The coated paper wraps segment is expected to dominate the paper wraps market, exhibiting a CAGR of 4.6%. Coated paper wraps are gaining popularity in the market due to their protective qualities, contributing to their widespread adoption.
With advantages such as durability, lightweight nature, barrier resistance, cost-effectiveness, and more, the plastic rigid packaging containers segment is projected to hold a significant share in the global rigid packaging containers market.
FMI Research predicts that the global paper wraps market will reach a valuation of US$ 7.6 billion in 2022. Throughout the projected period from 2022 to 2032, the market is expected to maintain a positive growth outlook. By 2032, it is estimated that the market will reach US$ 12.4 billion. Among the top three countries, the paper wraps market is anticipated to experience the highest growth, accounting for approximately 25-30% of the global market by the end of 2022.
For More Insights, Download Report Sample@ https://www.futuremarketinsights.com/reports/sample/rep-gb-13569
Competitive Landscape
The Key Players Are:
- WINPAK LTD.
- adapa Group
- ProAmpac
- Scientex Berhad
- BPM Inc.
- Palmer Packaging, Inc.
- Constantia Flexibles Group
Due to the global pandemic, a drastic change within the packaging industry was experienced which resulted in higher demand for paper wraps, hence, boosting the market growth over the projection period. The paper wraps market is predicted to expand 1.6 times the current market value throughout the forecast period. The paper wraps market is expected to experience a positive growth outlook over the forecast period due to its benefits such as durability, lightweight, barrier resistance, cost-effectiveness, and others.
Paper wraps are known as the best-suited alternative to plastic wraps, which have been drastically avoided by the end-use industries as well as by consumers due to their harmful effects on the environment. Several consumer products are wrapped in the paper during their transportation in order to protect the product from getting damaged by other external factors.
Paper wraps help in reducing the plastic waste from the packaging by over 33%. Several end-use industries utilize paper wraps such as food & beverage, electrical & electronics, cosmetics & personal care, home care, and others. The ever-expanding e-commerce sector is a prominent factor in augmenting the sales of paper wraps.
Ask your Questions Directly to Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-13569
Key Takeaways
- Wrapping material made with plastic is difficult to decompose and causes environmental pollution. Therefore, wholesalers, retailers, and suppliers are more attracted to paper packaging solutions such as paper wraps made from compostable raw materials and eco-friendly products.
- According to the reports by American Forest & Paper Association (AF&PA), the paper recycling rate was around 68%, and recovered more than 50 million tons of paper in 2021. The paper-based packaging is recycled more as compared to another packaging.
- Paper packaging emerged as an economical and eco-friendly form of packaging in comparison with other materials such as plastics and aluminum. The surging restrictions on the usage of plastic products and the ban on single-use plastics are increasing the demand for sustainable paper packaging solutions such as paper wraps. The growing demand for sustainable packaging is a significant factor responsible for driving the paper wraps market growth.
- The expansion of the e-commerce sector has augmented the sales of paper wraps as brands and companies are focusing on sustainable packaging solutions fueling the demand for paper wraps. Overall, the paper wraps market is projected to bolster at a faster pace during the forecast period.
Market Benefits:
- Comprehensive Analysis: The study offers a detailed analysis of the global Paper Wraps Market, providing insights into current trends and future estimations. This information helps investors identify potential investment opportunities.
- Competitive Outlook: The report thoroughly analyzes key market players and their strategies, offering a clear understanding of the competitive landscape. This knowledge enables stakeholders to make informed decisions and stay ahead in the industry.
- Application Analysis: An extensive analysis of the market based on application provides valuable insights into industry trends. This information helps businesses understand the demand dynamics and tailor their strategies accordingly.
- Quantitative Analysis: The report presents a quantitative analysis of the market from 2022 to 2032, allowing stakeholders to identify and capitalize on prevailing market opportunities. This data-driven approach assists in strategic planning and decision-making
Request Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-13569
Paper Wraps Market by Category
By Coating Type, Paper Wraps Market is Segmented as:
- Coated Paper Wraps
- Uncoated Paper Wraps
By Thickness, Paper Wraps Market is Segmented as:
- Up to 25 Microns
- 26-40 Microns
- 41-60 Microns
- Above 60 Microns
By End Use, Paper Wraps Market is Segmented as:
- Food & Beverage
- Electrical & Electronics
- Cosmetics & Personal Care
- Homecare
- Pharmaceuticals
- Others (Automotive, etc.)
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
LinkedIn| Twitter| Blogs
