The global crepe paper market size was worth around USD 1.35 Billion in 2022 and is predicted to grow to around USD 1.785 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 4.07% between 2023 and 2030.
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➤ Demand for sustainable packaging solutions is on the rise, which is expected to drive market expansion.
The global crepe paper market is anticipated to expand as a result of the growing demand for sustainable packaging solutions. Crepe paper is a superior substitute for conventional and more frequently employed packaging materials. They are recyclable and biodegradable, which results in a longer-term increase in sustainability. Cardboard and plastics are among the conventional packaging solutions. These components are not environmentally favourable. Plastic is regarded as the most detrimental pollutant in the packaging industry.
➤ Increasing competition from alternative sources to limit market expansion
In the global crepe paper industry, there is a significant amount of competition from alternative packaging solutions. While end-users are increasingly inclined towards sustainable packaging materials, there is a widespread availability of alternative environmentally friendly materials, including biodegradable plastics and recycled paper. In comparison to crepe paper, they are the most cost-effective and readily available option. During the forecast period, this could serve as a substantial impediment to growth.
➤ The expansion of emerging economies is expected to generate exceptional development prospects.
Players in the global crepe paper industry can anticipate increased development prospects in emerging markets or segments that have yet to be explored. Due to the growing disposable income and product awareness rates, countries such as Africa and Asia have significant growth potential. Furthermore, the expanding population of Asia represents a larger consumer base that has the potential to generate additional revenue. Additionally, the government’s increasing emphasis on sustainability may result in the increased use and significance of crepe paper in these countries, as opposed to traditional packaging.
➤ The market’s development will be challenged by the volatility of raw material prices
Wood pulp or synthetic fibres are among the raw materials employed in the production of pancake paper. The final product cost is significantly influenced by even the slightest alteration in global supply chain dynamics, as the cost of these materials is subject to a high rate of volatility. The price is also susceptible to fluctuations in other variables, including weather patterns and natural disasters. In such circumstances, the profitability of pancake manufacturers is significantly impacted, rendering it challenging to predict future trends.
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The Global Crepe Paper Market is segmented based on product, application and region
Global Crepe Paper Market: Product Segment Analysis
● Decorative
● Masking
Global Crepe Paper Market: Application Segment Analysis
● Crafting & Decoration
● Medical
● Masking
● Packaging
● Cleaning
● Medical
● Costumes & Theatre
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The global Crepe Paper market profiles key players such as:
● Oji Holdings Corporation
● Ahlstrom-Munksjö
● Mondi Group
● Glatfelter
● Cascades Inc.
● Georgia-Pacific LLC
● Nippon Paper Group Inc.
● Onyx Specialty Papers Inc.
● International Paper Company
● Kruger Inc.
● Nine Dragons Paper (Holdings) Limited
● Lee & Man Paper Manufacturing Ltd.
● Daio Paper Corporation
● SCA Tissue North America LLC
● Sino Forest Corporation
???? Recent Developments:
• The Paper & Petal Studio announced the introduction of a new collection of colours for crepe paper in July 2021. The company’s website displayed the complete selection of colours, with each colour being colour-coded to facilitate comprehension. The new colours are applicable in a variety of contexts, such as office spaces, nursery units, and weddings, as stated in the company announcement.
• Andhra Paper Limited, an Indian company, announced in January 2023 that it would invest INR 2000 crore in the acquisition of paper board apparatus with a production capacity of 1,75,000 tonnes per annum (TPA). The company’s pulp and paper board capacity are anticipated to increase by 2,21,000 TPA and 1,56,000 TPA, respectively, as a result of the new addition..
➤ North America will maintain its market dominance on a global scale.
North America is anticipated to experience the most significant growth in the global crepe paper market, with the United States and Canada serving as the market’s leaders. The regional segment has already reached maturity and is exhibiting exceptional growth potential. Since crepe paper is extensively employed in medical applications, including bandages, surgical garments and medical wrapping, the regional industry is significantly impacted by the growing demand in the medical sector. The demand for crepe paper and other packaging solutions is expected to increase as the region continues to invest in its existing advanced medical infrastructure.
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