Market Overview:
Seal paper is a specialty paper used to seal packages securely and provide tamper evidence. It is made from thermally responsive materials that allow them to bond or adhere quickly when applied with heat. Seal paper has advantages such as being lightweight, strong, easy to customize, and provides high sealing strength. It is widely used in pharmaceuticals, food and beverages, and e-commerce industries to securely seal packages of drugs, boxes, bags, parcels and so on. The growing demand from these end use industries is expected to propel the seal paper market growth over the forecast period.
Market key trends:
The seal paper market is witnessing few notable trends such as growing demand for tamper evident seals and custom designs. E-commerce companies are extensively using seal papers with customized security features and designs to provide tamper evidence and branding for parcels and packages. Pharmaceutical companies are also focusing on incorporating tamper evident features in medicine packages to curb counterfeiting. In addition, manufacturers are developing seal papers made from sustainable materials like paper and bioplastics to cater to environmentally conscious customers. Emerging economies with rapidly growing e-commerce and pharmaceutical sectors are expected to present lucrative growth opportunities for seal paper market in the coming years.
The Global Seal Paper Market Demand is estimated to be valued at US$ 15.84 Bn in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Porter’s Analysis
Threat of new entrants: The barrier for entry is moderately high as it requires large capital investment to establish manufacturing facilities.
Bargaining power of buyers: The buyers have moderate bargaining power as seal paper has applications in various end-use industries thereby providing alternatives to buyers.
Bargaining power of suppliers: The suppliers have low to moderate bargaining power as raw materials required for seal paper production are commoditized and available from numerous suppliers.
Threat of new substitutes: The threat of substitutes is low to medium as seal paper has strong product features that are not easily substitutable by alternatives.
Competitive rivalry: The market is highly competitive due to presence of numerous global and regional players.
Key Takeaways
The global seal paper market size is expected to reach US$ 15.84 Bn in 2023 and is expected to witness high growth, exhibiting a CAGR of 7.0% over the forecast period due to increasing demand from food and beverage packaging industry.
Regional analysis: North America holds the largest share in the global seal paper market, owing to the presence of key players and large demand for packaged and processed food in the region. Asia Pacific exhibits the fastest growth in consumption of seal paper driven by growing e-commerce industry and expanding middle-class population in China and India which is increasing demand for packaged goods.
Key players operating in the seal paper market are Avery Dennison, 3M, Henkel, UPM Raflatac, CCL Industries, WS Packaging Group, Constantia Flexibles, R.R. Donnelley & Sons, Mondi, Amcor, Seiko Holdings, Reflex Labels, Coveris Holdings, Lintec Corporation, Stickythings, Torraspapel Adestor, Polylabel, Multi-Color Corporation, Secura Labels, Etisoftware. Key players focus on new product development and capacity expansion strategies to strengthen their market share.
For more insights, read-
https://www.insightprobing.com/seal-paper-market-demand-share-analysis/
