June 16, 2022 07:52 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, June 16, 2022 (GLOBE NEWSWIRE) -- The global pulp and paper market is projected to grow during the forecast period due to the increasing demand for eco-friendly packaging materials. Fortune Business Insights™ publishes this information in a report titled, "Pulp and Paper Market, 2021-2028". As per the report, the pulp and paper market size was $349.18 billion in 2020. The Pulp and Paper Market is projected to grow from $351.51 billion in 2021 to $370.12 billion by 2028 at a CAGR of 0.74% during the 2021-2028 period.
List of Key Players Profiled in the Pulp and Paper Market Includes:
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Rising Demand for Tissue Paper Amid Pandemic To Propel Growth
The COVID-19 outbreak affected various industries due to the strict restrictions imposed by the government. However, during the pandemic, demand for tissue paper and wipes increased from hygiene and personal care products. Furthermore, the leading companies focused on enhancing their production rate to meet global demand from healthcare facilities and hospitals. These factors have ensured the pulp and paper market growth during the forecast period.
Wrapping & Packaging Segment to Lead Pulp and Paper Market Due to Growing Retail & E-commerce Sector
Based on category, the Pulp and Paper Market Size is categorized into wrapping & packaging, printing & writing, sanitary, newsprint, and others. The wrapping and packaging segment is expected to lead the global market due to the rapidly emerging e-commerce and retail sector.
Geographically, the Pulp and Paper Market share is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The report focuses on factual data regarding the recent developments and trends in the industry. The drivers and restraints affecting the market growth during the forecast period are discussed further in this report. Also, the impact of COVID-19 pandemic on the market expansion and development is mentioned further in this report. Furthermore, regional insights on segmented market areas are given along with a list of key market players. Key industry developments are highlighted further in this report.
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Rising Demand For Eco-Friendly Packaging To Augment Growth
The global Pulp and Paper Market growth is attributed to the increasing demand for wrapping and packaging material in logistics. The rapidly expanding e-commerce and retail industry is anticipated to drive market growth in the coming years. Furthermore, increasing demand for eco-friendly packaging is expected to fuel market growth in the coming years.
However, raw material and resource management may hamper the market growth during the forecast period.
Asia Pacific Dominates Global Market Due to Rapid Economic Growth
Asia Pacific- holds the highest global pulp and paper market share due to the highest producer and consumer ratio. Also, rapid economic growth in developing countries like Japan, China and India is expected to fuel regional market growth. The regional market stood at USD 173.26 billion in 2020.
North America stands at the second-highest global market position due to the rising demand for paper from various end-use industries. Furthermore, the presence of leading market players is anticipated to drive the market.
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Strategic Investments by Companies To Gain Competitive Advantage in The Market
The leading pulp and paper manufacturers focus on balancing their supply-demand process by adopting sustainable solutions and increasing their production rate. Also, the companies focus on forming strategic alliances, partnerships, collaborations, and mergers with supporting organizations to improve their business performance.
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