Household Paper Products Market the Most In-Demand Products Across the World and Global Forecast till 2027
The global Household Paper Products market is forecasted to reach USD 281.75 Billion by 2027, according to a new report by Reports and Data. The market is witnessing a surge in demand owing to the increasing demand for packaging paper from large organizations in the hospitality, pharmaceutical, retail, and FMCG industries. Advancements in technological developments have led to the manufacturing of packaging paper having high durability and strength. However, the environmental challenges due to deforestation and the high cost of raw materials are hampering the market demand.
Due to the growing awareness about the ill-effects of
plastic packaging products like non-biodegradability, health problems, and
global warming, consumers and organizations are now shifting towards
sustainable packaging products, such as paper, thus driving the demand for the Household
Paper Products market. A new emerging trend is the use of recycled paper, which
is now being seen as a substitute for plastic waste, which is also leading to a
surge in the demand of Household Paper Products.
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Many countries in the world like China, Bangladesh,
Italy, South Africa, and Kenya have banned the use of plastic bags. This has
led to a search for alternate materials that can be used for packaging, thus
increasing the demand for the Household Paper Products Market. An increase in
the demand for takeaways and delivery of food products is also leading to a
rise in the demand of the market from the Quick Service Restaurants (QSR), as
they are one of the significant consumers of Household Paper Products.
Competitive Outlook:
This section of
the report performs a thorough investigation into the intensely competitive landscape
of the global Household Paper Products Market, highlighting the leading
manufacturers, strategic initiatives adopted by them, the existing growth
prospects, market positions, and market shares held by each participant. The report further emphasizes the developmental
strategies undertaken by these companies, including product innovation, new
product launches, and technological upgradation. Moreover, the report studies
the notable business events observed in this industry, such as mergers &
acquisitions, joint ventures, partnerships, corporate deals, and brand
promotions.
Key
companies operating in the market and profiled in the report include:
· ST
Paper LLC
· First
Quality Enterprises, Inc
· Clearwater
Paper Corporation
· Irving
Consumer Products Ltd
· Cascades
Inc
· Essity
Aktiebolag
· KP
Tissue, Inc
· Georgia
Pacific
· Procter
& Gamble
· Kimberly-Clark
Corporation
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Further key findings from the report
suggest
- Packaging
paper occupied the largest market share in 2019, and it is forecasted to
grow at a CAGR of 0.3% in the forecast period. This is major because of
the benefits that paper packaging provides, like recyclability and
biodegradability.
- By
raw materials, Recycled and Wastepaper occupied around 33.0% of the market
share in 2019, and it is forecasted to grow at a CAGR of 0.8% in the
forecast period. This growth rate is higher due to the increasing
awareness among customers regarding the benefits that recycled paper
provides to the environment.
- In
terms of application, industrial packaging occupied the largest market
share in 2019 and is forecasted to grow at a CAGR of 0.3% during the
forecast period. This is due to the benefits that paperboard packaging
provides, such as recyclability, eco-friendly, and low handling costs.
- The
Asia Pacific region is forecasted to grow at the fastest CAGR of 1.9% in
the forecast period. This is primarily because of the growing
industrialization in the region and the increasing awareness about the
harmful effects of plastics. Also, the disposable income is growing in
this area, especially in India and China, leading to higher demand.
- In
May 2020, India developed a new paper-based strip for testing of COVID-19
patients in a large number. Since this was designed for mass testing, it
will certainly raise the demand for the period.
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Segments Covered in the report:
Product Outlook (Volume, Kilo Tons;
2017-2027, Revenue, USD Billion; 2017-2027)
- Writing
and Printing Paper
- Magazine
Paper
- Packaging
Paper
- Sanitary
Paper
- Others
Application Outlook (Volume, Kilo Tons;
2017-2027, Revenue, USD Billion; 2017-2027)
- Sanitary
Maintenance
- Industrial
Packaging
- Food
Service Disposables
- Others
Raw Material Outlook (Volume, Kilo Tons;
2017-2027, Revenue, USD Billion; 2017-2027)
- Recycled
and Waste Paper
- Wood
and Agro Residue
Regional Outlook (Volume, Kilo Tons;
2017-2027, Revenue, USD Billion; 2017-2027)
- North
America
- Europe
- Asia
Pacific
- MEA
- Latin
America
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