Published Date : 28 Mar 2024
The global pulp and paper market size was evaluated at US$ 365.68 billion in 2023 and is expected to attain around US$ 511.53 billion by 2032, growing at a CAGR of 3.80% from 2023 to 2032.
The pulp and paper market deals with the manufacturing of paper products from recycled paper, wood, and other raw materials. It's an essential and fastest-growing industry that fulfills every side of daily lives, from books, magazines, catalog paper, glossy paper, and packaging that protects the products. The market has a remarkable impact on providing jobs and the economy and contributing to the global trade of paper products. Customers need to understand the manufacturing process and the environmental impact on the pulp and paper industry. The paper-based packaging uses the highest industrial wood traded globally. The Paper and pulp market incorporates industries that use wood as an unprocessed material and produce paperboard, pulp, and other cellulose-based products.
Asia Pacific dominated the paper and pulp market in 2023 and is estimated to grow fastest in the forecast period. This region currently controls the pulp and paper industry due to the commercial printing in the area and the growing requirement for good packaging. Moreover, it is accounted that the increase in the regional market will be supported by the booming economic growth of developing regions like Japan, India, and China. China is the biggest user and producer in the world. Vietnam, Indonesia, and Malaysia are expected to experience profitable expansion due to the growing standard of living and demand for paper-based products. In addition, the increasing urbanization and population in the Asia Pacific are vital factors in navigating the demand for food packaging and commercial printing.
North America and Europe are expected to grow slowly over the estimated period. Increased growth in North America is forecasted to be enhanced by rising fast-moving customer goods consumption, increasing packaging paper requirement in the U.S., and symbolic industries like Georgia-Pacific, WestRock, and international paper. The increasing significance of attaining sustainable goals by recycling paper-based products is likely to simultaneously impulse growth in Europe.
| Report Coverage | Details |
| Market Revenue in 2023 | USD 365.68 Billion |
| Projected Forecast Revenue by 2032 | USD 511.53 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 3.80% |
| Largest Market | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Driver
Rapid growth of online retail in emerging economics to fuel demand
Due to the high growth of smartphones and the internet, they are online in emerging economies such as Asian countries, Brazil, India, and China. Customers, especially younger ones, buy food, cosmetics, groceries, and other personal products online. Paper packaging is lightweight and appropriate for management. Also, the rising requirement for sustainability in retail packaging to decrease the negative effect of plastic packaging waste pushes the requirement for paper-passed packaging products. Hence, with fast online retailing, the requirement for corrugated boxes and paper bags will increase during the forecast period.
Restraints
Shifting trend toward digitalization
Printing Industry is continuously changing. So many publishing industries are moving towards electronic versions and replacing preceding printed volumes. A significant part of their respective markets is taken up by magazines, online newspapers, and e-books, while brochures, catalogs, and directories have their electronic alternatives. Most electronic money transactions, such as Phone Pay, Google Pay, and many others, are decreasing for cheques and currency. Moreover, due to the frequent rise of social networking, these factors are responsible for the volumes of some print components, such as books, catalogs, magazines, and many more.
Opportunity
Developing eco-friendly packaging
Developing eco-friendly packaging is a central and vital opportunity in the pulp and paper market. It is motivated by the customer demand for sustainability. Biodegradable and biobased materials involve creating new paper products which are not harmful to the environment. These alternatives disintegrate naturally and decrease waste materials compared to traditional plastics. Recycling materials absorbing a maximum percentage of recycled paper pulp into new packaging decreases interest in pure materials and minimizes environmental impact. Eco-friendly packaging is used in product packaging and packaging for home deliveries. Companies like Amazon have already switched to paper-based packaging for deliveries. Apart from that, companies are also switching to paper-based containers and one-time-use utilities such as straws, cups, and bowls.
Segments Covered in the Report
By Raw Material
By Manufacturing Process
By End Use Industry
By Category
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