Future Market Insights, an ESOMAR-certified market research and consulting firm, released its Machine Glazed Kraft Paper Market report, which includes global industry analysis, growth, share, size, trends and forecasts for 2020 to 2030. According to the report, the market is expected to grow by 1.6x during the forecast period, with an overall valuation projected to surpass $9.13 billion by 2021.
A rising demand from the food and beverages sector, in response to an increasing focus on sustainable packaging is a contributing growth factor. While a decline in sales is likely, following the COVID-19 outbreak, a recovery is expected from 2022 onwards. In addition, the study also forecasts that the food and beverages sector will account for over 27% of sales in the market through the forecast period.
“The ability of machine glazed kraft paper to provide exclusive mechanical strength, flexibility and printability makes it an ideal choice for [the] packaging of industrial and non-industrial goods. Shifting inclination towards strong, yet sustainable packaging solutions will create sales opportunities,” says a lead analyst.
High Preference for Environment-friendly Packaging to Bolster Market Growth
The rising preference of sustainable packaging has led to an increase in demand for packaging solutions that can also be recycled. In fact, machine glazed kraft paper manufacturers are inclined towards sustainable packaging and are promoting environment-friendly packaging.
Manufacturers are also using paper materials as sustainable packaging alternatives to the conventional plastic and metallized packaging solutions used in food, healthcare, personal care and cosmetics, building and construction and household applications.
For example, bags and pouches, coating and lamination, cups and bowls, envelopes, labels and release liners, sacks, trays, wraps and other items (like gift wrap) are produced from viable packaging materials, such as machine glazed kraft paper. They are paving the way for efficient environment-friendly packaging solutions across the world.
Initiatives by manufacturers (operating in the global machine glazed kraft paper market) will further encourage consumers to adopt sustainable packaging products. Increasing inclination for such environment-friendly machine glazed kraft paper solutions and stringent government regulations, regarding green packaging formats across various countries, are ultimately fueling the machine glazed kraft paper market growth.
According to the report, the shift in the adoption of flexible packaging rather than rigid packaging is responsible for driving the machine glazed kraft paper market’s growth. There is an increasing penetration of machine glazed kraft paper for the packaging of food and beverages, personal care and cosmetics products, textiles and other industrial products in the East Asian region.
Rising investment in research and development resulted in the advent of packaging formats that feature odor neutrality and high taint, and come with an option of wet-strength for high barrier protection against the effects of oxygen and moisture. Furthermore, machine glazed kraft papers offer a compostable and sustainable functional choice with excellent aesthetic and surface properties, which is enabling growth in the market.
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