Introduction
In the world of baking, success often depends on the smallest of details. One such detail that has gained immense popularity in recent years is parchment paper. This unassuming kitchen staple has become a secret weapon for bakers around the globe. In this comprehensive guide, we’ll delve deep into the Parchment Paper Market, exploring its uses, benefits, and everything you need to know to bake like a pro.
Parchment Paper Industry: A Baking Essential
Parchment paper, also known as baking paper, is a versatile kitchen accessory that has taken the culinary world by storm. This grease-resistant paper is not just a convenient tool; it’s a game-changer for both amateur and professional bakers alike.
An increase in consumer preference toward products that provide easy clean-up and easy transfer features during the cooking process is one of the major factors driving the market growth. Also, the rise in consumer habits to spend more in bakeries and restaurants is further enhancing product demand.
With steady growth on the horizon, the worldwide parchment paper market is poised to achieve a value of US$ 1,064.2 million in 2023, and it’s estimated to surge to US$ 1,789 million by 2033, driven by a robust compound annual growth rate (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.
Some recent developments in the market are:
Key market players are leveraging on inorganic growth strategies like acquisition, mergers, partnerships, and collaboration in order to enhance their product portfolio. This is expected to fuel the global Parchment Paper Market.
- In July 2022, Nordic Paper created a new natural greaseproof paper for the food industry without the presence of fluorochemicals in them. The company has achieved a breakthrough in attaining natural barrier properties in its newly developed paper product without the addition of fluorochemicals. Developments like these are helpful for the company to attract more customer base by offering more sustainable options to packaging manufacturers.
- In December 2021, Nordic Paper concluded the acquisition of Glassine Canada Inc. This acquisition is expected to help the company to make a strong footprint in the North American market.
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.
Key Takeaways from Parchment Paper Industry
- 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 Million, 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.
Unleashing the Growth Potential
The parchment paper market has experienced rapid growth, fueled by its versatility and increasing consumer interest in culinary experiences. This section explores the factors driving the market’s expansion and the opportunities it presents.
Growing Demand in Culinary Industry
With the rise of cooking shows, food blogs, and social media platforms, home cooks are increasingly experimenting with recipes that require parchment paper. Its ability to enhance presentation and flavor has spurred its demand.
Commercial Kitchens Embrace Parchment Paper
Beyond home kitchens, commercial establishments such as bakeries and restaurants are adopting parchment paper for its time-saving attributes. It streamlines the cooking process, reduces cleaning efforts, and maintains food quality.
Innovative Applications
The market’s growth is further accelerated by the innovative uses of parchment paper. It’s not only limited to culinary applications but is also utilized in crafting, art, and even as an eco-friendly gift wrap.
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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 (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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