Waste Paper Recycling Market Size, Share, Growth Analysis, By Type(Corrugated Cardboard, Newspapers, White Office Paper, Magazines), By Application(Wrapping Paper, Printing and Writing Paper, Others), By Source(Residential, Commercial, Industrial, Others), By Region - Industry Forecast 2024-2031

Global Waste Paper Recycling Market size was valued at USD 42.97 billion in 2022 and is poised to grow from USD 44.82 billion in 2023 to USD 62.77 billion by 2031, at a CAGR of 4.3% during the forecast period (2024-2031).

Key market players are focusing on growing their customer base in order to gain a competitive advantage. As a result, key players are adopting variety of strategic initiatives, such as mergers & acquisitions and partnerships. To increase penetration across profitable areas, major players in global waste paper recycling market are maintaining successful relationships with various companies. For example, in September 2022, Huhtamaki and Stora Enso joined forces to launch Cup Collective, a new paper cup recycling initiative. In Europe, the program aims to recycle and capture used paper cups on an industrial scale. Initially, the program will be implemented in the Benelux. With the aim of setting new standards for paper cup collection and recycling in Europe, The Cup Collective has issued an open invitation to partners throughout the supply chain to participate in working towards a systematic European solution. 'International Paper Company', 'Georgia-Pacific LLC', 'Waste Management Inc.', 'DS Smith PLC', 'Pratt Industries, Inc.', 'Cascades Inc.', 'Mondi Group', 'UPM-Kymmene Oyj', 'Nine Dragons Paper Holdings Limited', 'Smurfit Kappa Group plc', 'Stora Enso Oyj', 'Nippon Paper Industries Co., Ltd.', 'Lee & Man Paper Manufacturing Ltd.', 'WestRock Company', 'Huhtamaki Oyj', 'Sappi Limited', 'Svenska Cellulosa Aktiebolaget (SCA)', 'Kimberly-Clark Corporation', 'Sonoco Products Company', 'Oji Holdings Corporation'

Favourable Environmental Impact of Paper Recycling

The development of advanced technologies for sorting and processing waste paper, which has improved the efficiency and quality of recycled paper production is the ongoing trend. Additionally, there is a growing trend towards circular economy models, where waste paper is seen as a valuable resource that can be reused and recycled into new products, rather than being discarded as waste.

On the basis of region, global waste paper recycling market is divided into North America, Europe, Asia Pacific, Latin America, and MEA. The Asia Pacific accounted for the largest market share in 2022. Increasing urbanization and more developments in developing countries like India and China have increased demand for products like newspapers, packaging, and printing papers to reach a higher literacy rate. Government regulations on the use of less plastic and low production costs, as well as changing consumer preferences for appropriate and viable packaging, are all factors for driving market growth in this region. China is the largest importer of waste paper in the world, so there are many opportunities in the waste paper recycling industry in developing nations like China, India, and Japan.