The latest report by IMARC Group, titled “Kraft Paper Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global kraft paper market report. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global kraft paper market size reached US$ 16.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.
Kraft paper represents a sheet of paperboard created from wood pulp or other recycling materials. Various chemicals that are added to this paper enhance its strength, thickness, and durability while maintaining its lightweight abilities. Standard varieties of kraft paper include colored, black, white, bleached, printed, etc. They can easily be recycled and reused and decompose completely. As a result, kraft paper finds widespread applications in several packaging applications, such as bags, composite cans, pouches, envelopes, cartons, sacks, etc.
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Kraft Paper Market Trends:
The shifting consumer preferences toward sustainable and compostable packaging materials, owing to the increasing awareness toward the detrimental impact of non-biodegradable and plastic variants, are among the primary factors driving the kraft paper market. Besides this, the extensive product utilization in gift wrapping, events, weddings, etc., on account of its aesthetic appeal, colorful creativity, and textured properties, is further augmenting the market growth. Moreover, the growing popularity of kraft paper in the e-commerce sector for packaging, owing to its various benefits, such as folding resistance, toughness, and high-strength compression performance, is also catalyzing the global market.
Apart from this, the escalating demand for a highly technical saturated sheet that can be customized to meet unique needs in partitions, countertops, and flooring applications is acting as another significant growth-inducing factor. Additionally, the launch of several policies by the government bodies to encourage the usage of recycling practices among the masses is also stimulating the market growth. Furthermore, the elevating product requirement in the printing and publication industries for manufacturing brochures, newspapers, magazines, pamphlets, etc., is expected to bolster the kraft paper market in the coming years.
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
Some of these key players include:
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Kraft Paper Market Growth Factors:
Apart from this, the wide adoption of kraft paper in industrial and construction applications, such as building insulation, flooring underlayment, and roofing materials, is impacting the market favorably. In line with this, extensive utilization in the packaging of food and beverage products, including coffee, tea, and snacks as it helps in retaining the freshness of the products and makes them an attractive choice for food and beverage manufacturers, thus supporting the overall growth. Moreover, several major companies are heavily investing in the manufacturing of enhanced quality kraft paper that is stronger, lighter, and more durable, contributing to the demand. Other factors, such as the rising popularity of kraft paper in the field of printing and publication and the widespread adoption of stand-up pouches and zipper pouches, are projected to propel the market further.
Key Market Segmentation:
Breakup by Product Type:
Breakup by Packaging:
Breakup by Application:
Breakup by Distribution Channel:
Breakup by Region:
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Key highlights of the Report:
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