Converting paper is a specialty paper widely used in flexible packaging applications such as pouches, bags, labels, and other similar products. It finds usage in food packaging for dried fruits, candies, snacks, and other fast-moving consumer goods. The paper is coated or treated to achieve required properties like grease resistance, high strength, moisture retention etc. making it suitable for direct contact with food items.

The global converting paper market is estimated to be valued at US$ 498.41 Mn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
One of the key drivers for the growth of converting paper market is the rising demand from the packaging industry. The packaging industry has been witnessing high growth owing to factors such as increased consumption of consumer goods, changing lifestyles and preferences of people. As converting paper finds major application in flexible packaging of various food items, cosmetics and other products, the demand from packaging industry is estimated to increase significantly. It is projected that the flexible packaging sales will rise at over 5% annually till 2026. Also, converting paper provides advantages like printability, moisture retention and grease resistance making it a preferred choice for food packaging applications. This growing demand from packaging sector is expected to support the market growth of converting paper over the forecast period.

SWOT Analysis

Strength: The converting paper market has strong growth potential due to rising demand for paper-based packaging solutions from various end-use industries such as food and beverages. Converting paper products are sustainable and biodegradable in nature. There is a growing preference for eco-friendly packaging among consumers.

Weakness: Fluctuations in raw material prices can increase the overall production costs for converting paper. Growing environmental concerns related to deforestation for paper production.

Opportunity: Developing regions of Asia Pacific and Latin America offer lucrative growth opportunities owing to rising industrialization. Growing e-commerce sector stimulates demand for effective packaging solutions.

Threats: Shift towards digital mediums pose a major threat for printing paper. Stringent government regulations to curb carbon emissions and reduce deforestation.

Key Takeaways

Global Converting Paper Market Size is expected to witness high growth over the forecast period of 2024 to 2031. Rapid industrialization and expanding packaging industry are key factors that will drive the demand for converting paper products. Growth in various end-use industries such as food and beverages, healthcare, and personal care and cosmetics will augment the market expansion. Rising urbanization and changing lifestyles and consumption patterns are also prompting the need for effective packaging solutions. The global converting paper market is estimated to be valued at US$ 498.41 Mn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031.

Regional analysis related content comprises
The Asia Pacific region currently dominates the global converting paper market and the trend is expected to continue during the forecast period. This can be attributed to strong growth of industries such as food and beverages, chemicals, pharmaceuticals, and consumer goods in developing countries of Asia Pacific. China, India, Japan, and Indonesia contribute significantly to the regional market share. North America and Europe follow Asia Pacific in terms of market size owing to well-established industries.

Key players related content comprises
Key players operating in the converting paper market are GlaxoSmithKline, Novartis, Merck, Abbott, Boehringer Ingelheim, AstraZeneca, F. Hoffmann-La Roche, Johnson & Johnson, Eli Lilly and Company, Novo Nordisk, Sanofi, Pfizer, Amgen and Gilead Sciences. These players are focused on new product launches and strategic collaborations to strengthen their market position.

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