The kraft paper market is projected to grow from USD 15.6 billion in 2019 to USD 18.7 billion by 2025, recording a CAGR of 3.0% during the forecast period. The rising demand for sustainable packaging solutions in various end-user industries such as food & beverages, pharmaceuticals, cosmetics & personal care, and building & construction, and the increasing urban population are factors that are projected to drive the growth of the kraft paper market across the globe. Moreover, the cost-effectiveness and eco-friendly features of kraft papers packaging solutions, improved product protection, and reduced environmental impact have led to increased adoption across the globe.
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The bleached segment is projected to grow at the highest CAGR from 2019 to 2025.
The bleached segment of the kraft paper market is projected to grow at the highest CAGR during the forecast period, in terms of both value and volume. The growth of this segment is attributed to the increasing demand for bleached kraft papers in various end-use sectors, including food & beverage, healthcare, and cosmetics & personal care. One of the key advantages offered by bleached kraft papers is high strength, durability, and aesthetic appeal. Moreover, bleached kraft papers are recyclable and sustainable packaging materials, which encourages its demand globally.
The corrugated boxes segment is estimated to lead the kraft paper market
Complex supply chains and networks in the food & beverages industry require several processes to be integrated, to enable the inbound and outbound flow of sustainable packaging. Currently, several food & beverage packaging producers are using sustainable packaging solutions to enhance the efficiency of their operations by reducing the lead time required for delivering products to manufacturers/suppliers. Corrugated boxes are sturdy and offer enhanced protection solutions during transit, due to which it witnesses high demand across industries, particularly for transporting different products to suppliers. The demand for kraft paper-based corrugated boxes is witnessing an increase in the food & beverage industry, as it is a cost-effective solution and offers a competitive advantage in the market.
Asia Pacific is projected to dominate the kraft paper market during the forecast period. This is attributed to the increasing demand for sustainable, cost-effective, and recyclable packaging solutions in densely populated countries such as India and China. In addition, the growing population in these countries widens the customer base for FMCG products, food & beverages, which in turn, is projected to drive the growth of the kraft paper market in the region. Moreover, factors such as industrialization, growing middle-class population, rising disposable income, changing lifestyles of customers, and increasing awareness among customers pertaining to low packaging waste are projected to drive the demand for kraft paper market in the region.
Companies such as Mondi (Austria), Segezha group (Russia), Klabin(Brazil), Billerudkorsnas (Sweden), Stora Enso (Finland), Daio Paper Construction (Japan), Nordic Paper (Sweden), Glatfelter(US), and Gascogne Papier (Austria) are the key players operating in the kraft paper market. Expansions, investments, divestments, new product developments, and acquisitions are some of the major strategies adopted by these key players to enhance their position in the kraft paper market.
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