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Paper products have shown a robust market development for years as it is one of the most essential commodity, which is largely consumed on a daily basis. The ability to reduces greenhouse gas emissions, easy disposability, and decrease energy and water consumption is helping to increases the preference rate over its substitute products. The rising growth of air pollution assisting to surge the use of paper wipes to help prevent from multiple skin issues is serving to generate more demand. For instance, the State of Global Air 2019 Report by HEI and IHME, mentions that 90 percent of people across the globe live in an area that surpasses the World Health Organisation guideline of healthy air.
People worldwide, increasingly inclined towards the consumption of sustainable products, have played a significant role in driving the market growth. As per the data presented by the International Trade Centre, and European Commission data in May 2019, states that the increase in sales of the sustainable product over five years in the European countries, which include Germany84 %, France 90, and Italy 84 %. Besides, the escalating utilization of toilet paper, especially in western countries, is anticipated to have a positive impact in spiking the demand for paper products. For instance, the Tissue World Magazine data, mentions that in 2018 people in North America used 25 kilograms of paper per person.
Nevertheless, the increasing cost of primary raw materials such as trees, bamboo, and others use for the production of paper products acts as a restraining factor for the market growth.
Key Market Driver -
The growing inclination towards sustainable products act as a driving factor for the market growth
Key Market Restraint -
The rising cost of primary raw materials is acting as a hampering factor for the market growth.
Irving Consumer Products Limited, Procter & Gamble, Essity Aktiebolag, Kimberly-Clark Corporation, Clearwater Paper Corporation are the key companies operating in the paper products market.
The paper products market is segmented into by product type, application, distribution channel, and geography.
On the basis of product type, the market is fragmented into hygienic products, stationery products, packaging products, and others. Packaging products are estimated to be the dominant market owing to retail stores and consumers around the world increasingly attracted by the product biodegradability and recyclability is propelling the utilization of the product.
Based on application, the market is bifurcated into household and commercial. Commercial is projected to be the larger market on account of large number of places such as restaurants, schools and colleges, hotels, manufacturing plant, and others largely utilizing the product in various ways.
By distribution channel, the market is divided into e-commerce stores and offline stores. Offline stores are anticipated to be the greater segment due to its ability to help avoid the purchase of wrong products, which are difficult to differentiate through online browsing. Also, the simplicity and less complication concerning return and replacement are making more consumers choose offline stores over e-commerce stores.
On the basis of region, the market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
North America is estimated to be the prominent market shareholder and is anticipated to continue throughout the forecast period of 2020-2027. The flourishing growth of the tissue paper market fostering the need of paper products has a positive impact on the market growth. For instance, according to the data published by NRDC.Org in February 2019, is stating that the United States tissue market is anticipated to make a revenue of around USD 31 billion on a yearly basis. Similarly, the rising number of people participating in outdoor activities in this region has a significant contribution in the usage of paper products for various purposes, including disposable food ware, wipes, and others. As per the Outdoor Industry Association data in January 2020, 50.5 percent of the American population were evaluated to be involved in outdoor activities in 2018.
Asia Pacific is expected to have a substantial growth in the paper products market owing to the government in this region increasingly impose of the usage of plastic packaging is projected to have a significant contribution. For instance, according to the data released by the Ministry of Home and Urban Affairs in June 2018, is proclaiming that large number of Indian states entirely or partially banned the usage of plastic bags. Additionally, the booming growth of the educational institution in this region is assisting to upsurge the usage of the product, especially stationery-related paper products favors the market growth. For instance, the World Education News Reviews.Org data issued, December 2019, is proclaiming that China has about 514,000 educational institutions, which is around 270 million students.
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