South Korea Paper Products Market Insights Forecasts to 2033
- The South Korea Paper Products Market Size was valued at USD 13.2 Billion in 2023.
- The Market Size is Growing at a CAGR of 5.1% from 2023 to 2033.
- The South Korea Paper Products Market Size is Expected to Reach USD 21.7 Billion by 2033.
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The South Korea Paper Products Market Size is Expected to Reach USD 21.7 Billion by 2033, at a CAGR of 5.1% during the forecast period 2023 to 2033.
Paper products are those made from interwoven cellulosic fibers that are held together primarily by hydrogen bonding. Paper is a thin sheet of material made mechanically or chemically from cellulose fibers by draining the water through fine mesh and leaving the fiber evenly distributed on the surface, then pressing and drying. Newsprint, office, printing, fine, and pressure-sensitive papers; paper napkins, towels, and toilet tissue; kraft bag, construction, and other kraft industrial papers; paperboard, liquid packaging containers, containerboard, corrugated, and solid-fiber containers, including linerboard and corrugated medium; and related types of cellulosic products containing primarily, by weight or volume, cellulosic materials.
This research report categorizes the market for South Korea paper products market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea paper products market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the South Korea paper products market.
South Korea Paper Products Market Report Coverage
|Market Size in 2023:
|USD 13.2 Billion
|2023 - 2033
|Forecast Period 2023 - 2033 CAGR:
|2033 Value Projection:
|USD 21.7 Billion
|Historical Data for:
|2019 - 2022
|No. of Pages:
|Tables, Charts & Figures:
|By Type, By Coating, By End-User, and COVID-19 Impact Analysis.
|Asia Paper Manufacturing. Co., Ltd, Hansol Paper Co., Ltd, Korea Export Packaging Ind.Co., Ltd, Moorim Paper CO., LTD, Sambo Corrugated-Board Co., Ltd, Paper Corea Inc, Dongwon Systems, Youlchon ChemicalLtd, Daeyang Paper Industry Co., Ltd, ACE Pack, and Others
|Pitfalls & Challenges:
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The South Korea paper products market will be driven by increased government initiatives. To ensure superior recycling capabilities, the Ministry has established guidelines for both paper hot cups and plastic cold cups. More than 80% of disposable cups sold in South Korea will be subject to the new policy. Governments may enact regulations to reduce the use of single-use plastics and encourage the use of environmentally friendly alternatives. This can help the paper products industry because paper is often thought to be a more sustainable option. By the expansion of delivery services, paper products and other disposable food packaging are in high demand. According to the International Trade Administration (ITA), food delivery services were the most popular services, accounting more than 13.3% of all e-commerce transactions. Food delivery service online sales increased by more than 48.2% over the forecast period, while food and beverage sales increased by more than 26.3%. The high volume of food and drink in e-commerce transactions may increase the country's demand for paper packaging.
One of the most significant problems with paper packaging is the risk of deforestation and habitat destruction which hamper South Korea paper products market growth during the forecast period. If paper demand is not managed sustainably, it can have a negative impact on biodiversity, local communities, and forest health overall. Unsustainable logging practices can deplete forest resources and reduce biodiversity. Paper packaging may have a shorter shelf life in some cases than materials with better barrier properties. This may have an effect on the suitability of products with longer shelf lives. Paper packaging may not be as strong and durable as materials such as plastics or metals. This may limit market growth over the forecast period.
- In 2023, the paper packaging segment accounted for the largest revenue share over the forecast period.
Based on the type, the South Korea paper products market is segmented into paper cups, paper packaging, paper straws, and others. Among these, the paper packaging segment has the largest revenue share over the forecast period. People in the country are choosing easily accessible and environmentally friendly packaging solutions due to their hectic lifestyles and growing awareness of the impact packaging materials have on the environment. As a result, it is expected that the demand for paper packaging supplies will increase. Due to the country's excessive use of these materials, the South Korean government banned all single-use plastics.
- In 2022, the PLA-coated segment accounted for the largest revenue share over the forecast period.
Based on the coating, the South Korea paper products market is segmented into PE coated, PLA-coated, water base barrier coating, and others. Among these, the PLA-coated segment has the largest revenue share over the forecast period. ASTM D6400 and EN13432 Bio-standards are met by PLA-coated paper. It can decompose into carbon dioxide and water in a composting environment. It is non-toxic to both the environment and the human body. Disposable paper containers made of PLA-coated paper are safe to use in food service, according to FDA and EU food contact regulations. Plastic or polyethylene (PE) was commonly used to line or coat paper goods, particularly cups. Plastic is harmful to the environment and will never biodegrade. PLA performs the same function as PE but without the negative environmental effects. It has the potential to significantly reduce the amount of plastic film used in paper packaging.
- In 2022, the quick service restaurants segment accounted for the largest revenue share over the forecast period.
Based on the end-user, the South Korea paper products market is segmented into quick service restaurants, offices and educational institutions, residential, courier companies, food delivery companies, and others. Among these, the quick service restaurants segment has the largest revenue share over the forecast period. The paper products market in South Korean quick service restaurants is thriving, driven by rising demand for quick and easy food options. With a greater emphasis on environmentally friendly and sustainable practices, the market is seeing an increase in demand for biodegradable and compostable paper products.
The report offers the appropriate analysis of the key organizations/companies involved within the South Korea paper products market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Asia Paper Manufacturing. Co., Ltd
- Hansol Paper Co., Ltd
- Korea Export Packaging Ind.Co., Ltd
- Moorim Paper CO., LTD
- Sambo Corrugated-Board Co., Ltd
- Paper Corea Inc
- Dongwon Systems
- Youlchon ChemicalLtd
- Daeyang Paper Industry Co., Ltd
- ACE Pack
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In September 2023, Hansol expanded its offering of direct thermal face stock with the addition of products with phenol- and bisphenol S (BPS)-free developers. From face stock to release liner, the company designs and manufactures all-around label products and services.
- In January 2022, Hansol EB (Eco Barrier), a flexible packaging substitute for aluminum foil and plastic film, was developed by Hansol Paper, a well-known Korean paper manufacturer. Hansol EB creates a barrier layer on prepared base paper using Hansol Paper's proprietary coating technology.
This study forecasts country revenue from 2022 to 2033. Spherical Insights has segmented the South Korea paper products market based on the below-mentioned segments:
South Korea Paper Products Market, By Type
- Paper Cups
- Paper Packaging
- Paper Straws
South Korea Paper Products Market, By Coating
- PE Coated
- Water base barrier coating
South Korea Paper Products Market, By End-User
- Quick Service Restaurants
- Offices & Educational Institutions
- Courier Companies
- Food Delivery Companies
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