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Kraft Paper Market was valued at US $ 17.9 Bn. in 2019 and is expected to witness a CAGR of 3.7% during the forecast period (2020-2028)
The rise in demand of Kraft papers in various end-use industries including food beverages, stationary and other household is the key factor driving the growth of the market. Growing environmental concerns among consumers have boosted the usage of eco-friendly products in various industries globally. This has led to a massive boost in demand of Kraft papers as packaging material. Kraft papers have high tensile strength and are available in different shape and colors inducing their usage in various industries. High sulfur ratio and less lignin content makes Kraft paper stronger than other paper that are used for packaging.
In addition to this, innovative Kraft papers with high durability and tear resistance technology is the other factor believed to flourish the growth of the Kraft paper market. Since, it is made up of softwood pulp and recyclable material that increases its tensile strength, fiber strength, elasticity making it durable but still light weight. High demand for Kraft pouches is estimated owing to ease of recyclability and bio-degradability. Stringent regulations related to usage of plastic in many nations is expected to fuel the growth of Kraft papers during the forecast period (2020-2028).
By Application, Food Industry is expected to witness high demand during forecast period Food Industry had accounted for a significant share of more than 55% in 2019
Kraft papers are highly used in food industry in form of wrapping papers, pouches, bags, corrugated sheets etc. Majority of consumers these days prefer consuming organic and healthy food wrapped in sustainable packaging. This is one of the reasons driving the Kraft paper market in food industry. The growing culture of take away food is also fueling the demand of Kraft papers in food industry. Many brands are using Kraft papers in food industry owing to its organic looking and light weight properties in food packaging. These papers are used in packaging of wraps, burgers, vegetables and fruits.
As plastic hazard free, Kraft papers are widely used owing to their properties such as biodegradability and recyclability. Manufacturers in Kraft paper industries are collaborating with food vendors to increase their sales and profit margins. Kraft papers are used for wrapping individual product, bundling and fill voids that helps in proper packaging of food and increase its shelf life.
By Product Type, Virgin Natural Kraft Paper is expected to Witness a CAGR Of 6.5% during Forecast Period
Virgin natural Kraft paper contributes majorly in end-use industries. Since its is completely recyclable and made from FDA approved food grade material, Its usage in food industry has increased immensely as they keep products fresh and free from bacteria, contamination and UV Light. It is highly elastic and tear resistant which enhances its usage in many industries. The usage of virgin natural Kraft paper in packaging and pharmaceutical industry is expected to growth its market even further during the forecast period.
North America Had Accounted For a Significant Share Of 29% in 2019 and Is Expected To Remain Dominant during the Forecast Period
The North America and Western Europe are expected to witness high growth as consumers are shifting towards biodegradable and zero waste packaging products. Asia Pacific is expected to drive the global Kraft papers market over the forecast period as growth in industrial activities is booming in this region, especially in China and India. Latin America is expected to register moderate growth in global Kraft papers market owing to growth of food industry in the region.
Competitive Landscape Analysis
Companies in kraft papers market are collaborating and acquiring other companies to remain competitive in the market. Companies invest in research and development to have innovative solutions that enhance the quality and performance of packaging products. Larger brands are acquiring smaller companies to expand their roots globally. The leading companies in Kraft paper market are Mondi Group Plc, Segezha group, Canadian Kraft Paper industries Ltd., WestRock Company, Klabin S.A, Natron-Hayat D.O.O,Stora Enso Oyj, Daio Paper Corporation, Uline, Goodwin Robins Packaging Company Inc., Mohit paper packaging industry, S.S.I Packaging Group, Nordic Paper Holding AB, Glatfelter, International Paper Company, SwissPac USA, Komar Alliance LLc, French Paper Co. and Pudumjee Paper Products.
Kraft Paper Market Segmentation:
- Cosmetic and personal care
- Food industry
- Others (Multiwall Sacks etc.)
By Packaging Type:
- Industrial Bags
- Grocery and shopping bags
- Corrugated boxes
By Product Type:
- Virgin Natural
- Black Kraft Paper
- Coloured Kraft Paper
- Poly Coated
- Sack Kraft paper
- North America
- Latin America
- Asia Pacific
- Middle East and Africa