NEW YORK, July 19, 2023 /PRNewswire/ -- The global machine glazed kraft paper market size was valued at USD 8.67 billion in 2022 and is expected to surpass USD 14.62 billion by 2030, registering a CAGR of 6.75% during the forecast period (2023- 2030), as highlighted in a report published by Zion Market Research.
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Machine Glazed Kraft Paper Market: Overview
MG kraft paper refers to machine-glazed kraft paper. It has a glossy appearance and is uncoated on one side, while the other side is gritty. These papers provide a combination of exceptional shine for printability and the high tensile strength of standard kraft paper, thereby providing dual benefits. They are favored for a variety of applications in the packaging industry because they are considered secure for food packaging. Consequently, the use of MG kraft paper in the manufacturing industry for securing dried food products such as cereals, sugar, and flour is expanding rapidly. Other advantages of machine-glazed kraft papers include increased smoothness, shine, a natural feel or appearance, and extreme environmental safety. The machine-glazed kraft paper industry, which is responsible for the production and distribution of MG kraft paper, is expanding at a consistent rate.
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Key Industry Insights & Findings of the Machine Glazed Kraft Paper Market Reports:
- As per the analysis, the Machine Glazed Kraft Paper market share is likely to grow above a CAGR of around 6.75% between 2023 and 2030.
- The Machine Glazed Kraft Paper market size was worth around USD 8.67 billion in 2022 and is estimated to hit approximately USD 14.62 billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The machine glazed kraft paper market is projected to grow at a significant rate due to the growing applications in the textile industry as shopping bags
- Based on application segmentation, bags & pouches were predicted to show maximum market share in the year 2022
- Based on end-user segmentation, food & beverage was the leading user in 2022
- On the basis of region, Asia-Pacific was the leading revenue generator in 2022
Zion Market Research published the latest report titled "Machine Glazed Kraft Paper Market By Application (Wraps, Bags & Pouches, Envelopes, Labels & Release Liners, Sacks, And Others), By Weight (Above 30 GSM And 18 To 30 GSM), By End-User (Electrical & Electronics, Food & Beverage, Automotive, Healthcare, Building & Construction, Textile, Personal Care & Cosmetics, And Household), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 - 2030" into their research database.
Machine Glazed Kraft Paper Market: Growth Drivers
- Increasing applications of textiles as purchasing bags will drive market expansion.
The global market for machine-glazed kraft paper is anticipated to expand due to its increasing use in the textile industry as purchasing bags. Before a few years, many companies in the retail and clothing distribution industries utilised plastic packaging. However, because plastic is extremely detrimental to the environment, regional governments have implemented numerous programmes and initiatives to encourage retailers to invest in sustainable and eco-friendly packaging alternatives.
MG kraft paper is ideally suited for use in the textile industry due to its multiple advantageous characteristics, such as greater strength to withstand heavy weight without separating, a visually appealing glossy texture, and enhanced printability for branding or marketing purposes. This trend is especially advantageous for the fast-fashion industry, as clothing retailers such as Zara, H&M, and Mango are experiencing exceptional revenue growth.
Machine Glazed Kraft Paper Market: Restraints
- Limited strength and barrier resistance will restrain market growth.
Despite having a greater tensile strength than ordinary paper, machine-glazed kraft paper has limited strength. Unlike several forms of plastic, it cannot support exceptionally large loads. In addition, MG variants are not resistant to moisture and tend to disintegrate when exposed to water, which raises concerns about the product's functionality beyond basic applications such as carrying light clothing or groceries. Other factors, such as the use of a resource-intensive manufacturing process to produce MG kraft, may also contribute to the machine glazed kraft paper market's extant growth restraints, as these processes tend to release harmful chemicals and glasses into the environment.
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Global Machine Glazed Kraft Paper Market: Segmentation
The global machine glazed kraft paper market is segmented based on application, weight, grade, and region.
Based on application, the global market segments are wraps, bags & pouches, envelopes, labels & release liners, sacks, and others. The highest growth was observed in the bags & pouches segment in 2022 driven by extensive product application across textile and personal care sectors.
Based on weight, the machine glazed kraft paper industry is segmented into above 30 GSM and 18 to 30 GSM. The market growth was led by the 30 grams per square meter (GSM) segment due to the product's higher durability offered by greater strength.
Based on end-user, the global market segments are electrical & electronics, food & beverage, automotive, healthcare, building & construction, textile, personal care & cosmetics, and household. The industry was dominated by the food & beverages segment in 2022 which is projected to grow at a CAGR of 5.65% during the forecast period.
Recent Developments:
- H&M has decided to begin using paper-based packaging containers for online sales in the Netherlands beginning in August 2021. Between 2018 and 2025, the corporation has pledged to reduce its packaging by 25%.
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Competitive Players
The report contains qualitative and quantitative research on the global Machine Glazed Kraft Paper Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness.
Some of the main players in the global Machine Glazed Kraft Paper market include;
- BillerudKorsnäs
- Mondi Group
- WestRock Company
- Smurfit Kappa Group
- Verso Corporation
- Stora Enso
- SCG Packaging Public Company Limited
- Sappi Limited
- Thai Containers Group Co. Ltd.
- DS Smith Plc
- KAPSTONE Paper and Packaging Corporation
- Nippon Paper Industries Co. Ltd.
- Klabin S.A.
- Oji Holdings Corporation
- Nine Dragons Paper Holdings Limited
- International Paper Company
Key questions answered in this report:
- What is the growth rate forecast and market size for Machine Glazed Kraft Paper Market?
- What are the key driving factors propelling the Machine Glazed Kraft Paper Market forward?
- What are the most important companies in the Machine Glazed Kraft Paper Market Industry?
- What segments does the Machine Glazed Kraft Paper Market cover?
- How can I receive a free copy of the Machine Glazed Kraft Paper Market sample report and company profiles?
Report Scope:
Report Attribute | Report Details |
Market Size in 2022 | USD 8.67 Billion
|
Market Forecast in 2030 | USD 14.62 Billion
|
Growth Rate | CAGR of 6.75% |
Base Year | 2022 |
Forecast Years | 2023- 2030 |
Key Companies Covered
| BillerudKorsnäs, Mondi Group, WestRock Company, Smurfit Kappa Group, Verso Corporation, Stora Enso, SCG Packaging Public Company Limited, Sappi Limited, Thai Containers Group Co. Ltd., DS Smith Plc, KAPSTONE Paper and Packaging Corporation, Nippon Paper Industries Co. Ltd., Klabin S.A., Oji Holdings Corporation, Nine Dragons Paper Holdings Limited, International Paper Company, Rengo Co. Ltd., Metsä Board Corporation, UPM-Kymmene Corporation, Holmen AB, Ilim Group, Segezha Group, Emami Paper Mills Ltd., Heinzel Group, and Glatfelter Corporation.
|
Segments Covered | By Application, By Weight, By End-User, and By Region
|
Regions Covered
| North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
|
Customization Scope | Avail customized purchase options to meet your exact research needs.
|
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Regional Analysis:
Due to China's paper industry growth, Asia-Pacific is predicted to lead the global machine glazed kraft paper market during the forecast period. The paper-making business has grown rapidly and is predicted to dominate 43.15% of the regional market by 2030. China's growth may be supported by a strong e-commerce sector, an excellent manufacturing line, and rising packaging sector usage of machine glazed kraft paper. The food and beverage business may boost performance in India, South Korea, and Japan.
The US accounts for 80.1% of North America's revenue. Strategic alliances like BillerudKorsnas' December 2021 acquisition of Verso may help the area market. Companies are investing in eco-friendly packaging like machine glazed kraft paper because US and Canadian environmental rules discourage single-use packaging.
Global Machine Glazed Kraft Paper Market is segmented as follows:
Machine Glazed Kraft Paper Market: By Application Outlook (2023-2030)
- Wraps
- Bags & Pouches
- Envelopes
- Labels & Release Liners
- Sacks
- Others
Machine Glazed Kraft Paper Market: By Weight Outlook (2023-2030)
- Above 30 GSM
- 18 to 30 GSM
Machine Glazed Kraft Paper Market: By End-User Outlook (2023-2030)
- Electrical & Electronics
- Food & Beverage
- Automotive
- Healthcare
- Building & Construction
- Textile
- Personal Care & Cosmetics
- Household
Machine Glazed Kraft Paper Market: By Region Outlook (2023-2030)
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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