Wrapping papers are mainly decorative or kraft papers which are used for gift wrapping of several end use applications. In recent few years there have been an increase in the usage of packaging for increasing the aesthetic look and appeal. The need for environmental and eco – friendly packaging material for several end use applications have given scope for wrapping paper market. Coupled with mounting concerns regarding the usage and of plastic products for packaging are some of the crucial factors boosting the wrapping paper materials in developing regions across the globe. The wrapping paper market is expected to grow significantly over the forecast period.
The changing lifestyle and increase in per capita income of several end users in developing countries across the globe are creating growth opportunities for wrapping paper market. Furthermore, large e – commerce companies such as amazon, flipkart, snapdeal, alibaba, etc. are playing vital role for fueling the demand for wrapping paper market. In addition, manufacturers of wrapping paper are directing the business segments towards retail promotion objectives.
Wrapping paper with high – quality printing and design, helps in providing effective advertising promotion of consumer goods. The increase need for eco – friendly and sustainable packaging have significantly increase the need for wrapping papers and is anticipated to witness significant growth over the forecast period.
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The North America wrapping paper market is expected to outdo the rest of the regions in terms of market value and volume. However, factors such as changing lifestyle, increasing internet penetration, and high rate of growth in preference for e-commerce platforms in countries such as India are expected to spearhead the growth of the wrapping papers market in the Asia Pacific. Therefore, the Asia Pacific region is expected to witness the highest growth rate during the forecast period.
Few of the key players in the wrapping paper market are International Paper Company, Oji Paper Co., Ltd., Nippon Paper Group, Inc., Rengo Co., Ltd., Mondi Group Plc., SCA Packaging Ltd., Japan Pulp & Paper Co Ltd, Smurfit Kappa Group Plc., Stora Enso Oyj, DS Smith Plc, Gascogne SA, Sequana SA, Boxes Prestige Ltd., Deufol AG, Sonoco Products Company, Graphic Packaging Holding Company, KapStone Paper and Packaging Corporation, WestRock Company, Griff Paper and Film Co., etc.
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