Thu, 09 Feb 2023

The global kraft packaging market was valued at around US$ 35.4 Bn in 2021. Kraft packaging sales are projected to increase at a healthy CAGR of 5.1%, to reach US$ 60.6 Bn by 2032. The global kraft packaging market is estimated to hold 4% of the global packaging market worth of US$ 914 Bn in 2022.

The boxes packaging type in kraft packaging market revenue totalled US$ 7.3 Bn in 2021, according to FMI analysis. By product type, bleached kraft paper segment is estimated to grow by a maximum of 900 basis points in the global kraft packaging market as it is sturdy, durable, recyclable, non-toxic, and aesthetically pleasing.

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Competitive Landscape

Leading kraft packaging players use a variety of marketing techniques, including acquisitions, partnerships, and expansions. They are also focusing on new product launches to improve their global presence.

Some of the recent developments include:

  • In July 2021, ProAmpac acquired sustainable kraft packaging manufacturer APC paper. APC paper is committed to manufacturing 100% recycled product and ProAmpac also believe in sustainable packaging so it has acquired APC paper.
  • In January 2021, Mondi Plc has started making its new kraft paper machine known as Czech mill, it will produce 100% recyclable kraft paper for shopping bags by using recycled and fresh fibres without compromising on strength.

Key Companies Profiled

  • Amcor plc
  • DS Smith
  • Packaging Boxes Pro
  • Sappi Limited
  • International Paper Inc.
  • Fshiny Packaging Manufacturer
  • Canadian Kraft Paper Ltd.
  • Foshan DXC Packaging Co., Ltd.
  • WestRock Company
  • Stora Enso Oyj
  • Smurfit Kappa Group plc

What Is The Outlook For Demand For Kraft Packaging?

"Rising Brown Paper Packaging Popularity Will Support Growth"

The popularity of fast-food restaurants is rising. Because of their busy schedules, customers are ordering food from restaurants and ready-to-eat food consumption has increased.

Not all packaging is appropriate for storing food items because some of the materials contain chemicals that degrade the flavour and quality of the food. Given that it doesn't contain any dangerous chemicals, maintains food quality, and doesn't alter the flavour of the food, kraft packaging is regarded as one of the best methods for storing food.

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2015-2021 Kraft Packaging Market Historic Outlook Vs 2022-2032 Forecast

Demand for kraft packaging is forecast to increase at a 5.1% CAGR over the assessment period, in comparison to the 3.3% CAGR registered between 2015-2021.

Kraft packaging is conquering the market due to its numerous benefits such recyclability, cost effectiveness, easy to customize & print, easy to ship, high compatibility. It is used in various industries such as food & beverages, building & construction, cosmetic & personal care, and e-commerce.

In packaging, the essential function is to secure the products during delivery and to the moment it reaches the consumers. Kraft packaging has high tear strength, does not break under pressure and tension, and protect the product while transportation. In terms of function, application, environmental protection and fashion, kraft packaging performs exceptionally well.

Global Kraft Packaging Market By Category

Product Type:

  • Bleached Kraft Paper
  • Unbleached Kraft Paper

Packaging Type:

  • Boxes
  • Bags
  • Pouches
  • Cartons
  • Clamshell
  • Wraps
  • Sacks
  • Others (Sachets, Mailers, Corrugated Sheet, etc.)

End Use:

  • Foods & Beverages
  • Pharmaceuticals
  • Building and Construction
  • Cosmetics & Personal Care
  • Electrical & Electronics
  • E-Commerce
  • Automotive
  • Textile
  • Agriculture

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Middle East & Africa
  • Oceania

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Related Reports

Machine Glazed Kraft Paper Market: The global machine glazed kraft paper market is estimated at US$ 9.3 Bn in 2022 and is projected to reach US$ 14.5 Bn by 2030

FMCG Packaging Market: The global FMCG packaging market is expected to reach US$ 418.8 Bn in 2022, with sales growing at a CAGR of 5.7% through 2032

Beverage Packaging Market: The global beverage packaging market is expected to secure US$ 156.7 Billion in 2032 while expanding at a CAGR of 4.1%

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The post Kraft Packaging Market forecasted to register 5.1% CAGR during forecast period 2022-2032 appeared first on Future Market Insights.

Original Source of the original story >> Kraft Packaging Market forecasted to register 5.1% CAGR during forecast period 2022-2032

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