Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Food Contact Paper Market Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
The global food contact paper market is set for steady growth over the forecast period, with a projected compound annual growth rate (CAGR) of 4.18%. As the world population continues to rise, surpassing 8 billion, and the online food delivery systems and bakery industries expand, the demand for food contact paper is expected to accelerate notably.
Increasing Efficacy of Food Contact Paper Driving Market Expansion
Food contact paper has become integral in various applications including packaging for bakery goods, dairy products, meats, fruits, and vegetables, and for takeaway food. The material offers enhanced protection against external elements and contamination, effectively extending the shelf-life of products. This, coupled with growing consumer awareness regarding hygiene, is providing a significant thrust to the market.
Growth Drivers
- Global Population Growth: As consumption needs intensify with the expanding population, the utilization of food contact paper is anticipated to surge, further propelled by the increased spending power in developing nations.
- Online Food Delivery Trends: The online food delivery sector, which widely relies on food contact paper for the safe packaging of goods, has observed a sharp rise in use, particularly following the pandemic, with services such as Zomato and Toast Delivery revealing a strong uptick in customer engagement.
- Bakery Industry Expansion: The sector continues to showcase strong growth, with glassine paper, a type of food contact paper, becoming the preferred choice for lining baked goods, significantly contributing to market growth.
Sustainable Packaging in Focus Amid Tightening Regulations
Steps taken by governing bodies around the world, including the European Directorate for the Quality of Medicines & Healthcare (EDQM) and Indian government regulations, to enforce sustainable packaging, are anticipated to positively influence market dynamics, promoting the use of eco-friendly packaging solutions like food contact paper.
Regional Insights and Key Market Innovations
North America is projected to be a dominant player in the food contact paper market during the forecast period, with increased demand attributed to the rising urban population and the adoption of packaged food. Innovations such as SKPMIL's high gloss, low GSM food packaging paper, and Zanders' Zanbarrier NGR, stand as testament to the industry’s progress towards sustainability and efficiency.
The market is categorized based on type, application, and geography, with each segment experiencing varying degrees of growth influenced by industry trends and consumer preferences.
For companies operating within this space, stakeholders, and investors looking to gain a competitive edge, this latest report offers valuable insights into market dynamics, driving forces, and challenges shaping the food contact paper industry.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 135 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value (USD) in 2021 | $85.77 Million |
| Forecasted Market Value (USD) by 2028 | $114.24 Million |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | Global |
Report Segmentation:
By Type
- Kraft Paper
- Greaseproof Paper
- Parchment Paper
- Others
By Application
- Bakery & Confectionary
- Dairy Products
- Fruits & Vegetables
- Poultry
- Others
Companies Profiled
- Mondi
- Westrock Company
- Georgia-Pacific
- Twin River Paper Company
- UPM
- Ahlstrom-Munksjo
- GM Packaging
- Superior Paper
- TopCare
- KRPA Holding
For more information about this report visit https://www.researchandmarkets.com/r/f3rzwk
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