LONDON--(BUSINESS WIRE)--The paper starch market is expected to grow by USD 1,700.88 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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The global paper starch market will not see any major impact due to the spread of COVID-19. Consumers are neither expected to increase nor decrease their demand. However, the market outlook might change if the containment efforts go beyond Q2 2020.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
The education sector is one of the major end-users of the global paper market. Over recent years, the number of educational institutions and student enrolments in academic institutions has significantly increased worldwide. This can be attributed to the growing support for educational institutions and students through government initiatives and technological advancements and infrastructural development in the education sector. For instance, the budget for India’s education sector was increased by nearly 12% during 2019-2020. With the new budget, the Indian government is expected to spend about USD 9.29 million on the development of infrastructure of institutions in various states across the country. This is expected to increase the number of educational institutions as well as student enrolments. Such rapid developments in the educational sector are expected to fuel the growth of the global paper starch market during the forecast period.
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As per Technavio, the booming e-commerce and packaging industry will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Paper Starch Market: Booming E-commerce and Packaging Industry
Factors such as the expansion of the middle-class population, the growth of organized retail, a rapid rise in exports, and the booming e-commerce industry are significantly contributing to the growth of the packaging industry. Besides, rapid internet penetration and the rising emergence of non-banking players in the payment industry have increased per-capita plastic consumption worldwide. The per capita packaging consumption is approximately 110 kg in the US, 65 kg in Europe, 45 kg in China, 30 kg in Brazil, and 10 kg in India per year. These factors are compelling paper companies to modify their packaging products in line with the demand from the e-commerce industry. Therefore, the growing e-commerce sector and the increasing demand for paper from the packaging industry is expected to positively impact the paper starch market during the forecast period.
“Emergence of various types of paper and the growing population of the emerging markets will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Paper Starch Market: Segmentation Analysis
This market research report segments the paper starch market by application (packaging paper and paperboard, printing and writing paper, and others) and geography (APAC, Europe, North America, South America, and MEA).
The APAC region led the paper starch market in 2019, followed by Europe, North America, South America, and MEA respectively. During the forecast period, APAC is expected to register the highest incremental growth due to the increased demand for recycled printing and writing paper in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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