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WILMINGTOM, Del. , Jan. 9, 2023 /PRNewswire/ -- The global market for kraft paper products is anticipated to expand at a compound annual growth rate (CAGR) of 3.7% during 2022 - 2026. The global kraft paper market was worth US$ 17.3 Bn in 2021 and is expected to reach US$ 20.8 Bn by 2026. Kraft paper products are affordable, durable, and are strong packaging solutions. This paper solution can be molded into various shapes and come in different sizes. They are used in a range of end-use industries, including pharmaceuticals, food and beverages, electronics and electricals, and building and construction. Increase in preference for lightweight, reusable, environment-friendly, and cost-efficient kraft paper packaging solutions is expected to fuel market development in the coming years. Gloss Art Paper
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Kraft Paper Market: Key Findings of Report
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Kraft Paper Market: Growth Opportunities
Kraft Paper Market: Key Players
Prominent players in the global kraft paper market include Mondi Group, International Paper Company, Georgia-Pacific LLC, WestRock Company, and Smurfit Kappa Group. These companies engage in corporate growth and expansion strategies, including collaborations, merger and acquisitions, and research and development for product inventory expansion, facilitating new product launches. Additionally, companies are engaged in expanding their regional presence in order to attract end-users from a wide range of industries. Some players shifted their focus toward development of next-generation technology-based packaging solutions during the COVID-19 pandemic to generate attractive revenue sources.
Kraft Paper Market: Regional Growth Assessment
As per the latest market analysis, Asia Pacific is expected to lead the global kraft paper industry, in terms of market share, during the forecast period due to the increase in demand for sustainable packaging solutions in the region. Expanding population and rise in standard of living in nations such as India and China are driving the demand for kraft paper packaging solutions from food & beverages, electronics & electricals, and pharmaceuticals industries. Additionally, increase in adoption of e-commerce platforms in the region is further boosting market growth.
North America is also expected to hold a significant share in the global kraft paper market due to the presence of a large number of key players in the region. The increase in demand for sustainable packaging solutions in the region is driving market growth. Europe is also expected to witness significant growth in the market due to the rise in adoption of kraft paper packaging solutions in the food and beverages, electronics and electricals, and pharmaceuticals industries.
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Kraft Paper Market: Basis Weight
Kraft Paper Market, by Product Type
Kraft Paper Market, by Grade Type
Kraft Paper Market, by Finish Type
Kraft Paper Market, by Application
Kraft Paper Market, by End-use Industry
Kraft Paper Market, by Region
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