Paper Wraps Market Anticipates a Remarkable CAGR of 4.9%, Surging to US$ 12.4 Billion by 2032: Future Market Insights

The Paper Wraps Market is on a trajectory of significant growth, as per Future Market Insights (FMI) research. Projections indicate a rise from a market valuation of US$ 7.7 billion in 2022 to a notable US$ 12.4 billion by 2032, reflecting a robust 4.9% Compound Annual Growth Rate (CAGR). A noteworthy trend is the dominance of the top 3 countries, anticipated to capture 25-30% of the global paper wraps market by the end of 2022.

Within the realm of materials, the plastic rigid packaging containers segment is set to play a pivotal role, driven by attributes like durability, lightweight nature, barrier resistance, and cost-effectiveness. Furthermore, coated paper wraps are poised to lead the market in terms of coating type, fueled by their ability to provide enhanced product protection through their coating properties. This segment is projected to achieve a CAGR of 4.6%, marking a significant development in the packaging landscape.

For More Insights, Download Report Sample: https://www.futuremarketinsights.com/reports/sample/rep-gb-13569

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.

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.

Competitive Landscape

The key market players are focusing on mergers and acquisition strategies in order to expand their resources. Such prominent companies are also focusing on developing new products to meet customer needs and the key players are focusing on upgrading their facilities to cater to the demand.

More Insights:

India's paper wraps market is anticipated to surge at a robust CAGR of 5.4% throughout the forecast period. Papers are extensively used within the packaging sector as they have excellent properties such as lightweight, flexibility, durability, and cost-effectiveness. The utilization of paper wraps in the packaging industry can be found in multiple sectors such as food & beverage, pharmaceuticals, household, and electronics.

China is expected to lead the global paper wraps market as it is expected to reach around US$ 1.5 Bn by the end of 2032. China is known as the leading producer of paper in the entire world due to which it is anticipated to top the global paper wraps market. China is one of the largest manufacturers of paper wraps. Easy availability of paper boosts the manufacturing process and through which big players can also supply their products according to the demand available.

Ask your Questions Directly to Analyst: https://www.futuremarketinsights.com/ask-question/rep-gb-13569

Paper Wraps Market by Category

By Coating Type:

Coated Paper Wraps
Uncoated Paper Wraps

By Thickness:

Up to 25 Microns
26-40 Microns
41-60 Microns
Above 60 Microns

By End Use:

Food & Beverage
Electrical & Electronics
Cosmetics & Personal Care
Homecare
Pharmaceuticals
Others (Automotive, etc.)

Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA

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

This release was published on openPR.