Paper Wrap Market Forecast and CAGR
According to the latest report, the paper wrap market saw soaring growth in 2021 with worldwide revenues up by lucrative growth year over year. A new forecast estimates that paper wrap market revenues will nearly double between 2021 and 2031.
Going Green Trend Pushing Paper Wrap Packaging Demand
Over a years, the packaging industry creating solid waste across the world. According to the US Environmental Protection Agency, more than 37 million tons of solid waste were created from the packaging industry excluding re-cycled and re-used solid waste.
Increasing solid waste becoming a reason for environmental pollution and carbon footprint. Rising consumer concern to reduce solid waste influencing drastic change in the packaging industry.
Additionally, rules and regulations imposed by the government to keep the environment clean impacting grate shift towards reusable, recyclable, and environment-friendly packaging.
Paper wrap is significantly used in the packaging industry for several applications such as metal wrapping, fruits packaging, and many others. Paper wrap is the new technology in the packaging industry that helps to reduce metal rusting, protecting food products, and it is environmentally degradable. Therefore paper wrap is becoming popular in the packaging industry.
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Durability and Cost-effectiveness Influence Paper Wrap Market Demand
Flexibility, durability, and cost-effectiveness are influencing factors in the packaging industry. Paper wrap is easily used and flexible in packaging products, and it reduces the packaging cost.
Moreover, it aids to keep products safe and fresh, especially in food packaging. Because of convenience, durability, economic benefits, consumers utilize paper wrap as packaging solutions.
Additionally, Transparency and clean label trend are also impacting the packaging industry. The term "transparency" refers to producers being entirely transparent and honest about the contents of their products. “Clean” signifies that the product is safe and does not include any toxic chemicals.
When a manufacturer packages their goods in such a way that the content information is clear, succinct, and open, it builds trust in the company's brand name.
Therefore, manufacturers particularly from the food & beverage sector and cosmetic sector are preferring the safe packaging mode. This paper wrap is produced from woods and it is safe for human health.
To improve their brand image, manufacturers prefer paper wrap packaging. This factor enhancing the demand for a paper wrap in the global market across the forecast period.
US and Canada Paper Wrap Market
The US is one of the prime markets for the North American paper wrap market. Increasing demand for environmentally friendly packaging options from US and Canada markets triggered the paper wrap market and acceptance of paper wrap packaging in diversified end-use industries elevate demand over the forecast period. Growing demand for a paper wrap in North America drives the global market with a healthy growth rate.
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Europe Demand Outlook for Paper Wrap Market
Paper wraps are widely sold in European countries, with the United Kingdom, Italy, Germany, Russia, and France having the dominant market share. Rising concerns regarding environmental sustainability and reduce carbon wastage along with technological enhancement in the packaging industry allow an opportunity for the paper wrap market in the European packaging industry. With a steady growth rate, Europe contributes a significant share to the global paper wrap market.
Paper Wrap Market: key players
Some key manufacturers functioning the business in the paper wrap market are,
- Armor Protective Packaging
- Central Mailing Services
- Sullivan Paper Co. Inc.
- INDEVCO Group
- Ribeiro Soares GmbH
- BPM Inc
- Inma Group of Companies
- SA Intrenational
- Ambey Paper LLP
many other are some prominent brands operating in paper wrap market.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
An Adaptive Approach to Modern-day Research Needs
Paper Wrap Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Paper Wrap: Market Segmentation
Based on grade, the global paper wrap can be segmented as:
- Food Grade
- Industrial Grade
Based on material type, the global paper wrap can be segmented as:
- Bleached paper wrap
- Unbleached paper wrap
- Recycled paper wrap
Based on packaging type, the global paper wrap can be segmented as:
- Primary packaging
- Secondary packaging
- Tertiary packaging
Based on the Region, the global paper wrap can be segmented as:
- North America
- U.S. and Canada
- Latin America
- Mexico, Brazil, Peru, Chile, and others
- Western Europe
- Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg
- Eastern Europe
- Poland and Russia
- Asia Pacific
- China, India, Japan, ASEAN, Australia, and New Zealand
- The Middle East and Africa
- GCC, Southern Africa, and North Africa
- North America
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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