Global Sack Paper Market (by Grade, & Region): Insights and Forecast Impact of COVID-19 (2022-2027)

DELHI, India - Oct. 13, 2023 - PRLog -- Sack paper is a form of packaging made of one or more layers of high-quality kraft paper, often made from virgin fiber. It is a particular grade designed to meet a very specific industry requirement. Sack paper is created from renewable materials such as paper and paperboard, which contribute to its environmental sustainability. As a result, it is environmentally friendly, strong, and preserves the goods in good condition.

The industry would develop in coming years due to an increase in the global biodegradable packaging market, expansion in grocery retail sales, and rising urbanization. The global sack paper market is likely to escalate to US$35.17 billion in 2023, witnessing growth at a CAGR of 4.39%, during the forecasted period. Furthermore, the global sack paper market by demand is expected to reach 4.38 million tons in 2023.

Top Impacting Factors:

Growth Drivers

• Global Biodegradable Packaging Market  
• Growth in Grocery Retail Sales
• Upsurge in Courier Services  
• Accelerating Demand for Agricultural Fertilizer        

Challenges

• Rising Focus on Bio-plastics  
• Stringent Regulations Regarding Deforestation      

Trends

• Escalating Penetration of E-commerce  
• Rising Demand for Market Pulp  
• Growing Use of Multiwall Bags in Various End Industries    

Analysis of Key Players:

The global sack paper market is concentrated, as almost half of the production capacity is coming from top 5 players.  The key players in the global sack paper market are:

• Canfor Corporation
• WestRock Company
• Nordic Paper
• Mondi plc
• BillerudKorsnäs
• GK Segezha PAO
• Gascogne
• Kastamonu Entegre (Natron-Hayat d.o.o. Maglaj)
• Canadian Kraft Paper Industries Ltd.
• Smurfit Kappa Group plc
• Fujian Qingshan Paper
• International Paper Company
• Georgia-Pacific LLC

Some of the strategies among key players in the market for Sack paper market are mergers, acquisitions, and collaborations. For instance, in 2022, Mondi plc announced that the company has agreed to acquire the Duino mill near Trieste (Italy) from the Burgo Group for a total consideration of US$40 million. Whereas, Nordic Paper announced cooperation with Centre Technique Du Papier. Nordic Paper's natural greaseproof papers is used in different food applications, for example as baking papers, for baking cups or for food containers.

For more Information:

https://www.konceptanalytics.com/report/others/global-sack-paper-market-by-grade-region-insights-and-forecast-with-potential-impact-of-covid-19-2022-2027

Koncept Analytics

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