The Kraft paper market is experiencing significant growth as sustainable packaging solutions gain traction worldwide. Recognized for its durability and eco-friendly properties, Kraft paper is increasingly favored by industries seeking alternatives to traditional packaging materials. This article explores the driving forces behind this trend and the implications for the global market.
The global kraft paper market value is expected to rise from US$ 16.8 billion in 2024 to US$ 21.2 billion by 2034. This estimated growth is expected to be driven by a steady CAGR of 2.4% in the kraft paper market over the next decade. Paper Lids For Cups
The rising popularity of fast-food chains, driven by our busy lifestyles, is boosting the demand for brown paper packaging. Kraft paper stands out as an ideal alternative due to its chemical-free composition, which ensures no impact on food taste and maintains food quality.
There's also a growing trend in using eco-friendly kraft paper in eCommerce to demonstrate a commitment to sustainability. Its lightweight nature reduces unnecessary waste, making it a preferred choice for online businesses.
Leading manufacturers see promising opportunities for innovation and growth ahead. Kraft paper's biodegradable properties make it appealing across various sectors such as cosmetics, food and beverage, and eCommerce.
Governments worldwide are increasingly restricting single-use plastics and promoting awareness about biodegradable paper solutions like kraft paper, encouraging food producers to adopt sustainable packaging options.
Inflating disposable incomes and changing customer attitudes toward eco-friendly paper solutions are spurring the adoption of kraft paper-based packaging among multiple industries like personal care, food and beverages, and retail. Kraft papers are also instrumental in carving brand identity and loyalty among customers, thus fueling its adoption among different businesses. Due to their aesthetic appeal, kraft papers find varied use in various end-use industries.
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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.
Businesses are now seeking new ways to lower their environmental footprint, thus providing growth prospects to kraft paper businesses. This is going to assist customers in fulfilling their current needs while supporting a greener future. Additionally, key players are zeroing in on research and development to introduce new applications for kraft papers.
“Key players are investing their funds in research and development activities and collaborating with other players to expand the applications of kraft papers. This is expected to meet the evolving consumer demands for packaging. Players are expected to concentrate on high-growth markets like India, China, and Thailand in the next decade for higher profits as the focus on sustainability is sharpening in these countries,” says an Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Kraft Paper Market Report:
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%.
Competition Spurring Advancement in the Kraft Paper Market :
Key players in the market are deploying organic and inorganic market strategies. Several firms are concentrating their efforts on organic growth strategies like product approvals, product launches, events, and patents. The inorganic growth strategies leading players employ include partnerships, acquisitions, and collaborations. Such activities are expected to expand businesses and the customer base of market players.
Recent Instances that are Shaping the Kraft Paper Market
In October 2023, Naturepedic announced the execution of a novel kraft paper roll-packing machine, estimated to stop the entry of 55,000 pounds of plastic into landfills annually. The complete roll-packed product offering of Naturepedic, such as mattress toppers and EOS comfort layers, is going to be roll-packed in recyclable kraft paper as a substitute for plastic. The new kraft paper is completely recyclable and free from extra coatings.
In June 2023, Mondi, which is a leading producer of paper and paper, united with Syntegon, which is a manufacturer of paper and process machinery, to create a recyclable paper packaging solution composed of recycled fibers for dried fibers like sugar, flour, and pasta. The packaging utilizes EcoVantage kraft paper of Mondi, which ISEGA permits for the overall food packaging sector.
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Key Segments Profiled in the Global Kraft Paper Market Report:
Thermo Formed Containers The Middle East and Africa