The paper wrap market valuation is expected to surpass USD 11.4 billion by 2034. The growth potential of the industry is anticipated to be balanced by the presence of established alternatives such as flexible packaging and bubble wrap. However, paper wrap’s key advantage lies in its ability to offer both widespread functionality and strong environmental credentials. In 2024, sales of paper wraps are likely to reach USD 8.4 billion. The global paper wrap market is projected to record an idle 3.1% CAGR between 2024 and 2034.
Composed of materials akin to kraft paper, paper wrap serves as a viable protective solution for manufacturers during the shipping and transit stages, particularly for delicate or breakable goods. Its inherent strength-to-weight ratio translates to a lightweight design without compromising protection, potentially leading to cost efficiencies in transportation.
The paper wraps sector is expected to increase as a result of the expanding e-commerce sector and the growing need for environmentally friendly packaging choices in a variety of industries, including food and beverage, electronics, cosmetics, personal hygiene, and home care. The growing need for paper wraps in the upcoming ten years is driving the industry’s expansion.
Get Your Sample Report – Drive Business Success! https://www.futuremarketinsights.com/reports/sample/rep-gb-13569
The paper wrap industry is expanding due to strict plastic laws, consumer demand for eco-friendly items, and increasing paper wrap usage. Emerging paper-based packaging solutions, like water-resistant and biodegradable coatings, are cutting-edge developments. The trend towards sustainable packaging, with industry players playing a critical role, is predicted to drive the market’s significant growth in the future.
“The eco-friendliness of paper wrap is the real distinction. The creative paper bubble wrap version offers a sustainable substitute for conventional plastic wrap with its carefully crafted bubble or honeycomb structure. The paper wrap market is anticipated to increase significantly as a result of customers’ and regulators’ rising preference for ecologically friendly alternatives. Although there are other well-known packaging solutions, paper wrap has a potential future in the packaging sector because of its special combination of environmental responsibility and practicality.” says an analyst of Future Market Insights.
Key Takeaways from the Paper Wrap Market Report
- The paper wrap industry demands for kraft papers with revenue share of 3% in 2024.
- In 2024, the paper wrap market is estimated to utilize by the 4% by manufacturing and warehousing.
- The paper wrap industry in the United States is anticipated to see a CAGR of 8% from 2024 to 2034.
- The paper wrap sector in China is projected to showcase a CAGR of 7% through 2034.
- The paper wrap market in India is anticipated to display a CAGR of 4% by 2034.
Request Customization of Report:
https://www.futuremarketinsights.com/customization-available/rep-gb-13569
Competitive Analysis of the Paper Wrap Sector
To increase their market share in the reconditioned paper market, leading companies in the paper wrap industry are employing a two-pronged approach. Large sums of money are being invested in state-of-the-art reconditioning facilities, which enable discarded paper wraps to be effectively refurbished and reused.
Important firms are exploring targeted acquisitions of smaller businesses and forming strategic alliances. This cooperative strategy makes it possible to penetrate the refurbished paper market more deeply and over a larger geographic area. Such initiatives show the industry’s dedication to both business expansion and environmental sustainability.
Recent Industry Developments in Paper Wrap Sector
- Cox and Co. debuted their first paper flow wrap chocolate packaging in April 2024. It included a kerbside recyclable wrapping and a minimum 12-month shelf life, which allowed the company to maintain competitive prices while cutting packaging expenses by 35%.
- Essentia Organic Mattress switched to recyclable, compostable, and biodegradable kraft paper for both the inside and exterior packaging of their roll pack process in April 2024, doing away with plastic wrap entirely.
Key Segments of Paper Wrap Industry
By Product:
In terms of product, the industry is bifurcated into kraft papers and specialty papers.
By Thickness:
In terms of thickness, the industry is segregated into up to 30 GSM, 30 to 50 GSM, and above 50 GSM.
By End-use:
End use industries such as manufacturing and warehousing, e-commerce and logistics and transportation classify the industry. The manufacturing and warehousing sector is further classified into pharmaceuticals, electronics and electrical, automotive and allied industries, food and beverages, cosmetics and personal care, and other industries.
By Region:
As per region, the industry is divided into North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa.
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
Comments
0 comment