India Paper and Paper Products Market to Surpass $ 13 Billion by 2024
Requirement
of better-quality packaging of FMCG products, rising demand for upstream market of paper products and
increasing income levels to boost India paper & paper products
market through 2024
According
to TechSci Research report, “India Paper and Paper Products Market By Application, By Raw Material, Competition,
Forecast & Opportunities, 2024”, paper
& paper products market in India is projected to reach $ 13.4 billion by
2024. Notably, the need for better-quality packaging of FMCG products, increasing
demand for upstream market of paper products and rising income levels are
anticipated to drive India paper & paper products market through 2024. The world's three largest paper producing countries are China, US and
Japan (capturing nearly 50% of the total global paper production), whereas
India accounts for a small yet growing share of the global market.
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Based on raw material, waste & recycled
paper segment dominated the market in 2018 and is expected to maintain its
leading market position in coming years, owing to increasing focus on
environment protection. In terms of application, the market has been segmented
into writing & printing paper, paperboard & packaging, newsprint and specialty
paper. With huge
demand in industries including FMCG, food & beverages, textiles and pharmaceuticals,
paperboard & packaging segment is expected to account for the largest
market share during forecast period. The
packaging paper & board segment is registering strong growth, on account of
growing fondness for ready-to-eat food items and need for superior-quality
packaging of FMCG products which are marketed through organized retail.
Regionally, the paper & paper products market has been segmented into
North, South, East and West. Among these regions, the western region is anticipated
to dominate the paper & paper products market, owing to the availability of
forest resources in the vicinity of the plant location, availability of water
and flexible forest policy of the states in the region.
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“In India, imports account
for over 20% of the paper consumption. Domestic paper manufacturers are less
competitive against imports, given the superior quality and low costs of
imported paper. As per the Indian Paper Manufacturers Association (IPMA), paper
from ASEAN countries that is produced from raw wood is available at
approximately $ 40 per tonne, compared to $ 110 per tonne in India.
Furthermore, rising imports at high prices from surplus countries such as China
is a major concern for local market players in India.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“India Paper & Paper Products Market
By Application, By Raw Material, Competition,
Forecast & Opportunities, 2024” has evaluated the future
growth potential of India paper & paper products market and provides
statistics and information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in India paper & paper products market.
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