Poly Coated Kraft Paper Market Drivers and Insights 2024

"The Business Research Company recently released a comprehensive report on the Global Poly Coated Kraft Paper Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The poly coated kraft paper market size has grown strongly in recent years. It will grow from $4.27 billion in 2023 to $4.51 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to packaging industry development, rise in e-commerce, sustainability trends, consumer demand for greener options, food packaging requirements.

The poly coated kraft paper market size is expected to see strong growth in the next few years. It will grow to $5.61 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to increased emphasis on sustainable packaging, growth in biodegradable packaging, stringent environmental regulations, customization and branding. Major trends in the forecast period include customization for branding and marketing, expansion of e-commerce packaging solutions, compliance with food safety regulations, growth in healthcare and pharmaceutical packaging, adoption of water-based coatings.

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Market Drivers and Trends:

The expansion of the e-commerce industry is expected to propel the growth of the poly coated kraft paper market going forward. E-commerce refers to the buying and selling of goods and services over the Internet. Polycoated kraft paper is essential in e-commerce for its ability to deliver robust and moisture-resistant packaging, guaranteeing the safety of products during transportation while also bolstering the overall structural integrity of packages. For instance, in November 2023, according to the United States Census Bureau, a US-based government agency, e-commerce sales in the third quarter of 2023 accounted for 15.6% of total sales. On a not-adjusted basis, the estimate of U.S. retail e-commerce sales for the third quarter of 2023 totaled $271.7 billion, an increase of 0.9 percent (±0.4%) from the second quarter of 2023. Therefore, the expansion of the e-commerce industry is driving the growth of the poly coated kraft paper market.

Product innovation is a key trend gaining popularity in the poly-coated kraft paper market. Major companies operating in the poly-coated kraft paper market are innovating new sustainable solutions to strengthen their market position. For instance, in July 2022, BillerudKorsnäs, a Sweden-based paper mill company, launched a new sack paper, Performance White Barrier, which eliminates the need for plastic film barriers commonly found in paper sacks. This innovative sack paper features a coating that replaces the plastic film, offering similar shelf-life expectancy and other performance factors to traditional alternatives. It is designed to be used in various applications, including animal feed, building materials, chemical substances, dry food, and mineral products.

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Major Key Players of the Market:

WestRock Company, Acorn Paper Products Company, Billerud AB, Canadian Kraft Paper Industries Ltd., Canfor Corporation, Delta Paper, Gascogne Group, Georgia-Pacific LLC, International Paper Company, Mondi plc, Nordic Paper AS, Oji Holdings Corporation, Segezha Group, Smurfit Kappa Group plc, Taylor Packaging, KapStone Paper and Packaging Corporation, Stora Enso Oyj, Nippon Paper Industries Co. Ltd., Daio Paper Corporation, Sappi Limited, UPM-Kymmene Oyj, Verso Corporation, Asia Pulp & Paper Co. Ltd, Nine Dragons Paper (Holdings) Limited, Lee & Man Paper Manufacturing Limited, Shandong Chenming Paper Holdings Limited, Shandong Sun Paper Industry Joint Stock Co. Ltd., Shanying International Holdings Co. Ltd., Anhui Shanying Paper Industry Co. Ltd., Holland Manufacturing Company, Anchor Paper Company, U.S. Packaging & Wrapping LLC

Poly Coated Kraft Paper Market 2024 Key Insights:

• The poly coated kraft paper market size is expected to see strong growth in the next few years. It will grow to $5.61 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.
• Eco-Friendly Packaging Propels Poly-Coated Kraft Paper Market Growth
• Product Innovation Revolutionizes Poly-Coated Kraft Paper Packaging
• Asia-Pacific was the largest region in the poly coated kraft paper market share in 2023

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