The global coated papers market to grow at a CAGR of 3.43% during the period 2017-2021.
Global Coated Papers Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is cost-effective biodegradable packaging. The food and beverage packaging segment is expected to witness high growth. The change in consumer attitudes and the increasing preference for eco-friendly packaging materials are driving the demand for coated papers in food and beverage packaging. The emerging trend in the market is the focused effort by the market players to produce cost-effective biodegradable packaging materials. Vendors are investing in new innovations and technologies to develop cost-effective methods of production to overcome the challenges in the production stage.
According to the report, one of the major drivers for this market is growth in packaging industry. The global packaging market is expected to grow at a CAGR of 4.56% and will reach $1,121 million by 2021. The increase in demand for flexible packaging will drive the coated papers market.
The growth of the global packaging industry since 2005 had a significant impact on the increased demand for flexible packaging from the consumer goods industry. The view that packaging is an effective tool for marketing and promotion has also had a positive impact on market growth. The increase in the demand for food packaging materials will likely increase the market demand for coated papers during the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is rising pulp prices. Pulp is one of the main raw materials used for the production of coated papers. The decrease in plantations and the cutting down of trees have led to the declining supply of pulp for the global coated papers market.