The global kraft paper market is poised for substantial growth, with an estimated revenue of US$ 16.8 billion projected for 2024. According to insights from our paper domain experts, the kraft paper industry can anticipate a steady Compound Annual Growth Rate (CAGR) of 2.4% through 2034, culminating in a forecast valuation of US$ 21.2 billion by the end of the forecast period.
The Kraft Paper industry continues to witness significant growth and transformation, fueled by innovation, sustainability initiatives, and evolving consumer demands. As a leading player in this dynamic market, we are excited to share insights into five professional and attractive future growth opportunities, along with five industry trends shaping the landscape of Kraft Paper.
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Top Trends Driving Kraft Paper Sales:
- Rise of Fast-Food Culture: The burgeoning popularity of fast-food restaurants, driven by the fast-paced consumer lifestyle, is fueling the demand for brown paper packaging. Kraft paper emerges as the ideal substitute for food paper due to its chemical-free composition, non-intrusive impact on food taste, and preservation of food quality.
- Eco-Friendly eCommerce Solutions: The escalating adoption of eco-friendly eCommerce paper reflects businesses’ commitment to environmental sustainability. Kraft paper’s ability to minimize overspray and its lightweight nature contribute to its popularity among eCommerce enterprises.
- Innovative Potential in Multiple Industries: Leading manufacturers are poised to leverage the innovative potential of kraft paper across diverse sectors such as cosmetics, food and beverage, and eCommerce. Its biodegradable and natural properties make it an attractive choice for sustainable packaging solutions.
- Government Initiatives: Global governments are intensifying efforts to curb single-use plastic consumption and promote awareness of biodegradable alternatives. This push encourages food makers to embrace kraft paper packaging solutions.
- Rise of E-commerce Packaging: The booming e-commerce sector is driving the demand for efficient and sustainable packaging solutions. Kraft Paper, with its versatility and eco-friendly properties, is increasingly being adopted for e-commerce packaging applications, including shipping boxes, protective packaging, and mailers.
Kraft papers are extensively used in the packaging of foods and drinks owing to their versatility, safety, and sustainability. Since consumers are increasingly opting for safe and sustainable food and beverage paper, kraft papers are expected to witness lucrative opportunities in the future. Consequently, the food and beverage sector accounts for a leading share of the global kraft paper market.
Business Growth Drivers:
- Rising Eco-conscious Consumer Behavior: The increasing awareness and preference for eco-friendly products among consumers drive the demand for kraft paper, as it is a recyclable and biodegradable material, aligning with sustainable lifestyles.
- Booming E-commerce Industry: The growth of the e-commerce sector, coupled with the surge in online shopping, significantly boosts the demand for kraft paper packaging due to its durability and suitability for shipping and handling various products.
- Government Regulations Promoting Sustainable Practices: Stringent regulations and policies promoting sustainable packaging materials encourage businesses to adopt kraft paper, which is known for its minimal environmental impact compared to non-biodegradable alternatives.
- Versatility in Applications: The versatility of kraft paper extends its use beyond packaging to various industries such as retail, food and beverage, and manufacturing, contributing to sustained demand and market growth.
- Shift towards Plastic-Free Packaging: The global movement towards reducing plastic usage and seeking plastic-free alternatives amplifies the demand for kraft paper, which serves as an excellent substitute for traditional plastic-based packaging materials.
Key Takeaways:
- In the North America kraft paper market, the United States is predicted to expand at a CAGR of 2.2%, whereas Canada is anticipated to record a CAGR of 3.3% through 2034.
- In Europe, the United Kingdom kraft paper market is anticipated to register a significant CAGR of 3.6% through 2034.
- Within Asia Pacific, India, China, and Thailand, are expected to record CAGRs of 5.9%, 5.4%, and 4.8%, respectively, through 2034.
- Based on end use, the food and beverages sector is projected to account for a market share of 26.7% in 2024.
- Based on product type, the specialty kraft paper segment is estimated to acquire a value share of 82.5%.
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The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
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Market Segmentation:
Based on product type,
- Specialty kraft paper
- Sack kraft paper
Based on grades,
- Bleached
- Unbleached
- Coated
- Uncoated
Based on application,
- Corrugated boxes
- Grocery & shopping bags
- Multiwall sacks
- Carryout bags
- Others
Based on end use industry,
- Food & beverages
- Electronics
- Construction
- Cosmetics and personal care
- Textile
- Others
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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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