The global paper recycling market is poised for significant growth, with projections indicating a value of US$ 7.5 billion in 2024, compared to US$ 7.1 billion in 2023. Over the period from 2024 to 2034, the market is expected to grow at a moderate rate, with a Compound Annual Growth Rate (CAGR) of 5.7%, reaching a value of US$ 13.1 billion by the end of the forecast period.
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Market Analysis:
The demand for recycled paper has surged, driven by its acceptance as a packaging product in various industries such as food & beverage and pharmaceutical. Environmental concerns have heightened, leading to a preference for paper usage over non-biodegradable plastic materials.
With growing aversion towards deforestation, there is a rapid shift towards using recycled paper, contributing to the market’s growth. Government initiatives play a significant role in driving demand for recycled paper by promoting its use and imposing strict regulations on non-biodegradable alternatives.
The production of recycled paper is diverse, ranging from personal use at homes to large-scale industrial plants. This wide scope for production and application presents ample opportunities for market growth.
Key Drivers of Market Growth:
- Environmental Awareness: Increasing concerns about environmental sustainability have fueled the demand for recycled paper as an eco-friendly alternative to non-biodegradable materials.
- Government Initiatives: Government efforts to promote the use of recycled paper through incentives and regulations have bolstered market growth and encouraged sustainable practices.
- Preference for Sustainable Packaging: Industries across various sectors, including food & beverage and pharmaceuticals, are increasingly opting for sustainable packaging solutions, driving demand for recycled paper.
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The FMI’s report includes an interesting chapter on preliminary impact of the COVID-19 on the Paper Recycling market. This allows both leading and emerging market players to understand the market scenario during a crisis and aids them in making sound decisions to gain a distinct competitive edge.
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Competition Analysis
The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Paper Recycling market. Competitive information detailed in the Paper Recycling market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Paper Recycling market report.
Key players covered in the report include:
Hanna Paper Recycling, Inc., International Paper Company, DS Smith Recycling Holding B.V., Waste Management Inc., WestRock Company, WM Recycle America, LLC, Sonoco Recycling LLC, Caraustar Industries, Inc., Pratt Industries, Inc., Saica Group, Ricova Recycling.
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Important Questions Answered in the Paper Recycling Market Report
- Which end user remains the top revenue contributor in different regional markets?
- At what rate has the global Paper Recycling market been expanding during the forecast period?
- How will the global Paper Recycling market look like by the end of the forecast period?
- What innovative strategies are adopted by Paper Recycling market players to stay ahead of the pack?
- What are the restraints affecting the growth of the global Paper Recycling market?
Key Offerings of the Report
- Growth Drivers and Opportunities: Comprehensive analysis on growth-driving factors and opportunities for market players in different regional markets
- Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
- Segmental Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
- Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with necessary information to take critical decisions
- Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Paper Recycling market