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Food Contact Paper Market is anticipated to record a valuation of USD 97.8 billion by 2028 | The Insight Partners

Expanding Demand for Recyclable and Biodegradable Packaging to Escalate Food Contact Paper Market Growth During 2021–2028

NEW YORK, UNITED STATES, January 25, 2022 /EINPresswire.com/ -- According to our latest market study on “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),” the market was valued at US$ 68.6 billion in 2020 and is projected to reach US$ 97.8 billion by 2028; it is expected to grow at a CAGR of 4.7% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Report Coverage Details
Market Size Value in- US$ 68.6 billion in 2020
Market Size Value by- US$ 97.8 billion by 2028
Growth rate- CAGR of 4.7% from 2021 to 2028
Forecast Period- 2021-2028
Base Year- 2021
No. of Pages- 157
No. Tables- 38
No. of Charts & Figures- 56
Historical data available- Yes
Segments covered- Type and Application and Geography
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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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. Growing initiatives by companies to reduce their carbon footprint are influencing the adoption of food contact paper across the world. The increase in demand for sustainable and eco-friendly food packaging has also increased the demand for food paper packaging.

Impact of COVID-19 Pandemic on Food Contact Paper Market

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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Based on type, the food contact paper market is segmented into kraft paper, greaseproof paper, parchment paper, and others. The kraft paper segment held the largest market share in 2020. The natural kraft papers have pure virgin fibers, which makes it an ideal food contact packaging solution. The paper is increasingly used for manufacturing various food contact paper products, such as paper bags, paper sacks, wrapping paper, and paper plates. Natural kraft paper is also increasingly used to make grocery bags for fresh fruits and vegetables due to its high strength.

The global food contact paper market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South and Central America. 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.

Food Contact Paper Market: Competitive Landscape and Key Developments

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 in the global Food Contact Paper market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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The Insight Partners
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