Introduction
Parchment paper, also known as baking paper, is a versatile kitchen essential that has gained immense popularity in recent years. This non-stick, heat-resistant paper has become an indispensable tool for both professional chefs and home cooks alike. In this article, we will delve into the world of the parchment paper market, exploring its growth, applications, benefits, and future prospects.
What is Parchment Paper?
Parchment paper is a specialized paper that is coated with silicone, giving it excellent non-stick properties. It is commonly used for baking and cooking purposes as it prevents food from sticking to the pan or tray, making the cooking process easier and more convenient. Parchment paper is available in various sizes and formats, including rolls, sheets, and pre-cut rounds.
The parchment paper market is poised for substantial growth, with a projected valuation of US$ 1,064.2 million in 2023, surging to US$ 1,789 million by 2033 at a notable CAGR of 5.7%.
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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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Parchment Paper Market Growth Factors
The parchment paper market is expected to witness continued growth in the coming years. Several key factors contribute to this upward trajectory:
1. Increasing Health Consciousness
As individuals become more health-conscious, they are actively seeking cooking methods that reduce the need for excess fats and oils. Parchment paper offers a healthier alternative by eliminating the need for greasing pans. This shift towards healthier cooking practices is expected to drive the demand for parchment paper.
2. Growing Baking Industry
The baking industry is experiencing remarkable growth, fueled by the popularity of baking shows, online baking tutorials, and the increasing trend of homemade baked goods. Parchment paper is an indispensable tool for bakers, ensuring effortless release of delicate creations and enhancing the overall baking experience.
3. Sustainable and Eco-Friendly Practices
With the rising concern for the environment, consumers are actively seeking sustainable and eco-friendly products. Parchment paper, being biodegradable and compostable, aligns with these values. As more individuals prioritize eco-friendly choices, the demand for parchment paper is expected to rise.
4. Advancements in Parchment Paper Technology
Manufacturers are continuously investing in research and development to improve the quality and functionality of parchment paper. New advancements in technology have resulted in enhanced non-stick properties, better heat resistance, and improved tear resistance. These innovations attract consumers looking for superior performance in their cooking endeavors.
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 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.
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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
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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