Read the Trend research news based on the scope of speciality paper in 'Minimalist Pack Trend.
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Lowering preference for plastics across diverse end-use verticals, ranging from packaging and labelling to pharmaceuticals, has induced a shift toward viable alternatives, such as speciality paper.
The study positions the speciality papers market for a bullish run in the upcoming years.
Fact.MR says sales of speciality papers are surging in the wake of associated beneficial attributes, ranging from enhanced strength to smoothness. Use of MFCs has witnessed a considerable uptick on the back of its high material strength, which has been identified as a pervasive trend gaining momentum in the global market space. Moreover, increasing sensitivity toward environmental sustainability is one of the overarching trends contributing to the growth of speciality papers market.
“Demand for speciality papers is benefiting from the trend of minimalism in case of the packaging industry, with rising preference for solid colours and plain designs,” according to a senior Fact.MR. analyst. “Moreover, spurring sales of grab-n-go foods is complementing the speciality paper, owing to its moisture retention capacity and pH levels. Rising fad for instant beverage premixes in the form of sachets is complementing the adoption of speciality paper.”
As per the report, demand for kraft speciality papers possessing good printability and processability attributes combined with high versatility is witnessing an uptick, with volume sales valued at 5,665 tons in 2018. Décor speciality papers trail the former in terms of popularity, driven by the pervasiveness of DIY art and craft, home décor, and gifting.
Packaging and labelling industry represents the largest end-use segment in terms of demand for speciality papers with impressive revenue statistics, both in 2018 as well as 2017. Upswing in demand for cost-effective media serving small to medium order quantities with utmost flexibility is fostering the popularity of speciality papers in the packaging and labelling industry. Building and construction represent the second-most notable end-use segment and offers multiple opportunities for the manufacturers to tap into, with volume sales of 3,775 tons recorded in 2018.
Speciality papers market is witnessing a notable surge in demand for customised products in a wide range of colours and ream weights. Innovative approach in combination with manufacturing flexibility is enabling speciality papers’ manufacturers to offer a portfolio of customised products crafted for common as well as niche applications. High scale proliferation of e-commerce and subsequent growth in shipments are also fuelling the adoption of high-grade speciality papers to facilitate recyclable packaging.
The demand for speciality papers remains closely associated with demographic shifts and consumer trends such as the preference for convenience and sustainability, finds Fact.MR. Persistent innovation has been identified to be paramount for growth amid the customer marketplace, which can be fueled by seasonal inspirations derived from sources such as consumer-goods companies, consumer surveys, social media and so on.
Management of operating costs in the production of speciality papers remains one of the key areas, wherein companies need to attain a tighter grip. Despite the fact that this aspect receives continual attention from management, the evolving trends convey that there is still remarkable potential for cost reduction by moving away from the conventional approaches and moving to the next level of cost optimisation via smart work.
According to the report, global speciality papers market is likely to register a volume CAGR of more than 2% over the forecast period of 2019 to 2027.