Pulp and Paper Market 2021 Global Industry Share, Global Research, Top Leading Players, Emerging Trends, Region by Forecast to 2028
The global pulp & paper market is expected to gain impetus from the increasing usage of e-commerce platforms by youngsters to purchase cosmetics, groceries, and food items. It is mainly occurring because of the increasing usage of smartphones and internet worldwide. This information is published by Fortune Business Insights™ in a new report, the report further mentions that the pulp & 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.
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Drivers & Restraints-
Rising Shift of Companies towards Environmentally-friendly Solutions will Spur Growth
Pulp & paper are considered to be the most recyclable and sustainable materials used in packaging across the globe. Nowadays, the environmental concerns are surging and this is further compelling the manufacturers to shift towards eco-friendlier paper packaging solutions. Thus, the prominent FMCG, cosmetics, and food companies are joining hands with pulp & paper manufacturers to develop novel paper packaging solutions.
Apart from that, the emergence of the COVID-19 pandemic has raised the demand for tissue papers, especially from hospitals. These factors would contribute to the pulp & paper market growth in the near future. However, as paper industries require huge amounts of wood, the rate of water crisis & deforestation is increasing day by day. It may hinder the growth of the market for pulp & paper.
Segment-
Wrapping & Packaging Segment to Lead Owing to Usage of Paper Based Packaging Products
Based on category, the market is fragmented into newsprint, sanitary, printing & writing, wrapping & packaging, and others. Out of these, the wrapping & packaging segment generated 52.9% pulp & paper market share in 2019 and is likely to dominate in the coming years. This growth is attributable to the rising usage of paper based packaging products. Additionally, the increasing penetration of the retail sector & e-commerce have surged the demand for wrapping & packaging paper.
Browse Summary of This Research:
https://www.fortunebusinessinsights.com/pulp-and-paper-market-103447
