Pulp and paper market size expected to reach USD 368.10 Billion by 2027, according to Fortune Business Insights
According to market research report by Fortune Business Insights, pulp and paper market size was USD 348.83 billion in 2019 and is projected to reach USD 368.10 billion by 2027, exhibiting a CAGR of 0.8% during the forecast period. Many global brands are shifting towards eco-friendly solutions due to rising awareness around plastic pollution further spurring growth of pulp and paper market size.
Pulp and paper are considered to be the most recyclable and sustainable materials used in packaging across the globe. Presently, the environmental concerns are surging and this is further compelling the manufacturers to shift towards eco-friendlier paper packaging solutions. As a result, the prominent FMCG, cosmetics, and food companies are joining hands with paper and pulp manufacturers to develop novel paper packaging solutions.
In addition, the emergence of the COVID-19 pandemic has raised the demand for tissue papers, especially from hospitals. These factors would contribute to the pulp and paper market growth in the coming times.