Posted On: 2021-11-08
Kraft paper packaging acquired the largest market revenue share among all the types of paper packaging in the overall Bangladesh paper packaging market – 6Wresearch
Bangladesh paper packaging market has witnessed significant loss in market size in the recent years due to majorly skewed dependence of the market on import of packaging paper which in turn affected the domestic market on account of fluctuation in international prices coupled with disruption in global supply chain owing to spread of coronavirus across the globe. Domestic packaging paper manufacturing constitute approximately 20-30% of the paper industry in Bangladesh while the rest demand is met via import.
According to 6Wresearch, the Bangladesh Packaging Paper Market revenue size is projected to grow at a CAGR of 5.2% during 2021-2027. The primary reason for growth in the Bangladesh packaging paper industry can be attributed to the e-commerce industry boosted by rapid urbanization and rising population. Bangladesh paper packaging market is expected to witness a healthy growth in the coming years on account of the rising consumer awareness about sustainable and environmentally friendly packaging options coupled with government initiatives such as National Sustainable Development Strategy (2010-2021) to ensure sustainable economic growth and environment protection. Further, global paper packaging market is a stable market wherein mostly medium/media paper packaging garnered major share owing to being the primary choice of packaging paper in logistic of global supply chain.
According to Eshita Goel, Assistant Manager- Research, 6Wresearch, “Among all sectors, industrial packaging held the major market revenue share in the year 2020 and the same trend is expected to prevail in the years to come on account of the rapid expansion of garment industry in Bangladesh. Moreover, government policies to boost the industrial sector is expected to create a cascading effect, which would give an impetus to the packaging paper market in Bangladesh.”
“In the near future though the market seems grim, yet according to our study- with resumption of the domestic as well as global market to pre Covid-19 level the demand in the market is expected to augment in near future.”, Eshita further added.
According to Shivankar Guha, Research Associate, 6Wresearch, “The skewness of the Bangladesh packaging paper market towards import is currently dictating the packaging paper market dynamics of the country. However, with government aid in the form of policies and reviving some dwindling paper mills across the country would shape the future market dynamics.”
Some of the major companies in Bangladesh paper packaging market include Bashundhara Paper Mills Ltd., Hakkani Pulp & Paper Mills Ltd., Younus Group, Meghna Group of Industries, Magura Group Ltd., Habib Group Ltd., MAQ Paper Industries Ltd., S.A. Group of Industries and Hasan Group.
“Bangladesh paper packaging market (2021-2027)” report provides an in-depth analysis with 27 figures and 11 tables, covered in 88 pages. The report estimates and forecast the overall Bangladesh paper packaging market by types and by end users. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.