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. The report analyzes the global crepe paper market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the crepe paper market.
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The expanding sales of crepe paper, which has a wrinkled and crinkled texture, which is a subset of the wider paper and pulp business, are what fuel the crepe paper industry. The process of creping, which involves stretching and compressing the paper fibres, is used to make pancake paper. The paper contracts as a result of this process, giving it a crinkled texture.
Pulp, cotton and synthetic fibres are only a few of the elements that can be used to make pancake paper. It has a multitude of applications and comes in a wide range of thickness and colour options. For instance, gift wrapping, handicraft, and party decorations all use decorative pancake paper. The pancake paper market is currently divided into three segments depending on type, application, and geography, with one particular sub-segment dominating each category. The industry is anticipated to experience both growth opportunities and growth challenges throughout the projected period.
Demand for eco-friendly packaging will increase, driving market expansion.
Due to the rising need for environmentally friendly packaging options, the market for pancake paper is anticipated to expand globally. Crepe paper is a great substitute for more conventional and often used packaging materials. They are recyclable and biodegradable, which results in longer-term sustainability. Cardboard and plastic are common materials for packaging. These materials are not eco-friendly. The worst contaminant in the packaging industry is thought to be plastic. The demand for pancake paper is projected to expand steadily as public awareness of careless consuming practises rises as a result of several factors, including greater awareness-related actions by the government and other environmental authorities.
Competition from substitutes is intensifying and limiting market expansion.
Alternative packaging options are fiercely competing with crepe paper on a global scale. Although consumers are exhibiting a greater preference for sustainable packaging materials, additional eco-friendly materials like recycled paper and biodegradable plastics are also available. Compared to crepe paper, they are the most affordable and easily accessible. This can significantly hinder growth during the projection timeframe.
Growing development in emerging economies will present fantastic economic prospects.
Players in the global pancake paper market can anticipate greater growth potential from developing markets or untapped niches. A result of rising disposable income and product knowledge, regions like Africa and Asia have enormous growth potential. Additionally, Asia’s expanding population means a greater pool of consumers who may generate more income. Additionally, the increased focus on sustainability by the government may encourage these nations to value and use crepe paper more than they do conventional packaging.
Volatility in raw material prices will impede market expansion.
Crepe paper is made using wood pulp or synthetic fibres as raw ingredients. These materials’ costs are very volatile, and even a small shift in the dynamics of the global supply chain can have a significant effect on the price of the finished product. Weather trends and natural disasters are two major elements that can affect the pricing. In such circumstances, it is challenging to predict future developments because the profitability of pancake makers is still under intense pressure.
The global crepe paper market is segmented based on type, application, and region.
Global Crepe Paper Market: Type Segment Analysis
● Decorative
● Masking
● Others
Global Crepe Paper Market: Application Segment Analysis
● Crafting & Decoration
● Medical
● Masking
● Packaging
● Cleaning
● Medical
● Costumes & Theater
Developments recently:
• The Paper & Petal Studio announced the introduction of a new palette of hues for crepe paper in July 2021. On its website, the corporation displayed all of the available colours, each with a colour code for easier comprehension. According to the company’s release, the new hues can be used in a variety of contexts, such as offices, nurseries, and weddings.
• The Indian company Andhra Paper Limited stated in January 2023 that it will invest INR 2,000 crore to purchase paper board machinery with a 1,75,000 TPA manufacturing capacity. The new addition is anticipated to expand the company’s pulp and paper board capacity by 2,21,000 TPA and 1,56,000 TPA, respectively.
• Voith and Essity, a hygiene and health company and a technology company, respectively, established a partnership in March 2023 to create a sustainable tissue production method.
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The global crepe paper market is led by players like:
● 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
North America will maintain its hegemony over the world market.
North America, led by the US and Canada, is anticipated to have the highest growth in the global crepe paper market. The regional market is already developed and expanding in a very positive way. Since crepe paper is frequently used for items like medical wrapping, bandages and surgical gowns, the rising demand in the medical sector is significant for the local economy. The market for crepe paper and other packaging solutions is projected to show good indicators as the region invests more in its already-existing superior medical infrastructure. Additionally, the rising popularity of environmentally friendly packaging options could result in a greater uptake of pancake papers.
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