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Food Contact Paper Market to See High Growth in Upcoming Year by 2029
Food Contact Paper Market
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Segments
By product, the market is segmented into kraft paper, specialty paper, recycled paper, and others. On the basis of application, the market is segregated into bakery & confectionery, fresh food, dairy products, fast food, baby food, and others. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What does the Report Offer?
The reports include detailed information on developing trends, market drivers, development opportunities, and market restraints that may affect the industry's market dynamics. It consists of a product, application, and competition analysis and an in-depth examination of the market segments for food contact paper.
Drivers & Restraints
Increasing Demand for Light-Weight Material to Stimulate Growth
The global food contact paper market growth is expected to grow due to the increased demand for lightweight material features during the projected period. One of the most important industry trends is the demand for lightweight materials for packaging food and beverages. To cut costs, boost performance, and stay competitive, suppliers introduce lightweight and elevated paper grades. Lightweight packaging materials have minimal material used throughout the production process and high shipping efficiency, lowering expenses.
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REGIONAL INSIGHTS
Increasing Number of Restaurants to Promote Growth in North America
North America is expected to hold the largest global food contact paper market share during the forecast period. It is used by a large number of affordable fast-food restaurants, bakeries, and cafes in the region. The public's demand for environmentally friendly things has pushed businesses to reduce their carbon footprint and use more eco-friendly materials.
Asia Pacific is expected to have a sizable share of the market. The high demand for fast food, increased public awareness of environmental safety and conservation, legislative rules and laws that favor bio-degradable packing materials, and an increasing number of food contact paper vendors in the region, is expected to drive the market growth.
Competitive Landscape
Companies provide significant customized solutions in order to improve market share and income. In order to effectively meet government criteria, they attempt to replace old materials with sustainable ones. To lower production costs, a significant number of enterprises are linked across the supply chain.
Industry Development
June 2019: Asian Pulp & Paper Group Extended collaboration with 3 major companies: Papelera Kino, Krishka, and Promasa, to deliver premium and sustainable paper for food packaging in Mexico.
List of Key Players Profiled in the Global Market for Food Contact Paper:
Mondi Plc
Westrock Company
Pudumjee Paper Products
Asia Pulp & Paper Group
Ahlstrom- Munksjo Oyj
BPM Inc
KRPA Holding CZ
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