Coherent Market Insights published innovative data entitled Sack Kraft Paper Market This report uses an exploratory technique, such as primary and secondary research, which helps to discover the desired data. It focuses on a global scenario such as Sack Kraft Paper to learn the global strategy of industries and study the various regions such as North America, Latin America, China, Japan, Asia, and India. The latest research study provides market opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support for business intelligence.
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A sack kraft paper manufactured from paper or paperboard made of wood pulp is a porous paper with strong tear resistance and high elasticity. Kraft paper is designed for packing products packaging and storing powder materials such as cement, flour, and animal feed. The increasing demand for bio-degradable packaging, owing to use of environment-friendly material with properties such as porosity, durability, extensibility, and printability is a factor expected to drive growth of the market. According to Coherent Market Insights’ study, the global biodegradable packaging market was valued at US$ 3,927.0 million in 2016 and is expected to expand at a CAGR of 20.8% in terms of revenue. However, the lack of raw material and its high cost are some of the factors hindering growth of the sack kraft paper market.
Europe is the second largest region in global sack kraft paper market, owing to increasing demand from the food industry. Governments of various countries in the region have imposed regulations to ensure hygiene and food safety of consumable products. According to European Commission, Regulation (EC) 852/2004 on hygiene foodstuff was imposed to ensure safety of food products, is one of such regulations. This has impelled manufacturers to update on materials, technology, and others required for packing of such products.
Asia Pacific accounted for a revenue share of 37.30% in 2016, in global sack kraft paper market. Increasing construction activities along with growing per capita GDP in China is expected to drive growth of global sack kraft paper market growth. According to National Bureau of Statistics of China, GDP from construction in China increased to US$ 5.617 billion during July-September in 2017 from US$ 3365.34 billion during April to June. This steady increase in GDP is expected to increase construction activities, in turn, boosting growth of the sack kraft paper market.
Major Players in the Global Sack Kraft Paper Market:
Manufacturers are focusing on various strategies such as developing innovating packaging solutions to expand their product portfolio and enhance their position in the global market. For instance, in 2016, Mondi plc manufactured iFoodbag from a paper-based composite material, which has ability to maintain the temperature of frozen goods for at least 24 hours
Some of the key players in global sack kraft paper are BillerudKorsnas AB, Segezha Group, Nordic Paper, Mondi plc, Natron-Hayat d.o.o., Gascogne Group, Tolko Industries Ltd., Canfor Corporation, KapStone Paper and Packaging Corporation, and Horizon Pulp & Paper Ltd.
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Important Information that can be extracted from the Report:
♦ Assessment of the COVID-19 impact on the growth of the Sack Kraft Paper Market
♦ Successful market entry strategies formulated by emerging market players
♦ Pricing and marketing strategies adopted by established market players
♦ Country-wise assessment of the Sack Kraft Paper Market in key regions
♦ Year-on-Year growth of each market segment over the forecast period 2027
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In Addition, The Years Considered For The Study Are As Follows:
Historical year – 2014 to 2018
Base year – 2019
Forecast period – 2020 to 2026
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