Parchment Paper Market Poised to Achieve US$ 1,789 Million by 2033

Anticipated to reach US$ 1,064.2 million in 2023, the global parchment paper market is poised for significant growth, with projections indicating a climb to US$ 1,789 million by 2033. This expansion is forecasted to occur at a Compound Annual Growth Rate (CAGR) of 5.7%, reflecting increasing demand across various industries such as food packaging, baking, and cooking. Parchment paper’s versatile properties, including non-stickiness, grease resistance, and heat resistance, make it a preferred choice for culinary and packaging applications. As consumers prioritize convenience and sustainability, the market for parchment paper is expected to witness sustained growth and innovation.

As an ideal substitute for clamshell packaging, parchment baking paper is gaining prominence, with manufacturers actively seeking ways to reduce the reliance on clamshell packaging as a primary means of transportation. This ongoing trend is expected to persist over the next decade, fostering a conducive environment for the increased sales of parchment paper. 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.

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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.

Market Drivers:

1. Increasing Demand in Food Industry: Parchment paper is widely used in the food industry for baking, cooking, and packaging due to its non-stick properties, moisture resistance, and heat resistance. The growing demand for convenience foods and baked goods has significantly boosted the demand for parchment paper.
2. Preference for Eco-friendly Packaging Solutions: With rising environmental concerns, there is a shift towards eco-friendly packaging materials. Parchment paper, being biodegradable and compostable, is gaining traction as a sustainable alternative to plastic and aluminum foils in food packaging, thereby driving market growth.
3. Advantages Over Alternatives: Parchment paper offers several advantages over alternatives like silicone baking mats and aluminum foils. It provides better heat distribution, prevents sticking, and is grease-resistant, making it a preferred choice in baking and cooking applications.
4. Increasing Trend of Home Baking: The trend of home baking has witnessed a surge, especially during the COVID-19 pandemic, as more people spent time cooking and baking at home. Parchment paper is an essential item for home bakers as it simplifies the baking process and facilitates easy cleanup, thus driving market demand.
5. Expanding Application Scope: Parchment paper finds applications beyond the food industry, such as in crafts, arts, and industrial sectors. Its versatility and adaptability to various applications contribute to market growth.

Market Restraints:

1. Price Fluctuations of Raw Materials: Parchment paper is primarily manufactured from cellulose fibers derived from wood pulp. Fluctuations in the prices of raw materials, such as wood pulp, can impact the production costs and, consequently, the pricing of parchment paper products, posing a restraint to market growth.
2. Competition from Substitutes: Parchment paper faces competition from alternative products such as silicone baking mats, aluminum foils, and wax paper. These substitutes offer similar functionalities and may sometimes be perceived as more cost-effective, thereby posing a challenge to the growth of the parchment paper market.
3. Limited Heat Resistance: While parchment paper is heat-resistant, it may have limitations in extreme temperature conditions, leading to concerns in high-temperature applications such as industrial processes. This limitation could restrict its adoption in certain sectors, affecting market expansion.
4. Regulatory Constraints: Stringent regulations pertaining to food contact materials and packaging may pose challenges for manufacturers in terms of compliance and certification requirements. Adhering to regulatory standards adds to the production costs and could impact market growth, especially for smaller players.
5. Availability of Alternatives: The availability of alternative packaging materials and substitutes in the market provides consumers with choices, affecting the demand for parchment paper. Manufacturers need to innovate and differentiate their products to maintain market competitiveness amidst these alternatives.

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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.

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.

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.

“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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Key Segmentations:

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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