The global kraft paper market share is estimated to gain a revenue of US$ 16.8 billion in 2024. Our paper domain experts opine that kraft paper providers can expect a consistent CAGR of 2.4% through 2034, with a forecast valuation of US$ 21.2 billion by 2034.
Top Trends Catalyzing Sales of Kraft Paper Solutions
· The increasing popularity of fast-food restaurants, spearheaded by the hectic consumer lifestyle, is catalyzing sales of brown paper packaging. Kraft paper solution is considered the best substitute for food paper as it is free from dangerous chemicals, does not bring variation in food taste, and maintains food quality.
· Surging utilization of eco-friendly eCommerce paper to communicate to clients the commitment toward the planet. Moreover, kraft paper significantly reduces unnecessary overspray and is lighter in weight, thus adding to its popularity among e-commerce businesses.
· Leading manufacturers are presented with the exciting potential to innovate and expand over the forecast period. The biodegradable and natural properties of kraft paper make it an attractive option in multiple industries like cosmetics, food and beverage, and eCommerce.
· Governments across the globe are pushing their limits on single-use plastic and promoting awareness about biodegradable and sustainable paper solutions, thus encouraging food makers to utilize kraft paper packaging.
Historical Growth of the Kraft Paper Market Vs. Forecast Outlook
The global kraft paper market is projected to scale from US$ 16.4 billion in 2023 to US$ 21.2 billion by 2034, registering a CAGR of 2.4% in the meanwhile. The following factors are propelling sales of kraft paper solutions:
Utilization of kraft paper is surging in various industries like building and construction, food and beverage, personal care, cosmetics, and eCommerce, owing to a plethora of advantages like cost-effectiveness, recyclability, ease of shipping, ease of customization, and high compatibility.
Rising demand for functional packaging solutions to protect the products during transportation is creating optimistic prospects for the kraft paper market. Since kraft paper is strong, durable, eco-friendly, aesthetic, and functional, it is finding heightened demand.
Country-wise Insights
Surging Demand for Sustainable Packaging Solutions to Propel Sales for Kraft Paper in Canada
The Canada kraft paper market is projected to register a CAGR of 3.3% through 2034. The following factors are projected to lead the market growth:
The increasing popularity of online retail in Canada, owing to its convenience and discount benefits, is anticipated to boost the accessibility of kraft papers among the Canadian population. In line with this, the expanding demand for eCommerce paper is predicted to have a positive impact on the sales of kraft paper.
Growing demand for eco-friendly paper solutions is projected to boost the appeal of kraft paper across different industries.
The expanding food and beverage paper industry is projected to induce demand for kraft paper over the forecast period.
Government Support for Sustainable Practices to Augment Demand for Kraft Papers in the United Kingdom
The United Kingdom kraft paper market is projected to account for a CAGR of 3.6% through 2034. Given below are the prominent factors backing the preference for kraft paper solutions:
A growing focus on ecologically friendly paper solutions, spearheaded by government initiatives to support sustainable practices, is expected to propel sales of kraft paper.
Technological breakthroughs in the production processes of kraft paper are projected to open up new business opportunities in the country.
eCommerce Boom to Push Sales of Kraft Paper in China
The China kraft paper market is anticipated to register a CAGR of 5.4% through 2034. The following factors are yielding demand for the product over the forecast period:
Increasing preference for kraft paper-based packaging that meets the demand for eco-friendly packaging options.
Surging eCommerce business, which is propelling the demand for robust and durable packaging materials like kraft paper to offer exceptional protection and strength to products during transit.
Rising acceptance of kraft paper in building brand aesthetics and identity is catalyzing demand for kraft paper.
Investors and Stakeholders Eyeing India as a Lucrative Pocket for Kraft Paper Business
The India kraft paper market is estimated to expand at a significant CAGR of 5.9% through 2034. Given below are the leading factors that are yielding market growth:
Increasing government support to deploy recyclable materials and reduce plastic waste are spurring sales of kraft paper in India.
Rising investment by key players in the country by setting up additional production units to meet the surging domestic as well as international demand for kraft paper owing to its unique attributes is expected to augment demand growth of kraft paper.
Thailand to Observe Significant Presence of Kraft Paper Manufacturers
The Thailand kraft paper market is anticipated to record a CAGR of 4.8% over the forecast period. The following factors are backing the growth of kraft paper in the country:
Increasing appeal for kraft paper throughout different industries, including food and beverages, paper, etc., is augmenting the sales of kraft paper.
Surging count of firms in Thailand offering a variety of paper products, including kraft paper, high-quality kraft liner, etc.
Extensive application of kraft paper solutions is expected to augment market scope over the next decade.
