How to render content with  in twig to create paragraph
1) It's bad security practice to use |raw. See How do I get the raw field value in a twig template? for proper/safe way to do it. 

2) I am confident that  {{ content.field_name }} or {{ entity.field_name.value }} is printing  your &lt;p&gt; tags. If you right click and inspect element, you should see them in the HTML. Your issue must be CSS related perhaps the p { ... } CSS code have an inline or a float in them.