By 2021, the parchment paper market, according to Future Market Insights (FMI), is expected to exceed US$ 959 million. The total worth is anticipated to increase at a CAGR of 5.8% from 2021 to 2031, reaching US$ 1.6 billion.
The top 5 suppliers—Georgia-Pacific Corp., Ahlstrom-Munksjo Oyj, METSA Tissue, Delfort Group AG, and Nordic Paper AS—will account for almost 15% of the market in 2021 as the demand for parchment paper increases.
Parchment paper usage has caused a significant reduction in sales for clamshell boxes through the food industry. To decrease the global carbon footprint and its impact, key players have started adopting greener ways for working towards environment compliance.
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Parchment paper consumption has risen in the last decade through rising application in bakeries, restaurants, packed food, food deliveries, and take-away. Moreover, stringent environment rules are being applied across many countries to reduce dependency on non-biodegradable materials, combining all these, sales of parchment paper are anticipated to witness significant surge during the forecast period.
FMI forecast has that the future demand and sales of parchment paper will be definite and will continue increasing. Factors such as increase in middle class family income, environmental regulations, convenience factor, coupled with advancements in recycling processes will exponentially increase the parchment paper sales globally.
Key Takeaways from Parchment Paper Market
- By product type, unbleached paper segment is ahead and leading the market. With its sustainability and recyclable nature, the segment is anticipated to hold more than 55% market share during the forecast period.
- On basis of basis weight, 40-60 GSM is most preferred in the market due to its durability, safety and hygienic properties. The segment is anticipated to increase 1.97 times during next 10 years.
- Among end users, ready-to-eat meal segment will witness an incremental rise of US$ 293 Mn, due to rise of disposable income of middle class families in emerging economies.
- Sales in the U.S. is expected to surge at a steady rate, accounting for over 75% of the North America market in 2021.
- While China is expected to remain the leading market in East Asia, thanks to expansion of food service sector, growth in South Korea will unfold at a greater pace.
“The consumption of ready to eat products and fast foods is rising globally. Increasing application in the food and food services has created opportunities for parchment paper manufacturers to maximize their sales. Increasing emphasis on safe and recyclable paper is anticipated to redefine the parchment paper market growth” says FMI analyst.
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Focus on Sustainable Packaging Solutions Augmenting Parchment Paper Sales
Parchment papers are primarily used to pack food products without hampering the product quality. Parchment paper as a packaging solution is the most efficient way of packing food products to be delivered or stored over a period of time without disrupting the shelf-life of the product.
In the last decade, the popularity of parchment paper has reached new heights. It has emerged at a convenient option for working families to store food. Technological advancement associated with parchment paper is one of the key factors that has raised the bar parchment paper as a packaging solution.
Benefits such as variance in size to cater to specific customer requirements and others are helping the market gain momentum. Manufacturers in bakery & confectionary and ready-to-eat meals segments have started to provide a variety for products which will attract busy and hectic lifestyle of millennials. Parchment paper has emerged as a flexible, sustainable, and convenient solution for packing a variety of food items.
The packaging industry is currently focusing on the reduction in using clamshell as a primary packaging source to reduce logistical costs. This growing adoption of parchment paper over clamshells is likely to strengthen the market growth during the foreseeable future.
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Who is Winning?
Georgia-Pacific Corp., METSA Tissue, Ahlstrom-Munksjo Oyj. are the top players operating in the parchment paper market. Furthermore, Delfort Group AG, Cosmoplast, JK Paper, Nordic Paper and Kalpataru Papers LLP are also the noticeable players in the parchment paper market. The Tier 3 players in the market hold 70-75% in the global parchment paper market. In conclusion, key players contribute almost 25-30% of the global market.
Parchment Paper Market by Category
By Product Type:
- Bleached Parchment Paper
- Unbleached Parchment Paper
By Basis Weight:
- Less than 40 GSM Parchment Paper
- 41 to 60 GSM Parchment Paper
- 61 to 80 GSM Parchment Paper
By End Use:
- Bakery and Confectionary
- Ready-to-Eat Meals
- Fresh Produce
- Others
By Region:
- North America
- Latin America
- Europe
- MEA
- East Asia
- South Asia
- Oceania
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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