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How Rapidly is the Contract Research And Manufacturing Services (CRAMS) Market Expected to Expand Between 2025 and 2034 Based on Current Trends?

The market size for converted paper products has shown robust growth in the recent past. The forecast is that it will expand from a value of $614.12 billion in 2024 to be worth $665.76 billion in 2025, with a compound annual growth rate (CAGR) of 8.4%. Factors contributing to this growth during the historic period include economic expansion and industrial development, rise in population and urbanization, increased environmental consciousness, consumer demand for convenience, and governmental rules and standards.

The market size for converted paper products is anticipated to witness remarkable expansion in the upcoming years, reaching $889 billion in 2029 with a compound annual growth rate (CAGR) of 7.5%. This growth, expected in the forecast period, is triggered by factors such as the rise of e-commerce, adoption of eco-friendly packaging measures, utilization of biodegradable and compostable materials, regulatory compliance, and the usage of environmentally friendly printing inks, along with the shift towards digital media. Key trends for the forecast period comprise advances in packaging designs, customization and personalization, resource allocation for R&D in paper technology, developments in specialty papers and paper-based solutions that can replace single-use plastics.

How Are the key drivers Contributing to the Expansion of the contract research and manufacturing services (crams) Market?

The converted paper products manufacturing market is anticipated to expand due to the rising demand for online shopping. This allows manufacturers to market their products on a wider platform than before, broadening their geographic customer base and propelling the market growth. For example, the U.S. Census Bureau, part of the U.S. Department of Commerce, reported e-commerce sales in the U.S. for the second quarter of 2024 as totaling $282.3 billion. This represented a rise of 5.3 percent (± 0.7) from the first quarter of 2023. Consequently, the surging demand for online shopping is fueling the growth of the converted paper product market.

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Which Key Players Are Shaping the Future of the Contract Research And Manufacturing Services (CRAMS) Market?

Major companies operating in the converted paper products market include:

• WestRock Company_x000D_

• International Paper Company_x000D_

• Kimberly Clark Corporation_x000D_

• Essity AB_x000D_

• Georgia-Pacific LLC_x000D_

How Are the Latest Trends Influencing the Growth of the Contract Research And Manufacturing Services (CRAMS) Market?

The focus for leading firms in the converted paper products market has shifted towards innovating sustainable packaging solutions like paper outer bags. This move is aimed at minimizing their dependence on new plastics and improving recyclability. The term paper outer bags imply packaging alternatives made from paper that can replace the conventional plastic packaging. An apt example of this can be seen with Walkers, a renowned snack food company based in the UK known for its potato crisps. In October 2023, Walkers introduced its paper outer bags for its Baked crisps selection. The objective of this endeavor is to cut down on the use of new plastic by 180 tonnes every year while also offering a packaging alternative that can be easily recycled at home. This initiative is a part of Walkers’ consistent efforts to bring new ideas to the table and eliminate the usage of virgin plastic in their packaging, which would ultimately lead to a decline in their carbon emissions.

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What Are the Major Segments of the Contract Research And Manufacturing Services (CRAMS) Market and Their Role in Driving Growth?

The converted paper products market covered in this report is segmented –

1) By Type: Paperboard Container, Sanitary Paper Product, Stationery Products, Paper Bag And Coated And Treated Paper, All Other Converted Paper Products

2) By Raw Material: Wood And Agro Residue, Waste And Recycled Paper

3) By End-Use: Packaging And Wrapping, Food Service, Printing, Other End Users

Subsegments:

1) By Paperboard Container: Folding Cartons, Rigid Boxes, Corrugated Boxes, Paperboard Cups And Trays, Paperboard Containers For Food Packaging

2) By Sanitary Paper Product: Toilet Paper, Paper Towels, Facial Tissues, Napkins, Wipes

3) By Stationery Products: Notebooks And Writing Pads, Envelopes, Paper Sheets And Pads, Paper Cards, Post-It Notes

4) By Paper Bag And Coated And Treated Paper: Kraft Paper Bags, Shopping Bags, Stand-Up Pouches, Grocery Bags, Retail Paper Bags, Coated Paper For Printing And Writing, Specialty Coated Paper, Food Packaging Paper, Water-Resistant Paper, Barrier Coated Paper

5) By All Other Converted Paper Products: Paper-Based Food Packaging, Paper Straws, Paper-Based Films And Laminates, Paper Labels, Paper Cups And Plates

What Regions Are At the Forefront of Contract Research And Manufacturing Services (CRAMS) Market Expansion?

Asia-Pacific was the largest region in the converted paper products market in 2024. North America was the second largest region in the converted paper products market. The regions covered in the converted paper products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

How Can We Define the Contract Research And Manufacturing Services (CRAMS) Market and Its Key Components?

Converted paper product refers to a product that is used to make paper bags, coated and processed paper goods, and paperboard mostly from flexible film and other acquired paper materials for commercial and general purposes.

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