Dublin, Oct. 17, 2023 (GLOBE NEWSWIRE) -- The "Global Food Wrapping Paper Market Size, Share, Growth Analysis, By Product type, By End use - Industry Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Food Wrapping Paper Market, valued at USD 343.33 billion in 2021, is set to grow at a Compound Annual Growth Rate (CAGR) of 5.7% in the forecast period (2023-2030), reaching USD 562.3 billion by 2030, according to a recent report.
The surge in demand for hygienic and convenient packaging solutions for various food items is driving the food wrapping paper market. These papers, including kraft paper, wax-coated paper, foil paper, and biodegradable materials, are used to wrap fast food items such as chicken, pizza, sandwiches, and burgers. The market is also benefiting from the increasing digitization of foodservice operations, catering to customers' preferences and the presence of recycling infrastructure for plastics, metals, and glass.
However, concerns about waste resulting from improper packaging practices may hinder market growth. Additionally, the fluctuating prices of raw materials, particularly polypropylene and aluminum, pose a challenge to the growth of the food wrapping paper market.
Segments covered in this report
The Food Wrapping Paper Market is segmented based on Product type, end-use, and region. Product type segments include Plastic and Paper, while end-use segments encompass Hotels, Restaurants, Cafes, Fast Food Outlets, Cinema, Airlines & Railway Catering, Institutions, and Others. The regions covered are North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by product
In terms of product type, paper-based food wrapping material dominates the market. Greaseproof sheets, in particular, have seen a surge in demand, thanks to major fast-food chains adopting paper-based packaging.
Regional Insight
Asia Pacific leads the Food Wrapping Paper market, driven by the popularity of fast food restaurant chains and rising disposable incomes. North America and Europe also experience significant growth due to high demand for convenience foods. Latin America, the Middle East, and Africa are expected to show substantial growth due to the increasing popularity of fast food.
Market Dynamics
The global food wrapping paper market is driven by the demand for sustainable packaging solutions. Vendors are developing compostable wrapping paper and other eco-friendly products in response to concerns about the environmental impact of traditional materials. However, fluctuating raw material prices, such as kraft paper, pose a challenge.
Competitive Landscape
The global food wrapping paper market is highly competitive and fragmented. Major players focus on innovations, mergers, acquisitions, collaborations, partnerships, and R&D to maintain a competitive edge.
Market Trends
A significant trend in the industry is the adoption of reusable materials for food wrapping paper manufacturing. Reusable food wrapping paper, like beeswax wraps, offers sustainable and long-lasting packaging solutions, contributing to market growth.
Companies Mentioned
- 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
- BillerudKorsnas AB
- Sappi Limited
- Nippon Paper Industries Co. Ltd.
- Ahlstrom-Munksjo Oyj
- Mitsubishi Paper Mills Limited
- Michelman Inc.
- Glatfelter Corporation
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 265 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $362.9 Billion |
| Forecasted Market Value (USD) by 2030 | $562.3 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Market Overview
- Wheel of Fortune
Research Methodology
- Information Procurement
- Secondary & Primary Data Sources
- Market Size Estimation
- Market Assumptions & Limitations
Parent Market Analysis
- Market Overview
- Market Size
- Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Key Market Insights
- Technology Analysis
- Pricing Analysis
- Supply Chain Analysis
- Value Chain Analysis
- Ecosystem of the Market
- IP Analysis
- Trade Analysis
- Startup Analysis
- Raw Material Analysis
- Innovation Matrix
- Pipeline Product Analysis
- Macroeconomic Indicators
- Top Investment Analysis
- Key Success Factor
- Degree of Competition
Market Dynamics & Outlook
- Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
- Regulatory Landscape
- Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
- Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Global Food Wrapping Paper Market by Product type
- Market Overview
- Plastic and Paper
Global Food Wrapping Paper Market by End use
- Market Overview
- Hotels
- Restaurants
- Cafes
- Fast Food Outlets
- Cinema
- Airlines & Railway Catering
- Institutions and Others
Global Food Wrapping Paper Market Size by Region
Competitive Landscape
Key Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/qwa9ja
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