Future Market Insights, an ESOMAR-certified market research and consulting firm, released its Machine Glazed Kraft Paper Market report, which includes global industry analysis, growth, share, size, trends and forecasts for 2020 to 2030. According to the report, the market is expected to grow by 1.6x during the forecast period, with an overall valuation projected to surpass $9.13 billion by 2021.
A rising demand from the food and beverages sector, in response to an increasing focus on sustainable packaging is a contributing growth factor. While a decline in sales is likely, following the COVID-19 outbreak, a recovery is expected from 2022 onwards. In addition, the study also forecasts that the food and beverages sector will account for over 27% of sales in the market through the forecast period.