Kraft Paper Market Demand Analysis, Future Industry Growth 2034 |...

Kraft Paper Market Demand Analysis, Future Industry Growth 2034

نشر بتاريخ 2024-08-14 21:30:40

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The global kraft paper market is on a robust growth trajectory, with revenue expected to reach US$ 16.8 billion in 2024. Industry experts predict a steady compound annual growth rate (CAGR) of 2.4% through 2034, with the market anticipated to achieve a valuation of US$ 21.2 billion by the end of the forecast period.

Key Trends

1. Rise of Fast-Food Restaurants and Hectic Consumer Lifestyles: The burgeoning fast-food sector, driven by increasingly busy consumer lifestyles, is significantly boosting the demand for brown paper packaging. Kraft paper is gaining favor as an ideal substitute for traditional food paper due to its chemical-free nature, which ensures that it does not alter the taste or quality of food.

2. Eco-Friendly eCommerce Packaging: The growing emphasis on sustainability is pushing eCommerce businesses to adopt eco-friendly kraft paper solutions. Kraft paper is lighter and reduces unnecessary overspray, making it a popular choice among e-commerce companies looking to demonstrate their commitment to environmental responsibility.

3. Innovation and Expansion Opportunities: The biodegradable and natural properties of kraft paper present exciting opportunities for innovation and expansion across various industries, including cosmetics, food and beverage, and eCommerce. Leading manufacturers are well-positioned to capitalize on these trends, driving market growth over the next decade.

4. Government Regulations and Environmental Awareness: Governments worldwide are implementing stricter regulations on single-use plastics and promoting awareness about sustainable and biodegradable paper solutions. These policies are encouraging food manufacturers to shift towards kraft paper packaging, further fueling market growth.

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%.