The global kraft paper market is expected to be valued at USD 22.38 Billion by 2028 from USD 17 Billion in 2020, and register a CAGR of 3.5% over the forecast period. Growth of the market is majorly attributable to rising demand for sustainable and recyclable materials for packaging from various end-use industries. Kraft paper is manufactured from wood pulp through pulverizing process and blending with strong wood filament. However, high cost of kraft paper coupled with rising awareness regarding deforestation and resulting environmental impact of paper manufacturing are some key factors restraining growth of the market to some extent currently.
Increasing demand for recycled paper bags and kraft paper over polyethylene for carrying and packaging products at supermarkets and malls such as food products is expected to open up a range of lucrative opportunities for growth of companies operating in the market. In addition, rising preference for materials that are compliant with green regulations suggested by FDA is boosting demand for kraft paper and the trend is expected to continue over the forecast period.
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Rapidly rising demand for sustainable and efficient packaging from end-use industries is driving growth of the market
Kraft paper has robust applications across the food & beverage industry for packaging of food and groceries. The production of carryout bags, shopping bags, butcher bags, gift wraps, and other shipping sacks has increased substantially owing to rising awareness among consumers about benefits of eco-friendly materials and easy availability of these bags.
Some Key Findings in the Report
- Among the application segments, the building & construction segment is projected to account for largest revenue share in the global kraft paper market and maintain its dominance over the forecast period. Growth of this segment can be attributed to kraft paper finding a range of applications in the construction industry and for material application and product packaging owing to good resistance to temperature and water.
- Among the grade segments, the bleached paper segment is expected to account for dominant revenue share in the kraft paper market, with the trend continuing over the forecast period. This growth can be attributed to growing acceptance of bleached paper owing to superior properties over regular kraft paper such as higher strength.
- Among the packaging form segments, the corrugated segment is expected to account for leading revenue share in the global market and maintain its dominance over the forecast period. This growth is attributable to increasing demand for improved protection for goods during transportation. The recyclable and reusable nature of corrugated material is leading to increasing end-use and consumer inclination toward this type of packaging material.
- North America is expected to lead in terms of market revenue share over the forecast period, driven by significant revenue contribution from the US and Canada.
- Europe is expected to account for second-largest revenue share in the global kraft paper market and maintain its position over the forecast period. This growth is attributable to increasing rate of paper recycling coupled with rising awareness about the environment.
- Revenue from the market in Asia Pacific is projected to expand at a fastest CAGR during the forecast period owing to increase in demand for kraft paper for packaging of goods in countries in the region.
- Major players in the global kraft paper market include Mondi, Segezha Group, Klabin, Billerudkorsnas, Stora Enso, Daio Paper Construction, Nordic Paper, Glatfelter, and Gascogne Papier.
For the purpose of this report, Reports and Data has segmented the global kraft paper market on the basis of grade, packaging form, application, and region:
By Grade Outlook (Revenue, USD Billion; 2018-2028)
- Unbleached
- Bleached
- Wrapping & Packaging
- Sack Kraft Paper
- Others (Vegetable Parchment, Greaseproof, and Glassine)
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By Packaging form Outlook (Revenue, USD Billion; 2018-2028)
- Corrugated Boxes
- Grocery Bags
- Industrial Bags
- Wraps
- Pouches
- Envelopes
By Application Outlook (Revenue, USD Billion; 2018-2028)
- Foods & Beverage
- Pharmaceuticals
- Building and Construction
- Cosmetics & Personal Care
- Others
By Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
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The Spirulina Market is expected to grow at a CAGR of 10.3% from 2020-2030, according to a new research report by Next Move Strategy ConsultingSpirulina is a blue green algae with high nutrient content, usually consumed by human & animals.
It is also used as a complementary diet ingredient in aquaculture & poultry feeds owing to the presence of high protein & vitamin content.According to the report, growth in health consciousness among people and the rising demand for dietary supplements are major factors driving the spirulina market growth.
Additionally, high penetration of spirulina in industries such as cosmetics and pharmaceutical owing to the advantageous properties such as anti-aging, anti-wrinkles and othersare bringing changes in market tends.However, low stability & poor sustainability of spirulina derived colours is expected to restrict the market growth.Moreover, growth in research & development activities followed by untapped market opportunities in developing economies are anticipated to provide numerous opportunities to the market players in the coming few years.On the basis of type, spirulina market share is segmented into Arthrospira Platensis and Arthrospira Maxima.
Arthrospira Maxima dominates the global Spirulina market and will be the dominant throughout the forecasted period.On the basis of application, the Spirulina market is categorised into Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others.Food & Beverages segment is likely to develop significantly over the period of time owing to fast growing food & beverage industry.On the basis of drug formulation, the spirulina market is bifurcated into Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent.
Powder segment is expected to account for the major market share & dominate the market growth over the forecast period.North America dominates the spirulina market in terms of market size over the forecast period, owing to rising health consciousness among people.
Hansen Holding A/S, Algenol Biofuels Inc., Dongtai City Spirulina Bio-engineering Co., Ltd., Prolgae, Parry Neutraceuticals, Sensient Technologies Corporation, DDW Inc., Algatec and Naturex S.A.Browse key industry insights from the report, “Spirulina Market Size By Type (ArthrospiraPlatensis and Arthrospira Maxima) By Application (Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others), By Drug Formulation (Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent)Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020–2030” in detail along with the table of contents:Key Insights from the Spirulina Market Report:Asia Pacific is the fastest growing region in Spirulina market owing to the rising demand of spirulina from various industries such as cosmetics, food , healthcare and others and government initiatives to promote local spirulina production.The Food & Beverages segment dominates the market in terms of application and is expected to grow at a significant CAGR to maintain the lead till 2030.Some of the major players in the market are DIC Corporation, Cyanotech Corporation, Chr.
