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Kraft Paper Market Size To Reach USD 22.38 Billion By 2028 – Reports And Data

The global kraft paper market is expected to be valued at USD 22.38 Billion by 2028 from USD 17 Billion in 2020, and register a CAGR of 3.5% over the forecast period. Growth of the market is majorly attributable to rising demand for sustainable and recyclable materials for packaging from various end-use industries. Kraft paper is manufactured…

The post Kraft Paper Market Size To Reach USD 22.38 Billion By 2028 – Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

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The global kraft paper market is expected to be valued at USD 22.38 Billion by 2028 from USD 17 Billion in 2020, and register a CAGR of 3.5% over the forecast period. Growth of the market is majorly attributable to rising demand for sustainable and recyclable materials for packaging from various end-use industries. Kraft paper is manufactured from wood pulp through pulverizing process and blending with strong wood filament. However, high cost of kraft paper coupled with rising awareness regarding deforestation and resulting environmental impact of paper manufacturing are some key factors restraining growth of the market to some extent currently.

Increasing demand for recycled paper bags and kraft paper over polyethylene for carrying and packaging products at supermarkets and malls such as food products is expected to open up a range of lucrative opportunities for growth of companies operating in the market. In addition, rising preference for materials that are compliant with green regulations suggested by FDA is boosting demand for kraft paper and the trend is expected to continue over the forecast period.

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Major players in the kraft paper market include

  • Mondi
  • Segezha Group
  • Klabin
  • Billerudkorsnas
  • Stora Enso
  • Daio Paper Construction
  • Nordic Paper
  • Glatfelter
  • Gascogne Papier.

Kraft paper has robust applications across the food & beverage industry for packaging of food and groceries. The production of carryout bags, shopping bags, butcher bags, gift wraps, and other shipping sacks has increased substantially owing to rising awareness among consumers about benefits of eco-friendly materials and easy availability of these bags.

Some Key Findings in the Report

  • Among the application segments, the building & construction segment is projected to account for largest revenue share in the global kraft paper market and maintain its dominance over the forecast period. Growth of this segment can be attributed to kraft paper finding a range of applications in the construction industry and for material application and product packaging owing to good resistance to temperature and water.
  • Among the grade segments, the bleached paper segment is expected to account for dominant revenue share in the kraft paper market, with the trend continuing over the forecast period. This growth can be attributed to growing acceptance of bleached paper owing to superior properties over regular kraft paper such as higher strength.
  • Among the packaging form segments, the corrugated segment is expected to account for leading revenue share in the global market and maintain its dominance over the forecast period. This growth is attributable to increasing demand for improved protection for goods during transportation. The recyclable and reusable nature of corrugated material is leading to increasing end-use and consumer inclination toward this type of packaging material.
  • North America is expected to lead in terms of market revenue share over the forecast period, driven by significant revenue contribution from the US and Canada.
  • Europe is expected to account for second-largest revenue share in the global kraft paper market and maintain its position over the forecast period. This growth is attributable to increasing rate of paper recycling coupled with rising awareness about the environment.
  • Revenue from the market in Asia Pacific is projected to expand at a fastest CAGR during the forecast period owing to increase in demand for kraft paper for packaging of goods in countries in the region.

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For the purpose of this report, Reports and Data has segmented the global kraft paper market on the basis of grade, packaging form, application, and region:

By Grade Outlook (Revenue, USD Billion; 2018-2028)

  • Unbleached
  • Bleached
  • Wrapping & Packaging
  • Sack Kraft Paper
  • Others (Vegetable Parchment, Greaseproof, and Glassine)

By Packaging form Outlook (Revenue, USD Billion; 2018-2028)

  • Corrugated Boxes
  • Grocery Bags
  • Industrial Bags
  • Wraps
  • Pouches
  • Envelopes

By Application Outlook (Revenue, USD Billion; 2018-2028)

  • Foods & Beverage
  • Pharmaceuticals
  • Building and Construction
  • Cosmetics & Personal Care
  • Others

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Regional Outlook (Volume: Kilo Tons; Revenue: USD Billion; 2018-2028)

  • North America
  • Europe
  • Asia Pacific
  • MEA
  • Latin America

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About Reports and Data

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The post Kraft Paper Market Size To Reach USD 22.38 Billion By 2028 – Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.

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