Global Market For Paper Flexible Packaging To Grow 6% CAGR To 2027 Despite COVID-19 Restraints

The Global Flexible Packaging Paper is expected to grow at a CAGR of 6.0% to 2027, says a new study by Research & Markets. Increasing adoption of eco-friendly packaging products by consumers and rising use of packaging formats as a branding tool are the major factors driving the market growth. However, the impact of COVID-19 is restraining market growth.

Based on packaging type, the bags & sacks segment is likely to have a huge demand because of its utilisation in the packaging of food grains, bakery & confectionery, and consumer goods have resulted in high demand for bags & sacks all over the world. By geography, Asia Pacific will have a lucrative growth during the forecast period as China and India have seen a shift in demand from plastic to paper due to strict norms for the use of plastic.

Some of the key players profiled in the Flexible Packaging Paper Market include BillerudKorsnas AB, Canadian Kraft Paper Ltd, DS Smith PLC, Emami Paper Mills Ltd, Gordon Paper Company Inc, Gulf Paper Manufacturing Co., International Paper, JK PAPER Ltd, KRPA Holding CZ a.s., McNairn Packaging, Mondi Group, Nippon Paper Industries Co Ltd, Nordic Paper AS, PG Paper Company, Pudumjee Paper Products Ltd , Rengo Co Ltd, Sappi Limited , Smurfit Kappa Group PLC, Stora Enso Oyj and WestRock Co.