Financial independence, along with a rise in the working population across the globe, has contributed to improved decision-making among the mass. This change in the purchasing behavior of consumers is driving the demand for various sanitary and hygiene products. Also, due to the transformation in purchasing habits of consumers in emerging markets, their power of decision-making, especially for women, has increased in the past few years. Furthermore, increased awareness about the use of hygiene products such as tissue paper is also driving the growth of the global BKP market. Therefore, due to such factors, the market is expected to showcase a positive outlook over the forecast period.
As per Technavio, the advent of smart packaging will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global bleached kraft pulp market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global bleached kraft pulp market: Advent of smart packaging
Smart packaging refers to packaging systems with an embedded sensor technology used to pack -foods, pharmaceuticals, and many other types of products. This technology is useful to extend shelf life, monitor freshness, display information on quality, and improve product and customer safety. Consumers these days are aware of the quality and safety of the food they consume. Also, smart packaging provides enhanced usability of consumer goods and safety features such as antimicrobial, anti-oxidation, and nanotechnology-enabled packaging. Currently, smart packaging is growing to be a part of many industries, such as food and beverage, cosmetics, and consumer goods. This technology requires the use of specialty papers and is the key trend driving the entire specialty paper industry. Thus, it is expected that this factor will support the global BKP market as a positive trend during the forecast period.
“Paper companies are modifying their packaging products in line with the demand from the e-commerce industry. Increasing adoption of the internet and e-commerce business model by most companies is driving the packaging paper industry positively and steadily. Thus, this trend is driving the demand for packaging products in e-commerce as well as contributing largely to the growth of the BKP market,” says a senior analyst at Technavio.
Global bleached kraft pulp market: Segmentation analysis
This market research report segments the global bleached kraft pulp market by product (bleached hardwood kraft pulp and bleached softwood kraft pulp) and geographical regions (APAC, Europe, North America, South America, and MEA).
The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA, respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth due to the growing number of offices and commercial places in the region that is fueling the demand for hygiene products.
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