The Kraft liner market on a global scale is anticipated to witness steady growth, with a projected Compound Annual Growth Rate (CAGR) of 1.7% throughout the forecast period. Market valuation is expected to ascend from US$ 21,338.2 million in 2023 to reach US$ 25,606.3 million by 2033. In 2022, it was valued at US$ 20,988.6 million, and prospects for 2023 suggest a year-on-year (Y-o-Y) growth rate of 1.7%.
Kraft liner is a type of paperboard or cardboard material made from virgin wood pulp, primarily used for packaging purposes. It is known for its strength, durability, and eco-friendly characteristics, making it a popular choice for various packaging applications.
Increasing demand for plastic-free packaging solutions from food and retail industries is anticipated to contribute to the growth of the global Kraft Liner Market over the next decade. Moreover, paper and paperboard are anticipated to be the future of the packaging industry, owing to the negative perception of plastic across the globe.
Applications of kraft liner and test liner solutions are expected to increase over the forecast period, attributable to the ban on single-use plastic by governments in various countries, which is anticipated to motivate large brands and companies to use alternatives to plastic-based packaging in the foreseeable future.
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Here are some key points about the Kraft liner market up to September 2021:
- Growing Demand: The Kraft liner market had been experiencing steady growth due to increasing demand for sustainable and eco-friendly packaging solutions. Consumers and businesses were increasingly seeking alternatives to plastic packaging.
- E-commerce Boom: The surge in e-commerce activities and online shopping during the COVID-19 pandemic had a positive impact on the Kraft liner market. E-commerce companies often used Kraft liner materials for shipping boxes and packaging due to their strength and recyclability.
- Sustainability and Recycling: The environmental benefits of Kraft liner, including its recyclability and biodegradability, were driving its adoption. Many companies were making efforts to use sustainable packaging materials to meet consumer preferences and reduce their environmental footprint.
- Technological Advancements: Innovations in the manufacturing process of Kraft liner were leading to improved product quality and cost-efficiency. This allowed manufacturers to meet the rising demand effectively.
- Regulatory Factors: Environmental regulations and sustainability initiatives by governments and organizations were influencing the Kraft liner market. Companies were adapting to meet these regulations and promote their environmentally friendly packaging options.
- Competition: The market for Kraft liner was competitive, with several major players in the industry. Competition often led to innovation and the introduction of new products and solutions.
- Global Market: The Kraft liner market was not limited to a specific region but was a global industry. It was influenced by factors like economic conditions, consumer preferences, and government policies in different parts of the world.
- Challenges: While there was significant growth potential, the Kraft liner industry also faced challenges such as fluctuations in the cost of raw materials, transportation costs, and the need for continuous innovation to meet changing consumer demands.
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Key Takeaways of Kraft Liner Market Study
- Due to growing demand for packaged food across the world, food grade kraft liners are estimated to hold the largest market share during 2022-2029.
- Increasing demand for high strength and printable packaging solutions from large- to medium-scale enterprises is expected to offer lucrative opportunities to manufacturers offering bleached kraft liner solutions in the next decade.
- Corrugated boxes is estimated to be the leading segment in terms of application of kraft liner solutions, and is projected to remain the leading segment over the forecast period.
- e-Commerce end use is projected to witness fast-paced growth, owing to the high demand for kraft liner solutions from this industry, followed by electrical and electronics packaging.
- High growth in the manufacturing & retail sector, and increasing disposable income of consumers in China and India, make this region lucrative for investments. Manufacturers in the kraft liner market can focus on acquisitions and expansion in this region to improve their market share.
Competitive Landscape
Kraft liner manufacturers are focused on continuous improvement initiatives to optimize production processes, reduce waste, enhance operational efficiency, and control costs. This allows them to offer competitive pricing while maintaining product quality and meeting customer expectations.
They are working closely with customers to understand their specific packaging needs and develop customized solutions. This collaborative approach allows manufacturers to create tailored kraft liner products that meet their requirements, improve efficiency, and provide added value.
A few other players are investing in branding and marketing efforts to differentiate their products & build brand recognition. This includes showcasing unique features and benefits of their kraft liners, highlighting sustainability credentials, and actively promoting their capabilities through various channels. A few of these include trade shows, digital marketing, and industry publications.
For instance:
- DS Smith Plc partnered with Zeus, an Ireland-based global packaging company, to offer a Coffee Cup Recycling Scheme to the Ireland market.
- International Paper Company completed the sale of its India-based printing paper business, International Paper APPM Limited, to West Coast Paper Mills Limited.
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