The paper band market is predicted to be valued at US$ 608.5 million by 2024. The market valuation is estimated to be US$ 794.2 million by 2034, projected at a CAGR of 2.7%. The rise in demand for sustainable packaging solutions sustains the demand for the paper band market. With the rise in environmental concerns and regulatory pressures for reducing plastic waste, a boost in the preference for eco-friendly packaging materials such as paper bands can be seen.
The market witnessed steady expansion, driven by retaining demand for sustainable packaging solutions across various industries. Environmental concerns, regulatory initiatives promoting eco-friendly packaging, and consumer preference for recyclable materials contributed to the growth trajectory of the market during this period.
FMI forecasts a higher CAGR of 2.70% for the paper band market from 2024 to 2034. This projected growth reflects continued momentum in adopting paper bands as a preferred packaging solution, impelled by ongoing sustainability trends and maintenance of awareness of environmental stewardship.
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Key Takeaways from the Market Study
- Based on material type, the brown kraft is accounted to hold a market share of 73.1% in 2024.
- The United States is expected to register at a CAGR of 1.4% by 2034.
- The United Kingdom registers significant growth, projected at a CAGR of 1.3% by 2034.
- By end user, the e-commerce segment is accounted to hold a market share of 47.6% in 2024.
“The manufacturers maintain the adoption of paper bands as a packaging solution across various industries and consumers prioritize sustainable options. This demand for sustainability is a significant reason propelling the growth of the paper band market, which is one significant reason pushing the market,” comments a Future Market Insights analyst.
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Competitive Landscape
Regional manufacturers and emerging players contribute to competition, sustaining innovation and market growth in response to evolving customer demands for eco-friendly packaging solutions. Some key developments are:
- In 2023, Brown & Pratt, Inc. announced a key development in its paper band market strategy by launching a comprehensive sustainability initiative. The company introduced a new line of eco-friendly paper bands from recycled materials sourced from sustainable forestry practices.
- In May 2019, Fyffes North America Inc. produced a recyclable paper banana band for substituting it with plastic bags. The kraft paper band is made entirely of kraft pulp.
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More Valuable Insights Available
Future Market Insights offers an unbiased global paper band market analysis, providing historical data from 2018 to 2023 and forecast statistics from 2024 to 2034
To understand market opportunities, the paper band market is segmented based on Material (White Kraft, Brown Kraft), Product Type (Cohesive Paper Bands, Preformed Paper Bands), End Use (Food & Beverages, Personal Care & Cosmetics, Pharmaceutical, Electrical & Electronics, E-commerce, Other Industrial), and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).
About the Packaging Division at Future Market Insights
The packaging team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one million+ data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.
Key Segments
By Material:
- White Kraft
- Brown Kraft
By Product Type:
- Cohesive Paper Bands
- Preformed Paper Bands
By End Use:
- Food & Beverages
- Personal Care & Cosmetics
- Pharmaceutical
- Electrical & Electronics
- E-commerce
- Other Industrial
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
About Future Market Insights Inc. (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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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