Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Paper Products market.
Trusted Business Insights presents an updated and Latest Study on Paper Products Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Paper Products market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Industry Insights, Market Size, CAGR, High-Level Analysis: Paper Products Market
The global paper products market size was estimated at USD 268.8 billion in 2018 and is expected to register a CAGR of 0.3% from 2021 to 2026. This growth is primarily attributed to the rising demand for packaging paper by major companies in the retail, FMCG, pharmaceutical, and hospitality industries. Increasing technological developments for paper-based products have enabled the manufacturing of processed paper with higher strength and durability than plastic packaging materials.
It has been observed that packaging paper material is gaining acceptance in a wide range of industries, such as food and consumer products. Other factors affecting the market growth are rising awareness about environmental issues like biodegradability, global warming, and health problems created by plastic packaging materials. The Quick Service Restaurant (QSR) industry is also one of the major consumers of paper products.
Thus, rapid expansion of QSR market has added to the product demand. Shifting preference for off-premises consumption of food on account of busy schedules is expected to drive the product demand further. In addition, availability of freshly cooked food in franchises and food trucks has also witnessed an upsurge and have added to the demand. For instance, global food chain McDonalds provide all their orders in paper packages.
Recycled packaging paper has become a popular trend to reduce the plastic waste. Cardboard, paper and other materials can be recycled and used for different kind of product packing and shipment. Leading companies are investing on paper products. For instance, PepsiCo, Inc. has committed to provide 100% recyclable packaging by 2025. Walmart has declared to provide recyclable packaging for all the private level brands.
Application Insights of Paper Products Market
Packaging paper was the largest application segment in 2018. It is further expected to grow at a CAGR of 0.6% from 2021 to 2026. Major factors responsible for the growth include the product features like biodegradability and recyclability. Initially, packaging segment was dominated by plastic materials. However, innovation in packaging paper technique has disrupted the market as these materials can be manufactured in a cost-efficient method.
Some of the manufacturers offer customizable paper packages to meet the specific needs of the customer. Some of the customized paper bag suppliers are PAPER MART, Barry Packaging, and Etsy, Inc. Printing and writing was the second-largest segment. Offset printing and laser images are the major categories that create product demand in this segment.
Regional Insights of Paper Products Market
Asia-Pacific was the largest market for paper products in 2018 and accounted for 36.65% of the market share. Key factors behind this growth include growing industrialization across the region. Newsprint category is facing a little slowdown as consumers are shifting toward digital platform. Asia Pacific is the fastest-growing regional market with a CAGR of 2.3% from 2021 to 2026.
Increasing awareness about the adverse effects of plastic products and growing disposable income, especially in developing countries like China and India, are expected to boost the market growth. Rapid industrialization is also projected to contribute to the market development. China, in particular, is the largest market in Asia Pacific due to the strong presence of key companies, such as Quanzhou Sinowise Machinery Co. Ltd. and Samson Paper Holdings Ltd.
Market Share Insights of Paper Products Market
The market is highly competitive with the presence of many private level brands. Some of the major companies in this market are Kimberly-Clark Corporation; Procter & Gamble; Georgia-Pacific; KP Tissue, Inc.; Essity Aktiebolag (publ); Cascades, Inc.; Irving Consumer Products Limited; Clearwater Paper Corporation; First Quality Enterprises, Inc.; and ST Paper LLC. Companies are focusing on technological advancements, new product development, and market expansion to increase their sales and sustain the market competition.
They are also focusing on mergers & acquisitions to expand their product portfolio and geographical presence. For instance, in 2017, Essity Aktiebolag (publ) invested about USD 105 million at a plant in Mexico to increase its tissue offering under the Regio brand. This helped the company in increasing their sales along with production share in the region. The transportation and mileage costs reduce if the manufacture warehouse is located nearby. The operators are competing on the basis of tender for machinery services, mainly in case of large production projects.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Paper Products Market Research Report
This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global paper products market report on the basis of application and region:
Application Outlook (Volume, Million Tons; Revenue, USD Billion, 2019 – 2030)
Sanitary & Household
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