Topping the list of concerns are cost pressures, supply chain efficiency, customer focus and improved long-term sustainability.

CEO Perspectives, which was compiled by PricewaterhouseCoopers, revealed key priorities were customer retention and defending market share.

All CEOs questioned said they were looking toward emerging markets, especially Asia-Pacific for demand, but preferences for the supply of low-cost fibre varied between South America and Russia.

However, executives recognised that they also had to achieve a better balance between developing emerging markets while offsetting costs in mature markets.

PwC’s UK forest, paper and packaging specialist Clives Suckling said: “Our main observation is the range of different concerns among CEOs. The profit squeeze on the industry means that executives are juggling their approaches to make supply chains better and towards emerging markets, sustainability and a stronger focus on the consumer.”