The global kraft paper market is expected to grow at a CAGR of 3.76% over the period to reach a market size of US$2.539 billion by 2024 from US$2.034 billion in 2018. Kraft paper is a cardboard or paper produced from the pulp. Kraft paper is suitable for packaging of products which demand strength and durability. Kraft paper is highly elastic and tear resistant. The growing environmental concerns coupled with increasing preference for biodegradable packaging is expected to drive the market for Kraft paper. Kraft papers are recyclable and can be used again which is further expected to provide growth opportunities in the market. Furthermore, Kraft paper used in the production of corrugated and cardboard boxes which are used in the packaging industry, this is further anticipated to boost the Kraft paper market during the forecast period.
Growing preference for eco-friendly packaging.
Rising demand for cardboard and corrugated boxes.
Government rules and regulations regarding deforestation.
In November 2018, WestRock Company a leading provider of differentiated paper and packaging solutions acquired KapStone Paper and Packaging Corporation with an aim to broaden their portfolio of paper and packaging solutions.
The major players profiled in the Kraft paper market include WestRock Company, Paswara Group, Mondi Group, Natron-Hayat d.o.o., Canfor Corporation, BillerudKorsnas, Smurfit Kappa Group, Gascogne Papier (a division of Gascogne group), Georgia Pacific LLC, Nordic Paper, Segezha Group, R.A.Kraft paper Pvt.Ltd.
The kraft paper market has been analyzed through the following segments:
Natural Kraft Paper
Bleached Kraft Paper
Printed Kraft Paper
Recycled Kraft Paper
Food & Beverage
Middle East and Africa