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%.
The substantial increase in demand for greaseproof paper within the baking and packaging sectors is poised to elevate product sales, fueled by the growing preference for packaged foods and advancements in packaging technology, contributing significantly to the industry’s revenue growth.
In North America, the growth prospects for parchment paper are exceptionally promising, with the region projected to dominate the market, reaching a 24.2% market share by the end of 2023 and a commanding 36% by the forecast period’s conclusion. This growth is attributed to a thriving packaging industry, increasing demand for packaged foods, and substantial investments in the food and beverage sector. The implementation of stringent food safety norms further boosts the market, particularly for safe and hygienic food packaging solutions like unbleached parchment paper, commonly used for wrapping products such as burgers and bakery items.
Request Sample Report Here: https://www.futuremarketinsights.com/reports/sample/rep-gb-5776
In the United States, which is anticipated to accumulate over 72% of the North American market by 2033, the rising sales of bakery and confectionery products are driving increased consumption of parchment paper, making it the preferred choice for transporting confectionery products in bulk across the continent.
In India, parchment paper is expected to secure a significant market share of over 25% by the end of the forecast period. The country’s growing population and increased consumption of packaged food are key drivers, particularly in the expanding food service industry. The demand for parchment paper is further propelled by the focus on sustainable packaging solutions, with prominent food and food service players transitioning from clamshell products to parchment paper to reduce their carbon footprint. The convenience-driven demand from industries like baking and confectionery, coupled with the overall growth in food services, is expected to fuel substantial sales growth in India.
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.
Request Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-5776
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.
Ready to Learn About Our Approach? Explore Our Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-5776
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
