Global Kraft Paper Market Size, Share And Growth Analysis For 2024-2033
Kraft Paper Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Kraft Paper Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, July 17, 2024 /EINPresswire.com/ -- The kraft paper market has experienced robust growth in recent years, expanding from $17.06 billion in 2023 to $17.88 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to strong economic growth in emerging markets and, rise in demand for ready-to-eat food products. growing e-commerce and rising inclination towards alternatives to plastics.
Strong Future Growth Anticipated
The kraft paper market is projected to continue its strong growth, reaching $21.29 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to the increasing government support, increase in awareness, and rapid urbanization.
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Growth Driver Of The Kraft Paper Market
The rapidly expanding packaging business is driving the kraft paper market. Kraft Paper is used in industrial and commercial packaging operations such as packing, wrapping individual items, bundling, and void fill because of its strength and durability. For instance, according to a report by Packaging Digest, in 2021, packaging was a trillion-dollar industry with industrial packaging, food packaging, and beverage packaging contributing to maximum sales. Therefore, the rapid expansion of the packaging business will propel the kraft paper market.
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Major Players And Market Trends
Key players in the kraft paper market include Mondi Group, Stora Enso, WestRock, Smurfit Kappa, Klabin S.A,Nine Dragons Paper Holdings, Billerud AB, Heinzel Group, Segezha Group, International Paper, JB Craft Paper LLP, BN Papers, Blue Mount Paper and Boards Limited, Shree Krishna Paper Mills and Industries Ltd.
Product Innovation is a key trend gaining popularity in kraft paper. Companies operating in the kraft paper market are introducing innovative specialty products with better durability and application.
Segments:
1) By Type: Virgin Natural Kraft Paper, Natural Recycled Kraft Paper, Black Kraft Paper, Colored Kraft Paper, White or Bleached Kraft Paper, Printed Kraft Paper
2) By Packaging Form: Corrugated Boxes, Grocery Boxes, Industrial Bags, Wraps, Pouches, Envelopes
3) By Grade: Unbleached, Bleached
4) By End User: Food And Beverages, Building And Construction, Electronics And Electricals, Cosmetic And Personal Care, Textile Manufacturing, Other End Users
Geographical Insights: North America Leading The Market
North America was the largest region in the kraft paper market in 2023.
Kraft Paper Market Definition
Kraft paper is made by the sulfate pulping process and it is of various grades such as bleached, unbleached, and others. The kraft paper is used for the packaging of materials.
Kraft Paper Global Market Report 20241 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Kraft Paper Global Market Report 20242 by The Business Research Company is the most comprehensive report that provides insights on kraft paper market size, kraft paper market drivers and trends, kraft paper market major players, kraft paper competitors' revenues, kraft paper market positioning, and kraft paper market growth across geographies. The kraft paper market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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