Global Kraft paper market will reach USD18.10 billion by 2026 – Market Report
According to the market research report, the global Kraft Paper Market was estimated at USD 15.5 billion in 2019 and is predicted to reach USD 18.10 billion by 2026 growing at a CAGR of 3.5% from 2020 to 2027.
Kraft paper is predominately used to make sustainable packaging. There are various factors driving growth of the market globally. The growth of the population is demanding additional food which is predicted to push the market growth of the food and beverage market. The growth of the food and beverage sector likely to propel Kraft paper market growth.
Kraft paper is obtained from the chemical pulp. It is darker than wood pulp; however, it can be bleached as per the consumer demand. The bleached paper is having high strength and it has a strong resistance to paleness. In common, softwood is used as a prominent raw material used for the production of Kraft paper. Furthermore, Kraft paper has a strong property to elongate.
The increasing demand for packaging solutions to keep the finished products undamaged is likely to increase the application of Kraft papers in various end-use industries such as food & beverages, cosmetics & personal care automotive, packaging and paper, and consumer durables, which, in turn, is a primary factor expected to fuel the growth of the global Kraft Paper market.