A recent report by Transparency Market Research on global Sack Kraft paper market states that the market is expected to witness a consistent growth during 2016 to 2024. Moreover rising application of Sack Kraft papers in industries such as food and beverages to reduce the use of non-biodegradable products such as plastic is also expected to propel growth of the global Sack Kraft paper market. Further, booming cement industry in Asia Pacific and Middle East and Africa has also augmented the demand for Sack Kraft paper.
- Market is Expected to Generate the US$ 10.5 Bn
According to the report, the global Sack Kraft paper market is expected to grow at 2.6% CAGR during the forecast period. This growth of the market is attributed to demand for Sack Kraft papers in various industrial verticals which are providing lucrative openings to the players.
Analyzing the opportunities, the experts at Transparency Market Research predicts that the market is expected to generate the revenue of US$ 10.5 Bn during the forecast period. Also, the historical analysis of the global Sack Kraft paper market by the experts states that the market stood at US$ 8.4 Bn during 2015. This implies that the market has an incremental potential of US$ 2.1 Bn during the forecast period.
- New Players with innovative Products to Kindle Stiff Competition
The global Sack Kraft paper market has a highly competitive scenario. This is because there are various players that are currently operating in the market. Above that as a result of lucrative opportunities, new players are entering into the market which is further intensifying the competition.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision-makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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