Food Contact Paper Market to Reach US$ 97.8 billion, Globally, by 2027 at 4.7% CAGR: The Insight Partners

According to the new market research report "Food Contact Paper Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Kraft Paper, Greaseproof Paper, Parchment Paper, and Others) and Application (Bakery and Confectionery; Dairy Products; Fruits and Vegetables; Meat, Fish, and Poultry; and Others) and Geography", published by theinsightpartners, the market is estimated grow from US$ 68.6 billion in 2020 and is projected to reach US$ 97.8 billion by 2028, at a CAGR of 4.7% during the forecast period. Food contact papers are used as primary packaging materials for various food products, such as baked food, confectionery, meat, snacks, and grain mill products. The papers are sustainable alternatives to many other food packaging materials, such as plastic and glass.

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In 2020, Asia Pacific dominated the global food contact paper market and is expected to continue its dominance during the forecast period. The growing foodservice industry in Asian countries, rising awareness about the environment, increasing government initiatives to ban plastic packaging in several Asian countries are expected to accelerate the demand for eco-friendly and sustainable packaging solutions, which would drive the growth of the food contact paper market in Asia Pacific.

Many industries, such as the chemicals & materials industry, faced unprecedented challenges due to the COVID-19 pandemic. Due to the shortage of raw material and labor, shutdown of factories, and other operational difficulties under COVID-19 safety protocols, manufacturers of packaging products faced a contraction in sales during the initial months of the pandemic. Furthermore, the shift in the lifestyle of the consumers and their changing eating patterns have reduced the consumption of ready-to-use and outside food due to the virus spread, which has negatively affected the demand for food contact papers. However, as several countries are lifting the lockdown with proper precautionary measures, the demand for food contact papers is likely to back on track. As the lockdown was imposed in various countries, the e-commerce sector witnessed a significant demand for various products, such as packaged food and groceries including fresh vegetables and fruits, owing to the shutdown of offline stores, which fueled the utilization of food contact papers.

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A few well-established players operating in the global Food Contact Paper market are Mondi; Westrock Company; Georgia-Pacific LLC; Twin River Paper Company; UPM; Ahlstrom-Munksjö; GM Packaging (UK) Ltd; Superiorpaper Pty Ltd. TopCare; and KRPA Holding CZ, a.s. are among the key players operating in the food contact paper market. Major market players are adopting strategies such as mergers & acquisitions and product launches to expand their geographic presence and consumer base.

GLOBAL FOOD CONTACT PAPER MARKET SEGMENTATION

Food Contact Paper Market, by Type
• Kraft Paper
• Greaseproof Paper
• Parchment Paper
• Others

Food Contact Paper Market, by Application
• Bakery and Confectionery
• Dairy Products
• Fruits and Vegetables
• Meat, Fish, and Poultry
• Others

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Report Spotlights:

• Progressive trends in the food contact paper industry to help players develop effective long-term strategies
• Business growth strategies adopted by companies to secure growth in developed and developing markets
• Quantitative analysis of the global food contact paper market from 2019 to 2028
• Estimation of the demand for food contact paper across various industries
• Porter analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
• Recent developments to understand the competitive market scenario and the demand for food contact paper
• Market trends and outlook coupled with factors driving and restraining the growth of the food contact paper market
• Understanding regarding the strategies that underpin commercial interest with regard to global food contact paper market growth, aiding in the decision-making process
• Float glass market size at various nodes of market
• Detailed overview and segmentation of the global food contact paper market as well as its industry dynamics
• Food Contact Paper market size in various regions with promising growth opportunities

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About The Insight Partners

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This release was published on openPR.