expected to witness a significant CAGR in the coming years. The ongoing development across healthcare sector along with significant improvements across the food & beverage sector. The shifting inclination toward food online food ordering and pick & carry trend region is positively impacting the industry size. In addition, positive outlook toward the construction sector on account of establishment of commercial complexes, and corporate offices is projected to favor the business outlook over the forecast timeframe.
The major players of the global Kraft paper market comprise of Mondi, Segezha group, Klabin, Billerudkorsnas, Stora Enso, Daio Paper Construction, Nordic Paper, and Glatfelter. The market for Kraft paper is consolidated with the presence of established global and domestic players across the globe. Moreover, the established companies are shifting focus toward establishing manufacturing facilities associated with the production of paper. Furthermore, the industry players are coming up with inorganic growth strategies to expand their market presence.
Segment Overview of Global Kraft Paper Market
Grade Overview, 2018-2028 (USD Billion) (Million Tons)
- Sack Kraft
- Paper Wrapping & Packaging
Application Overview, 2018-2028 (USD Billion) (Million Tons)
- Food & Beverage
- Cosmetics & Personal Care
Packaging Overview, 2018-2028 (USD Billion) (Million Tons)
- Grocery Bags
- Corrugated Bags
- Industrial Bags
Regional Overview, 2018-2028 (USD Billion) (Million Tons)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America