In 2023, the kraft packaging market may be worth around US$ 38.9 billion. Sales of Kraft packaging are anticipated to grow at a strong CAGR of 5.3%, reaching US$ 65.2 billion by 2033.
The kraft paper market is developing at a moderate rate, with significant growth rates over the last few years, and it is expected to increase significantly in the anticipated period.
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Sustainable Packaging: A Catalyst for Market Growth in the FMCG and Construction Sectors
The kraft packaging market is expanding due to the developing nations’ quick industrialization and urbanization. Global trade has developed due to these nations’ strong expansion in the FMCG and construction industries, fueling strong demand for packaging materials. Growing consumer preference for biodegradable and recyclable packaging materials due to increased environmental awareness and concerns is a major driver of market expansion.
Market expansion for kraft packaging can be supported by rising consumer preference for paper-based packaging materials and a shift in consumer preferences towards recyclable packaging options.
Challenges for Sustainable Kraft Packaging
The profitability of Kraft packaging makers is under strain due to the rising cost of raw materials like paper and wood pulp. The sustainability of Kraft packaging, which is made from trees and is subject to restrictions regarding deforestation and carbon emissions, needs help.
Continuous innovation and distinction are required due to the competition from substitute packaging materials like plastics and biodegradable materials. The lack of qualified labor and technological developments needed for effective kraft packaging manufacture hampered market expansion for kraft packaging.
From Plastic to Kraft: Seizing Opportunities in the Anti-Plastic Movement
There is a growing demand for environmentally friendly and sustainable packaging solutions. Kraft packaging, manufactured from recycled materials, fits nicely with this trend and provides a more environmentally responsible solution. E-commerce has created a demand for dependable, long-lasting packaging that protects products throughout transit. Kraft packaging is an excellent solution for this application due to its robustness and adaptability.
The growing public awareness of plastic pollution and regulatory restrictions on single-use plastics are spurring the emergence of Kraft packaging as a viable alternative. This potential indicates a bright future for the kraft packaging business.
Regional Insights into the Kraft Packaging Market
Due to increased demand for kraft paper for packaging goods in the region, Asia Pacific revenue is expected to grow at a swift CAGR during the forecast period. Developing countries like India and China are experiencing fast industrialization and growth of manufacturing facilities, increasing demand for packaging materials.
These packaging methods ensure cost savings, increased packaged product safety, and sustainability, and application areas are expanding across various sectors. Another significant indicator accelerating market growth in the region is the expansion of the food and beverage, healthcare, and consumer durables industries.
Key Takeaways
- The United States may surge its market share by 16.2% between 2023 and 2033.
- Between 2023 and 2033, Germany may acquire 5.2% of the kraft paper packaging market.
- Japan’s share of the kraft paper packaging market can reach 6.4% between 2023 and 2033.
- Australia to grab a 2.8% share of the kraft packaging market from 2023 to 2033.
- During the forecast period, the Chinese kraft paper packaging market to expand at a CAGR of 4.9%.
- From 2023 to 2033, the United Kingdom kraft packaging industry registered at a 2.4% CAGR.
- Through 2033, the Indian kraft packaging market to evolve at a CAGR of 6.9%.
- Boxes segment of the packaging type category is predicted to acquire a market share of 20.6% by 2033.
- The e-commerce segment to grab a market share of20.3% in the end-use category between 2023 and 2033.
- North America’s market share could increase by 18.4% between 2023 and 2033.
- Europe may gain 24.3% of the kraft paper packaging market between 2023 and 2033.
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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
Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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