Kraft Paper Market to Reach US$ 20.8 Bn by 2026, TMR Study

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Jan 09, 2023, 09:30 ET

Increase in customer demand for reusable, lightweight, eco-friendly, and affordable kraft paper solutions for packaging purposes boosts market demand
Growth of the e-commerce sector propels market expansion

WILMINGTOM, Del., Jan. 9, 2023 /PRNewswire/ -- The global market for kraft paper products is anticipated to expand at a compound annual growth rate (CAGR) of 3.7% during 2022 - 2026. The global kraft paper market was worth US$ 17.3 Bn in 2021 and is expected to reach US$ 20.8 Bn by 2026. Kraft paper products are affordable, durable, and are strong packaging solutions. This paper solution can be molded into various shapes and come in different sizes. They are used in a range of end-use industries, including pharmaceuticals, food and beverages, electronics and electricals, and building and construction. Increase in preference for lightweight, reusable, environment-friendly, and cost-efficient kraft paper packaging solutions is expected to fuel market development in the coming years.

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Kraft Paper Market: Key Findings of Report

Increase in Adoption of E-commerce Platforms: The growing trend of shopping for consumer goods using various e-commerce platforms has stimulated demand for affordable kraft packaging solutions. This trend is providing attractive growth opportunities for key players. Kraft paper products are used as raw materials for manufacturing various solutions in the packaging industry. This can be attributed to its unique properties, such as excellent resistance to folding, toughness, good resistance to tear, and compression performance. Expansion of the e-commerce industry is driving the sale of paper & paperboard packaging products such as bags, envelopes, boxes, and cartons, thus fueling market progress.
Growing Usage of Recyclable Material for Packaging: Leading players are focusing on designing and manufacturing innovative new solutions for recyclable packaging, which is anticipated to propel market demand during the forecast years. Growth in the popularity of completely recyclable packaging materials is also contributing to market growth.
Rise in Adoption of Carton and Box Products from Various End-use Sectors: Demand for boxes and cartons is increasing globally, driving the market prospects. Boxes and cartons are used in a wide range of industries, including electronics and electricals, food and beverages, cosmetics and personal care, building and construction, and pharmaceuticals. Rise in adoption of boxes and cartons in these industries is augmenting the global kraft paper market.

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Kraft Paper Market: Growth Opportunities

Rise in trend of using recyclable material for packaging industry bolsters market expansion
Increase in adoption of boxes and cartons in end-use industries propels market growth
Government regulations promoting the use of sustainable packaging solutions enable market expansion

Kraft Paper Market: Key Players

Prominent players in the global kraft paper market include Mondi Group, International Paper Company, Georgia-Pacific LLC, WestRock Company, and Smurfit Kappa Group. These companies engage in corporate growth and expansion strategies, including collaborations, merger and acquisitions, and research and development for product inventory expansion, facilitating new product launches. Additionally, companies are engaged in expanding their regional presence in order to attract end-users from a wide range of industries. Some players shifted their focus toward development of next-generation technology-based packaging solutions during the COVID-19 pandemic to generate attractive revenue sources.

Kraft Paper Market: Regional Growth Assessment

As per the latest market analysis, Asia Pacific is expected to lead the global kraft paper industry, in terms of market share, during the forecast period due to the increase in demand for sustainable packaging solutions in the region. Expanding population and rise in standard of living in nations such as India and China are driving the demand for kraft paper packaging solutions from food & beverages, electronics & electricals, and pharmaceuticals industries. Additionally, increase in adoption of e-commerce platforms in the region is further boosting market growth.

North America is also expected to hold a significant share in the global kraft paper market due to the presence of a large number of key players in the region. The increase in demand for sustainable packaging solutions in the region is driving market growth. Europe is also expected to witness significant growth in the market due to the rise in adoption of kraft paper packaging solutions in the food and beverages, electronics and electricals, and pharmaceuticals industries.

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Kraft Paper Market: Basis Weight

<30 GSM
30-90 GSM
91-120 GSM
121-200 GSM
>200 GSM

Kraft Paper Market, by Product Type

Specialty Kraft Paper
Sack Kraft Paper

Kraft Paper Market, by Grade Type

Bleached
Unbleached

Kraft Paper Market, by Finish Type

Glazed
Finished

Kraft Paper Market, by Application

Bags & Pouches
Sacks
Envelopes
Corrugated Sheets
Composite Cans
Boxes & Cartons

Kraft Paper Market, by End-use Industry

Food & Beverages
Pharmaceuticals
Building & Construction
Cosmetics & Personal Care
Electronics & Electricals
Other Consumer Goods

Kraft Paper Market, by Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

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