The Paper Core Market is on a trajectory of significant expansion, poised to reach a substantial valuation of US$ 4.9 billion by 2030. This projected growth, with a Compound Annual Growth Rate (CAGR) of 4.9% between 2022 and 2030, underscores the escalating prominence of paper and pulp packaging across diverse sectors of the economy. Escalating consumer demand for sustainable and recyclable packaging solutions is propelling this surge, prompting notable investments in the sector’s innovation landscape.
This heightened focus on environmentally friendly packaging is anticipated to foster the development of pioneering materials, advanced manufacturing processes, novel techniques, and appealing designs that cater to evolving consumer preferences. Consequently, the Paper Core Market is becoming an incubator for sustainable packaging practices, reflecting a larger movement towards eco-conscious consumption patterns. As the industry evolves, it not only meets contemporary market demands but also actively contributes to a greener, more responsible future for packaging, aligning with global sustainability objectives..
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The global paper core market is highly fragmented, with Tier-3 players accounting for 75% of the global market share. Profiled players include Advanced Paper Tube, Inc., YAZOO MILLS Inc., Smurfit Kappa Group, Sonoco Products Company, and CPPC Public Co. Ltd. And so on.
“Manufacturers are increasingly expanding into emerging economies, as consumers’ purchasing power has increased, e-commerce prospects have increased, and the need for robust packaging solutions has increased,” said FMI analysts. I am.COVID-19 Impact Analysis
As the world approaches the end of 2020, industry leaders are optimistic about post-pandemic recovery scenarios. With Pfizer, the pharmaceutical giant, launching vaccination procedures across the UK, analysts expect the vaccine to be available on a large scale in the coming months.
Important point Recycle paperboard to create profitable opportunities to reach US $ 1.4 billion by the end of 2020 High uptake is expected across the paper and polyester segments, reaching approximately 21,100 million units sold by 2025 Paper cores with a diameter of 230 mm or more will remain linchpins until 2030 High demand for hygiene products due to the pandemic crisis has led to a surge in hygiene and tissue paper applications in the short term The global paper core market could grow at a CAGR value of 4.9% by 2030
With up to 4 million doses expected by the end of December 2020, healthcare professionals expect strong antibody protection that people can reach without risk of infection. All these developments are welcome news for the global packaging industry.
Already, the packaging industry is witnessing a resurgence, with consumers relying on virtual platforms to buy essential products, especially health care and hygiene products. Sustainable demand for ready-to-eat foods and beverages may also stimulate the need for core paper packaging solutions and enable the market to embark on a consistent growth trajectory.
Key Highlights
- North America will generate more than two-fifths of the overall market revenue, simultaneously, East Asia will generate prolific growth prospects.
- Recycled paperboard is gaining huge popularity over the forecast period.
- The paper & polyester end-use sector is foreseeing a notable adoption of paper cores throughout the assessment period.
- Winding and rewinding applications will generate high growth prospects, gaining around two-fifths of the overall market revenue share.
Drivers
- Fiber-based packaging enhances the functionality and widens prospects for paper cores
- Steady demand for instant foods & beverages will encourage demand for paper-core packaging solutions, thus boosting market growth,
- Growing options for manufacturers for customizing paper core as per their needs is stimulating market growth.
Restraints
- Growing concerns for massive deforestation amid government agencies and environmentalists can create bottle necks for the manufacturers.
- The accessibility of lighter & smaller packages and use of other substitutes such as plastic cores can negatively influence the market.
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COVID-19 Impact on the Market
The demand for paper cores was influenced considerably, as supply chains disruptions rendered production majorly impossible. However, as the months progressed, production stages have been regressing to normal. Increasing e-commerce transactions for several producers and consumer goods have majorly helped sustain the need for paper core packaging solutions. Additionally, the flattening of virus curves has made it possible to restart on-site operations, even with strict social distancing protocols.
Competitive Landscape
Key players identified in the global paper cores market are Sonoco Products Company, Advanced Paper Tube, Inc., CPPC Public Co., Ltd., Eerste Nederlandse Rondkartonnagefabriek B.V. (ENR), YAZOO MILLS Inc., Eco Canister, Kunert Group, Smurfit Kappa Group, Hansen Packaging, Callenor Co Inc., ALBERT EGER GmbH & Co. KG, ImPakt packaging, Ace Paper Tube Corporation, Western Container Corporation, Valk Industries, Inc., Romiley Board Mill., and Chicago Mailing Tube Co.
As a result of extremely competitive scenario, market players are depending on numerous growth strategies to consolidate their impressions. A few of the key strategies incorporate strategic collaborations with research institutions, capacity expansion, and technological progressions to further innovative product launches.
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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