Increasing Demand for MFC in Food Industry to Augment Opportunities for Global Specialty Paper Market
MarketResearchReports.biz has recently announced the addition of a new report, titled “Global Specialty Paper Market 2017-2021” to its offering. With the growing awareness about environmental hazards caused by deforestation, numerous market vendors have been opting for recycled paper and biomaterials. By the end of 2021, the global market for specialty paper is expected to grow at a steady CAGR of 4%.
One of the key growth drivers of the global specialty paper market is the popularity of paper-based packaging in the food service sector. As there is an increased inclination towards the use of sustainable materials in the food industry, specialty papers are being increasingly utilized in food packaging. The number of quick service restaurants and the acceptance of take-away meals have been on the rise through the past few years, contributing towards market expansion. However, the market for specialty paper will face restraints due to deforestation, increasing carbon emissions, and the rise of electronic media that might eliminate the need for specialty paper in communication.
A rise in the usage of micro-fibrillated cellulose (MFC) in the paper-based packaging industry is projected to be one of the major trends, as MFC is a strong, stiff, and lightweight material, ideal for food packaging. Moreover, government policies prevalent in the European countries about weight reduction of packages, their biodegradability, and barrier properties eliminating entrance of gaseous components in the package, are also projected to augment the demand for MFC, benefitting the global specialty paper market.
The key application segments of the global specialty paper market are packaging and labeling, foodservice, printing and writing, building and construction, and industrial use. The packaging and labeling segment held the largest amount of shares in 2016, emerging as the leading application segment. Pressure-sensitive labels have been fuelling the growth of this segment, because specialty paper is required as the face stock in pressure-sensitive labels. This segment is expected to retain its dominating position over the forecast period.
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On the basis of geography, EMEA, APAC and the Americas are the key regional segments. Although the EMEA exhibits a major amount of demand for specialty papers, it is the APAC that will grow to a substantial extent on account of the towering demand for glassine, greaseproof paper, and kraft line paper in the region. The rapid expansion of the real estate industry in APAC will raise the demand for masking tapes that are required in construction activities, thereby boosting market growth.
The global specialty paper market appears to be fragmented in terms of competition on account of numerous market players. Some of the key players operating in the global market for specialty paper discussed in the report are Mondi, Domtar, Stora Enso, Fedrigoni, Griff Paper and Film, International Paper, Sappi, Robert Wilson Paper, Glatfelter, Nippon Paper Group, Verso Specialty Papers, Voith, and Kanzaki Specialty Papers. These companies have been prioritizing recyclability and sustainability.
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