FEB 11, 2020: The global Paper Products market size is expected to reach USD 275.1 billion by 2025 with a CAGR of 0.3%, according to a new report by Grand View Research, Inc. Major factor driving the market includes rising demand for paper packaging in the FMCG, pharmaceutical, and hospitality industries.
The packaging paper application segment accounted for 51.58% of the global market in 2018 and is also expected to witness the fastest CAGR from 2019 to 2025.
Moreover, increasing number of installations of new equipment by key manufacturers will support market growth.
Key manufacturers focus on expanding their product portfolio to capture larger market share and ensure sustainability within the U.S. market.
For instance, in March 2018, SOFIDEL, an Italian manufacturer of tissue papers, announced that it would initiate the construction of its second tissue mill at Inola/Oklahoma in U.S.
Some of the major companies in this market are Kimberly-Clark Corporation; Procter & Gamble; Georgia-Pacific; KP Tissue, Inc.; Essity Aktiebolag (publ); Cascades, Inc.; Irving Consumer Products Limited; Clearwater Paper Corporation; and First Quality Enterprises, Inc.Further key findings from the study suggest:In terms of revenue, packaging paper application is projected to ascend at the highest CAGR of 0.6% from 2019 to 2025Asia-Pacific led the global paper products market in 2018 in terms of revenue and accounted for 36.65% of the overall market shareWith increasing disposable income levels in emerging countries like India and South Korea, the APAC regional market is anticipated to witness the highest CAGR from 2019 to 2025The industry is highly competitive with the presence of many local and international companies.