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Technavio analysts forecast the paper manufacturing market in Bulgaria to grow at a CAGR of more than 12% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the paper manufacturing market in Bulgaria for 2016-2020. To calculate the market size, the report considers the value of paper manufactured in the country. The report also presents the manufacturer landscape and a corresponding database of the key manufacturers involved in the production of paper.

Technavio chemicals and materials analysts highlight the following three factors that are contributing to the growth of the paper manufacturing market in Bulgaria:

    Investment destination for paper manufacturing industry
    Increased demand for paper and paper products
    Intense competition among manufacturers of tissue paper and hygiene products

Investment destination for paper manufacturing industry

Bulgaria is a major exporter of paper and paper products in Eastern Europe. In terms of revenue, the paper industry registered a strong growth of 23.9% in 2010, which increased to 68.4% in 2013. The paper manufacturing industry in Bulgaria is dominated by foreign players because of favorable government policies, availability of cheap labor, and its strategic location near markets in the EU.

“Bulgaria’s accession to the EU in 2007 provided it with a significant cost advantage because of the fixed exchange rate of the Bulgarian Lev. This made Bulgaria a very attractive destination for investors in the paper manufacturing market,” says Chandrakumar Badala Jaganathan, a lead analyst at Technavio for textile, fiber, and composites research.

Increased demand for paper and paper products

The demand for paper and paper products has increased significantly over the past few years. Paperboard is a key product that can be folded, is lightweight and strong, and resistant to lasers used in high-speed automated filling. High-quality printing on paperboard packaging can enhance the aesthetic appeal of packaged goods and their sales, and this has led to retailers opting for this type of packaging. The popularity of paperboard packaging is also on the rise due to 30% of companies focusing on redesigning their existing packaging to make it more attractive. Paper and paperboards are also versatile in terms of the variety of products that can be packaged using these materials. “The demand for paperboard containers has led to demand for corrugated paper, which is used to wrap these containers to enhance the safety of packaged products. Such an increased demand for paper and paper products have enhanced the potential for growth,” adds Chandrakumar.

Intense competition among manufacturers of tissue paper and hygiene products

In 2015, nearly 50%-60% of the demand for tissue paper in Bulgaria was catered to by the top four players in the industry. These included Belopaper, Ficosota Syntez, Interpred Partner, and Procter & Gamble (P&G). However, competition among the top players has intensified, especially in sub-categories such as toilet paper, sanitary pads, and baby wipes because of aggressive advertising and distribution strategies. This has also led to the diversification of products by the players, resulting in the availability of a wide variety of choices, which has contributed to the growth of the market.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

Technavio’s latest report on the paper manufacturing market in Serbia provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

 Paper manufacturing market in Serbia at a glance

The paper manufacturing market in Serbia has been growing at a modest rate since 2010. Strong demand from the domestic market for consumer products, such as paper-based household and sanitary products, has contributed to the growth of manufacturers. Consumer spending on these products has remained stable despite the negative impact of the global economic recession of 2008, and the country’s negative GDP growth between January 2014 and July 2015. Demand from non-household end-users, such as the catering industry and retailers of consumer products, is also expected to increase during the forecast period.

The top three emerging trends driving the paper manufacturing market in Serbia according to Technavio chemicals and materials research analysts are:

    Growing focus on niche product segments
    Increase in demand and production of recycled paper
    Rise in consolidation

Growing focus on niche product segments

Large and medium-sized manufacturers are focusing on niche consumer product segments to enhance revenues. The demand for impregnated wet wipes and tablecloths, in particular, grew at a CAGR of over 10% during 2013-2015. Though these products account for a small share of the overall paper manufacturing market in Serbia, increasing demand for such products is expected to have a significant impact on the market during the forecast period. “These product segments are relatively under-penetrated compared to other consumer product segments, such as paper-based tissues and sanitary products, and, hence, are likely to provide manufacturers with growth opportunities,” says Chandrakumar Badala Jaganathan, one of the lead analysts at Technavio for research on textile, fiber, and composites.

Increase in demand and production of recycled paper

Recycled paper is derived from fibers recovered from scrap paper. The consumption of recycled paper in Serbia increased tremendously during 2009-2015. In 2009, the consumption of recycled paper in Serbia amounted to approximately 12,000 tons, and this increased further at a CAGR of over 77% during 2009-2015. Production and imports of recycled paper also grew at CAGRs of over 25% and over 10%, respectively, during the same period. The demand for products belonging to this segment is expected to contribute to the growth of manufacturers offering these products, apart from attracting new entrants.

Rise in consolidation

The paper manufacturing market in Serbia is witnessing increasing consolidation, especially in segments such as paper packaging. For instance, in 2014, Mondi, an international packaging and paper group, acquired Intercell, a Serbian manufacturer of industrial paper bags. Currently, Mondi holds a market share of 30%-40% of the paper manufacturing market in Serbia. “The entry of foreign manufacturers is likely to increase during the forecast period because of the market’s growth potential, which in turn is expected to lead to a rise in consolidation,” adds Chandrakumar.

Competitive scenario

The paper manufacturing market in Serbia is characterized by the presence of over 600 manufacturers, of which, 82.1% are micro-sized and 14.8% are small-sized manufacturers. Competition is largely between the medium and large-sized manufacturers.

The paper manufacturing market in Serbia is characterized by the presence of diverse international and regional manufacturers. However, as international players have established their footprint in the market, regional manufacturers are finding it increasingly difficult to compete with them, especially on aspects such as quality, technology, and pricing. International players are expected to grow inorganically by acquiring regional and local players. In addition, there is an influx of private labels in the market.
 
About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

Technavio analysts forecast the paper manufacturing market in Romania to register a slow growth, posting a CAGR of close to 2% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the paper manufacturing market in Romania for 2016-2020. To calculate the size of the paper manufacturing market in Romania, the report considers volumes generated in the 12 trailing months and the revenue generated from the manufacture of paper and paper products by manufacturers in Romania.

Technavio chemicals and materials analysts highlight the following four factors that are contributing to the growth of the paper manufacturing market in Romania:

• Increased popularity of paperboard packaging
• Recyclable and cost-effective nature
• Increased demand from organized retail sector
• Growth of processed food industry

Increased popularity of paperboard packaging

Paperboards can be folded, are lightweight and strong, and are resistant to lasers used in high-speed automated filling. High-quality printing on paperboard packaging can enhance the aesthetic appeal of packaged goods and their sales, and this has led to retailers opting for this type of packaging. The popularity of paperboard packaging is also on the rise due to 30% of companies focusing on redesigning their existing packaging to make it more attractive, and it is easy and convenient to come up with eye-catching designs and shapes using paperboards. Paper and paperboards are also versatile in terms of the variety of products that can be packaged using these materials.

According to Chandrakumar Badala Jaganathan, a lead analyst at Technavio for research on textile, fiber, and composites, “The demand for paperboard containers has led to demand for corrugated paper, which is used to wrap these containers to enhance the safety of packaged products. Manufacturers in the market are focusing on enhancing their portfolio of paperboard packaging products to capture growth opportunities.”

Recyclable and cost-effective nature

The concept of recycling is gaining popularity due to environmental awareness. Consumers prefer paperboard packaging as it can be recycled easily and is biodegradable. “The manufacture of paper requires less electricity compared to plastic. This leads to energy efficiency and savings. Also, the cost-effective nature of paperboard is fueling the demand for paperboard packaging, as it costs 30% - 35% less than plastic,” adds Chandrakumar.

Increased demand from organized retail sector

Organized retailing refers to the retailing of different categories of products, including ready-to-cook food products, under one roof. Consumers purchase groceries, including frozen and chilled food products, from these stores. These items are generally packed in paper or paperboard containers. This has led to increased demand for these containers, as they are safe, durable, and eco-friendly. With the growth of the organized retail sector and an increase in consumer demand for frozen and chilled food products, the demand for paperboard packaging is also expected to increase during the forecast period. Hence, manufacturers in the market are focusing on channel strategies that involve the organized retail sector to capture a greater market share.

Growth of processed food industry

Demand for processed food, convenience food, and fast food is on the rise. The packaging needs to be safe, durable, and eco-friendly, as it can enhance the shelf life of these products. The packaging also needs to be lightweight, flexible, and convenient to carry and use. This has led to the development of innovative paperboard packaging solutions being developed by manufacturers of packaging products.

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• About Technavio

  Technaviois a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

  Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

Technavio has announced the key manufacturers in their recent paper manufacturing market in Turkey report until 2020. The report also presents the manufacturer landscape and a corresponding database of the key manufacturers involved in the production of paper. In addition, the report discusses the major drivers influencing market growth, and the challenges faced by manufacturers and the market as a whole. It also examines key emerging trends, and their influence on current and future market scenarios.

Competitive vendor landscape

The paper manufacturing market in Turkey is characterized by the presence of diverse international and regional manufacturers. However, as international players have already established their footprint in the market, regional manufacturers are finding it increasingly difficult to compete with them, especially on aspects such as quality, technology, and pricing. The competitive environment in this market will likely intensify further with an increase in product and service extensions, technological innovations, and mergers and acquisitions. International players are expected to grow inorganically by acquiring regional and local players.

Chandrakumar Badala Jaganathan, a lead analyst at Technavio for research on textile, fiber, and composites, says, “Manufacturers in the market compete based on parameters such as pricing, quality, innovation, flexibility, and speed of delivery. The focus is shifting from low cost production to innovation-based production. Apart from developing new technologies, manufacturers also have to keep abreast of emerging technologies that can have a bearing on their product lines.”

The report also states that manufacturers in the market face intense competition from products manufactured in China. This is true particularly in the case of segments such as paper stationery. However, a considerable amount of government supports in the form of incentives, such as tax exemptions for small and medium-sized manufacturers operating in this segment, and the implementation of schemes encouraging education (leading to increased consumption of paper stationery by educational institutions) will present growth opportunities for manufacturers.

Request for sample report: http://goo.gl/6a1oO8

Some of the key manufacturers in paper manufacturing market in Turkey are:

Company

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.