Dublin, Jan. 15, 2024 (GLOBE NEWSWIRE) -- The "Food Contact Paper and Board Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global food contact paper and board market has reached a significant milestone, and new insights predict an upward trajectory from 2023 through 2028, touching a value of US$ 79.6 Billion by the end of the forecast period. The latest industry trends underscore a compound annual growth rate (CAGR) of 5.43%, signaling a strong market expansion driven by the burgeoning food and beverage sector and a concerted shift towards sustainable packaging solutions.
Current industry analysis highlights the increasing reliance on food contact materials (FCMs) such as corrugated boards, folding cartons, paper bags, and cup stock boards. These products are instrumental in ensuring food safety through their protective features against contaminants while meeting consumer demand for convenience. Market growth is substantially supported by eco-conscious consumer preferences, which favor biodegradable and compostable packaging alternatives to traditional plastics and aluminum.
The escalating popularity of ready-to-eat meals and the proliferation of fast-food chains are contributing to the expansive use of food-grade contact papers and boards. These materials are essential for the safe distribution and transportation of a wide array of products, including bakery items, groceries, and dairy. Innovations and sustainability remain at the forefront of growth, propelled further by rapid urbanization and a surge in research and development initiatives.
Market Segmentation Insights
- The analysis covers different market segments, including poly-coated and non-poly coated types.
- An in-depth study is provided for diverse paper weights, from up to 30 GSM to above 50 GSM.
- Extensive range of product types examined, including the prevalent corrugated and folding cartons.
- Wide application spectrum discussed, focusing on markets like bakery products and non-liquid dairy products.
Further dissection of the market reveals the critical role played by various end-use sectors such as hotels, restaurants, and fast food joints. Evidently, food contact papers and boards are integral components in fostering operational efficiency and hygiene in these settings.
Regional Dynamics and Key Players
The report also sheds light on the regional nuances of the market, charting the course of the North American, European, and Asia Pacific markets, among others. Insightful breakdowns of countries like the United States, India, China, and the United Kingdom provide a granular analysis of the market.
In the competitive arena, front-runners like Ball Corporation, Georgia-Pacific LLC, and International Paper Company, amongst others, are shaping the landscape through strategic initiatives and innovations. These key market players are pivotal in nurturing the industry's momentum and responding to the diverse needs of consumers worldwide.
The food contact paper and board market embodies an essential aspect of the evolving food and beverage industry. With sustainability as a pivotal trend, market players and investors are equipped to make informed decisions propelled by the data and forecasts contained within this comprehensive market study.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $58 Billion |
| Forecasted Market Value (USD) by 2028 | $79.6 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
Companies Mentioned
- Anchor Packaging Inc.
- Ball Corporation
- Bischof + Klein SE & Co. KG
- Georgia-Pacific LLC
- Huhtamäki Oyj
- Huntsman Corporation
- International Paper Company
- Intertek Group
- Mondi Plc.
- Nippon Paper Group
- Sonoco Products
For more information about this report visit https://www.researchandmarkets.com/r/jtjrb9
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