Growing Demand for Sustainable Packaging Drives the Food Wrapping Paper Market Growth
SkyQuest projects that the food wrapping paper market will attain a value of USD 562.3billion by 2030, with a CAGR of 5.7% over the forecast period (2023-2030). The increasing popularity of convenience foods is considered as a major factor driving the growth of the food wrapping paper market. These foods are easy to prepare and consumed without requiring the significant preparation time or effort. As this trend continues to grow, there is a rising demand for food wrapping paperwhich helps to maintain the freshness and visual appeal of convenience foods.
Westford, USA, June 20, 2023 (GLOBE NEWSWIRE) — According to SkyQuest,the increased demand for sustainable packaging and the reduction of plastic packaging usage are driving factors for the rising demand for food wrapping paper. As a result, reusable packaging is made from durable materials and is becoming increasingly popular. For instance, Beeswax wraps are a popular reusable food wrapping paper that is waterproof and can be washed and reusedcommonly used for wrapping burgers, sandwiches, cheese, bread, fruitsand vegetables. The growing popularity of reusable food wrapping paper is expected to be a significant trend in the market and positively impact its growth.
Browse in-depth TOC on “Food Wrapping Paper Market”
- Pages – 265
- Tables – 65
- Figures – 75
Food packaging wrapping paper is usually composed of materials such as paperwith raw materials such as kraft paper, greaseproof papers, wax-coated papers and foil papers used for less spilling, easy handling, and hygiene purpose. These papers come in various thicknesses, ranging from 8 microns to more than 20 microns, providing a range of options for different food packaging needs.
Prominent Players in Food Wrapping Paper Market
- Amcor plc
- Berry Global Inc.
- Mondi Group
- Huhtamaki Oyj
- Sealed Air Corporation
- Reynolds Group Holdings Ltd.
- Graphic Packaging International, LLC
- Smurfit Kappa Group plc
- WestRock Company
- International Paper Company
- DS Smith Plc
- Uflex Limited
- SCG Packaging Public Company Limited
- BillerudKorsnäs AB
- Sappi Limited
- Nippon Paper Industries Co. Ltd.
- Ahlstrom-Munksjö Oyj
- Mitsubishi Paper Mills Limited
- Michelman Inc.
- Glatfelter Corporation
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Hotel Segment is Dominating to Grow Due to the its High Consumer Preference
The hotel segment dominated the food wrapping paper market owing to its high consumer preference. In addition, the increasing demand for fast food and on-the-go products is driving the demand for food wrapping paper. Additionally, the market is expected to be propelled by the storage and preservation properties of the wrapping paper that help keep the food warm and fresh for longer. However, the growth ofmarket is expected to be limited due to the volatility of raw material prices such as polypropylene, aluminiumand others.
North America held a significant share of the global food wrapping paper market due to high demand from various end-use industries such as grocery stores, restaurants, and hotels. In addition, the region’s growth is attributed to the increasing consumer preference for convenience foods and strict regulations by regulatory bodies regarding protection from contaminants during transportation. These factors are expected to increase the usage of food wrapping paper in the region over the forecast period.
Paper Segment is Dominating the Market Due to the Increasing Demand for Eco-Friendly and Sustainable Packaging Solutions
The market for paper-based food wrapping materials dominates the industry. Greaseproof sheets have garnered significant attention and their demand has since risen steeply. Major fast-food chains have already started using paper-based packaging to sell their products. This shift towards paper-based food wrapping materials can be attributed to the increasing demand for eco-friendly and sustainable packaging solutions. Paper-based materials can be easily recycled and biodegradable, making them an ideal choice for environmentally conscious consumers. As a result, the demand for paper-based food wrapping materials is expected to grow significantly in the coming years.
Asia Pacific held the largest global food wrapping paper market revenue share. It is anticipated to maintain its dominant position throughout the forecast period due to the rising demand for packaged foods and increasing consumer awareness about food safety and hygiene standards. Furthermore, the increasing presence of e-commerce companies such as Flipkart, Amazon India, and Grofers in the region is expected to boost the market growth further.
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A comprehensive analysis of the major players in the Food Wrapping Paper market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Food Wrapping Paper Market
- Berry Global Inc. announced that they had optimized their recycling sortation process by incorporating robotic sorting and invisible watermarks in 2022. This initiative was launched in collaboration with the Alliance to End Plastic Waste and was aimed at transforming the way plastic packaging is recycled. The use of robotic sorting and invisible watermarks enables the sorting of different plastic packaging types and ensures proper recycling.
- Mitsubishi Chemical Corporation increased the production of SoarnoL, an ethyl vinyl alcohol (EVOH) copolymer by 3,000 tonsbringing the total production capacity to 41,000 tons in 2021. EVOH is widely used in food packaging and wrapping materials to prolong the quality and flavor of food.
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Key Questions Answered in Food Wrapping Paper Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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