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Paper Products Market Research 2020-2025 Report by Global Size, Key Companies, Trends, Growth and Regional Forecasts

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Rahul Sharma
Paper Products Market Research 2020-2025 Report by Global Size, Key Companies, Trends, Growth and Regional Forecasts

Paper Products Market was sized USD 268.8 billion in 2018. The market is anticipated to witness a CAGR of 0.3% during the forecasted years. The increase in the demand for paper across all industries such as hospitality services, pharmaceuticals, FMCG and retail is expected to drive the market growth in the upcoming years. The rising demand for such products owing to the declining usage of plastics for packaging has paved the way for paper manufacturing which has higher durability and strength.

 

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The key driving factors responsible for the growth of Paper Products market :

 

The industry of Quick Service Restaurant (QSR) is also the largest consumer for packaging purposes. This growth can be attributed to the increase in the consumption of packed or ready-to-cook foods due to the busy work schedule among the working population. Also, the availability of fresh food at food trucks and other food franchises has boosted the demand for paper as a packaging material. For example, the chain of McDonald's’ or Domino’s offers delivery of food items with paper packaging thereby increasing the consumption of paper.

 

The method of recycling the paper for reusing it is also becoming popular among the paper manufacturers. Various types of papers, cardboards, and other paper materials can get recycled and then used for applications such as shipment and packaging. The majority of the leading companies have undertaken initiatives to use paper products for packaging. For example, Pepsico Inc. has committed its customers to use 100% recyclable paper packaging material for its products by 2025.

 

Application Insights

The application segment of paper packaging held the largest share during the year 2018 and is anticipated to register a CAGR of 0.6% during the forecasted years, 2019 to 2025. This growth can be attributed to the number of product features such as recyclability and biodegradability. The shifting trends in the packaging industry from the usage of plastics to usage of paper which are durable, and reusable is anticipated to boost the market growth in the upcoming years.

 

Many manufacturers also offer customized paper packaging for their products as per the demand of the consumers. The major customized paper bag suppliers include Barry Packaging, Etsy Inc., and PAPER MART.

 

The application segment of printing and writing held the second-largest share during the year 2018. The need for laser images and offset printing has resulted in the growth of this segment.

 

Regional Insights

In 2018, the region of Asia Pacific dominated the global paper products market with a share of 36.65%. The factors contributing to this growth are rising population and rapid industrialization across this region. The demand for news printing paper is facing a decline across this region due to the shifting trend towards digital platforms among the consumers. This region is expected to grow at the fastest CAGR of 2.3% during the forecasted period, 2019 to 2025.

 

View Full Table of Contents of This Report @ https://www.millioninsights.com/industry-reports/global-paper-products-market

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