PUBLISHER: The Business Research Company | PRODUCT CODE: 1435338
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435338
Converted paper products refer to items used in the production of paper bags, coated and processed paper goods, and paperboard, typically made from flexible film and other acquired paper materials for commercial and general purposes.
The main types of converted paper products include paperboard containers, sanitary paper products, stationery products, paper bags, coated and treated paper, and various other converted paper products. The term "stationery" encompasses mass-produced writing products such as letters, paper, pencils, pens, and other office supplies. Raw materials for converted paper products include wood, agro residues, waste, and recycled paper. These products find applications in sectors such as packaging and wrapping, food service, printing, and others.
The converted paper product market research report is one of a series of new reports from The Business Research Company that provides converted paper product market statistics, including converted paper product industry global market size, regional shares, competitors with a converted paper product market share, detailed converted paper product market segments, market trends and opportunities, and any further data you may need to thrive in the converted paper product industry. This converted paper product market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The converted paper products market size has grown strongly in recent years. It will grow from $615.38 billion in 2023 to $661.74 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth observed in the historical period can be attributed to factors such as economic growth and industrialization, population growth and urbanization, increased environmental awareness, consumer preferences for convenience, and government regulations and standards.
The converted paper products market size is expected to see strong growth in the next few years. It will grow to $872.9 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The anticipated growth in the forecast period can be attributed to factors such as the expansion of e-commerce, the adoption of sustainable packaging practices, the use of biodegradable and compostable materials, regulatory compliance, the utilization of eco-friendly printing inks, and the shift towards digital media. Major trends expected in the forecast period include innovations in packaging design, customization and personalization, research and development investments in paper technology, innovations in specialty papers, and the exploration of paper-based alternatives to single-use plastics.
The growing demand for online shopping is anticipated to foster the expansion of the converted paper products manufacturing market. Manufacturers now have the opportunity to sell their products on a larger and more diverse platform, significantly increasing their geographical reach and customer base. This shift, exemplified in countries such as India where e-commerce portals have elevated the sales of paper product manufacturers, provides broader exposure to producers who were previously confined to specific geographical areas based on their communities.
The surging popularity of food delivery services is expected to be a driving force behind the growth of the converted paper product market. Food delivery services heavily rely on packaging, particularly converted paper items such as corrugated boxes, paper bags, and cartons, to transport meals from restaurants to customers' doorsteps. These paper products play a crucial role in preserving the freshness and temperature of food, ensuring it reaches customers in optimal condition. Notably, major meal delivery services recorded a 6% yearly growth in combined sales, as reported by Bloomberg Second Measure in September 2023.
The outbreak of the COVID-19 Disease (COVID-19) had a substantial negative impact on the converted paper products manufacturing market in 2022. Disruptions in supply chains due to trade restrictions, coupled with a decline in consumption caused by global lockdowns, contributed to this setback. However, it is expected that the market will recover from this shock over the forecast period, as the pandemic is considered a 'black swan' event and not indicative of ongoing or fundamental weaknesses in the market or the global economy.
The paper industry is undergoing a transition from labor-intensive manufacturing processes to automated production facilities. Automation has empowered converted paper product companies to enhance productivity, reduce production costs, and save on energy expenses. Advanced control systems such as integrated drive systems (IDS) are playing a crucial role in improving plant efficiency by minimizing energy consumption and simplifying service and maintenance processes. A notable example is the partnership between Swedish company Stora Enso and Siemens to automate the Skoghall facility.
Leading companies in the converted paper product market are prioritizing the development of sustainable products, such as recycled paperboard, to meet consumer demand for recycled content and gain a competitive edge. Recycled paperboard, produced from recovered paper waste, converting plants, and consumer sources, represents a sustainable choice. Graphic Packaging International (GPI) took a step in this direction by launching PaceSetter Rainier, a coated recycled paperboard (CRB), in August 2023. This product offers enhanced brightness and whiteness compared to traditional CRB and competes directly with solid bleached sulfate (SBS) and folding box board (FBB). Initially available in 12pt to 18pt calipers, this new paperboard grade is suitable for various packaging applications, including healthcare, beauty, confectionery, dry goods, dairy, and more.
Major companies operating in the converted paper products market report are The Procter & Gamble Company, WestRock Company, International Paper Company, Kimberly Clark Corporation, Essity AB, Georgia-Pacific LLC, Smurfit Kappa Group PLC, Stora Enso Oyj, Oji Holdings Corporation, UPM-Kymmene Corporation, DS Smith PLC, Graphic Packaging Holding Company, Mondi Group, Nippon Paper Industries Co. Ltd., Packaging Corporation of America, Sonoco Products Company, Unicharm Corporation, Domtar Corporation, Cascades Inc., Reynolds Group Holdings Limited, Ahlstrom-Munksjo Oyj, Metsa Group, Burgo Group S.p.A., SCA Group, Clearwater Paper Corporation, Svenska Cellulosa AB, Cenveo Corporation, Kruger Inc., Wausau Paper Corp., Canfor Pulp Products Inc., Daio Paper Corporation, Delta Paper Mills Limited, Evergreen Packaging LLC, Finch Paper LLC, Glatfelter Corporation, Hokuetsu Corporation, Huhtamaki Oyj, KapStone Paper and Packaging Corporation, Long Chen Paper Co. Ltd.
Asia-Pacific was the largest region in the converted paper products market in 2023. North America was the second largest region in the converted paper products market. The regions covered in the converted paper products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the converted paper products market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.
The market for converted paper products consists of sales of kraft bags, corrugated paperboard, and linerboard. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Converted Paper Products Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on converted paper products market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for converted paper products ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The converted paper products market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.