The global specialty paper market is estimated to garner a sizeable revenue by growing at a CAGR of ~8% over the forecast period, i.e., 2022–2030. The growth of the market can be attributed to the growing applications of specialty paper in the packaging industry, construction, printing, and others. Moreover, the growing food & beverages packaging industry which valued over USD 300 billion in 2019, and is anticipated to further grow, backed by raised disposable income and increasing trend for packaged food. This is anticipated to boost the market growth. In addition to this, the increase in the urban population and life style of people are major factors driving the global specialty paper market.
The global specialty paper market is segmented by material into binders, pulp, fillers, additives, chemicals, and others, out of which, the pulp segment is anticipated to hold the largest share in the market in terms of revenue share during the forecast period as pulp is the major content for making the paper. On the basis of product, the market is segmented into labels, leaflet papers, decor papers, flexible packaging papers and others, out of which, the flexible packaging papers segment is estimated to garner a major share in the market over the forecast period, owing to the increasing use of specialty paper in packaging various products backed by its strength and firmness.
Regionally, the global specialty paper market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific is estimated to witness highest CAGR over the forecast period on the back of increasing demand for packaging material in the region. Growing fast food industry in the region, backed by changing lifestyle, has increased the demand for safe packaging options, such as, food contact paper, which, in turn, is estimated to boost the regional market growth.
The market in the North America region is anticipated to garner a major share over the forecast period, owing to the growing ready-to-cook food industry, which requires specialty paper for packaging the food products. Moreover, raised awareness for the use of paper, instead of plastic for packaging, is also estimated to boost the market growth. As per the data by the U.S. Environment Protection Agency, in 2018, paper containers and packaging amounted to 41.9 million tons of Municipal Solis Waste, out of which, 80.9% waste was recycled. Moreover, increasing use of specialty paper for printing is also expected to boost the market growth.
The global specialty paper market is further classified on the basis of region as follows:
Our in-depth analysis of the global specialty paper market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Rising demand for safe food packaging solutions is the major factor driving the market growth.
The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2022-2030.
High costs of raw materials is one of the factors estimated to hamper the market growth.
The market in Asia Pacific is estimated to garner the largest market share owing to the growing food & beverages packaging sector in the region.
The major players in the market are Mondi plc, Asia Pulp & Paper Group (APP), Seaman Paper Co., SCG Packaging Public Company Limited, Pudumjee Paper Products Limited, BPM Inc., KRPA Holding, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by material, weight, product, end-user, and by region.
The pulp segment is anticipated to hold largest market over the forecast period as this is the major component in making specialty paper.
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