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Sustainable Solutions Unveiled: Food Contact Paper Market Explores Market Size, Emerging Trends, and Strategies Seize the Eco-Friendly Opportunities Now!
Food Contact Paper Global Market Report 2024
The Business Research Company offers in-depth market insights through Food Contact Paper Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The food contact paper market size has grown steadily in recent years. It will grow from $71.55 billion in 2023 to $74.44 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The growth in the historic period can be attributed to consumer safety concerns, market expansion in food packaging, innovation in barrier coatings, sustainability initiatives, consumer preferences for convenience.
The food contact paper market size is expected to see steady growth in the next few years. It will grow to $88.64 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to digitalization in packaging, global food packaging growth, shift to bio-based materials, sustainable packaging demands. Major trends in the forecast period include antimicrobial properties, single-use packaging solutions, transparency and labeling, biodegradable and compostable materials, customized and brand-specific packaging.
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Market Segmentation:
The food contact paper market covered in this report is segmented -
1) By Type: Poly Coated, Non-Poly Coated
2) By Material: Kraft Paper, Specialty Paper, Recycled Paper, Other Materials
3) By Application: Bakery And Confectionery, Fresh Food, Dairy Products, Fast Food, Baby Food, Other Applications
Major Driver - Burgeoning Bakery Demand Sparks Growth In Food Contact Paper Market For Freshness And Quality Maintenance
Rising demand for bakery products is expected to propel the growth of the food contact paper market in the coming future. Bakery products refer to a wide range of food items that are baked in an oven, such as bread, cakes, pastries, cookies, muffins, croissants, and bagels. The bakery industry is one of the major users of food contact paper, as bakery products like bread, cakes, pastries, and cookies require proper packaging to maintain their freshness and quality. For instance, in January 2023, according to the report published by Agriculture and Agri-Food Canada, a department of the Government of Canada, the value of bread and bakery food products imported by Mexico from around the world in 2021 amounted to $198.5 million, with an accompanying import volume of 72.1 thousand metric tons. The primary suppliers to Mexico were the United States, accounting for 79.2% of the market share ($157.2 million), followed by Canada at 4.7% ($9.4 million). Notably, Canada emerged as the second-largest import market for Mexico, with a significant growth rate of 25.0% between 2017 and 2021. Therefore, the rising demand for bakery products is driving the food contact paper market.
Competitive Landscape:
Major companies operating in the food contact paper market report are Mondi plc, Westrock Company, Pudumjee Paper Products Ltd., Asian Pulp & Paper Company, Ahlstrom- Munksjo Oyj, Georgia-Pacific LLC, Twin River Paper Company, UPM-Kymmene Corporation, Schweitzer-Mauduit International Inc., SCG Packaging Public Company Limited, PT. Indah Kiat Pulp & Paper Tbk, Business Process Management, Seaman Paper Company, Maesindo Indonesia, PT Parisindo Pratama, Harwal Group of Companies, Huhtamaki Oyj, International Paper Company, Smurfit Kappa Group, Stora Enso Oyj, Sappi Limited, Metsä Board Corporation, Nippon Paper Industries Co. Ltd., Oji Holdings Corporation, Daio Paper Corporation, Rengo Co. Ltd., Shandong Chenming Paper Holdings Limited, Fujian Liansheng Paper Industry Co. Ltd., Guangdong Guanhao High-Tech Co. Ltd., Lee & Man Paper Manufacturing Limited, Nine Dragons Paper (Holdings) Limited, Shanying International Holdings Co. Ltd., Shenzhen Jinjia Group Co. Ltd., GM Packaging Ltd, Superiorpaper Pty Ltd, KRPA Holding CZ a.s., SK Hynix Inc., Nordic Paper
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Top Trend - Novolex Unveils Cutting-Edge Sustainable Packaging For Fresh Food Innovations
Sustainable and innovative packaging is a key trend gaining popularity in the consumer and food contact paper markets. Major companies operating in the food contact paper market are focused on developing sustainable and innovative packaging solutions for fresh food products to strengthen their position in the market. For instance, in April 2023, Novolex, a US-based manufacturer of packaging products, launched Power Prep, a new line of laminated insulated packaging for fresh food. Novolex's Power Prep uses non-fluorinated oil-and-grease-resistant paper that is laminated with a honeycomb pattern to create an insulated layer. The packaging is also more puncture-resistant than traditional foil or foil/paper structures and features anti-curling capabilities to allow for flat sheeting when assembling food products at scale.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Food Contact Paper Market Characteristics
3. Food Contact Paper Market Trends And Strategies
4. Food Contact Paper Market - Macro Economic Scenario
5. Food Contact Paper Market Size And Growth
…..
27. Food Contact Paper Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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