FELTON, California, June 17, 2020
FELTON, California, June 17, 2020 /PRNewswire/ -- The global Paper Products Market size is anticipated to reach USD 275.1 Billion by the year 2025, according to a new report by Million Insights. It is expected to grow with a CAGR of 0.3% over the forecasted period, 2019 to 2025. Rising demand for paper packaging in pharmaceutical and FMCG industries and other hospitality services is expected to drive the market growth during the forecasted period, 2019 to 2025. The rising awareness about the harmful effects of using plastics for packaging has also boosted the market growth. For instance, in 2017, Apple Inc. used 84% fewer plastics for the packaging of iPhone 7 as compared to iPhone 6.
Growing tourism and the rise in hospitality services are also expected to boost the market growth. This growth can be attributed to the increase in usage of tissue papers and other types of papers for packaging and hygiene purposes. In order to meet these rising demands, the manufacturers are setting up new machines to produce paper. As these machines are being set up to curtail the production expenses, the market for such products is expected to grow in the upcoming years. For example, in 2018, Cascades Inc. had launched a product range titled Cascades Pro Signature which had a greater absorbing capacity and could be reused. Also, Georgia Pacific had announced the installation of new tissue production machines. These manufacturers are continuously carrying out product development in order to penetrate the emerging markets thereby increasing their market share.
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The trend of capacity expansion is also being prevalent in this industry. For instance, an Italian manufacturer of tissue papers named SOFIDEL announced the start of construction of second tissue producing mill in the city of Inola/ Oklahoma which would have a production capacity of around 1,20,000 tons/year. The market is very competitive due to the presence of many brands. The key players in this market include Procter & Gamble; Kimberly-Clark Corporation; KP Tissue, Inc.; Cascades, Inc.; Clearwater Paper Corporation; and many others.
Further key findings from the report suggest:
Browse 80 page research report with TOC on "Global Paper Products Market" at: https://www.millioninsights.com/industry-reports/global-paper-products-market
Million Insights has segmented the global paper products market on the basis of application, and region:
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