The global parchment paper market is expected to reach US$ 1,789 million by 2033, growing at a CAGR of 5.7% from 2023, according to a report by FMI.
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Key Drivers of Market Growth:
- Convenience: Consumers increasingly seek products that simplify cooking and food preparation. Parchment paper’s easy clean-up and transfer features cater to this demand.
- Rising Bakery and Restaurant Spending: Growing consumer spending on bakery and restaurant purchases fuels the demand for parchment paper used in these establishments.
- Convenience Food Trends: The rising popularity of convenience foods positively impacts the market, as parchment paper is often used in their packaging.
- Hygiene and Health Awareness: Heightened health awareness drives demand for hygienic food packaging solutions, a segment where parchment paper excels.
- Eco-Friendly Packaging: The growing focus on sustainability propels the use of parchment paper as a biodegradable and recyclable alternative to plastic packaging.
Eco-Friendliness: A Major Advantage
The report highlights the eco-friendly attributes of parchment paper as a key growth factor. Parchment paper’s suitability for:
- Microwaving
- Biodegradability
- Recyclability
- Bakery Packaging
makes it a viable and sustainable packaging solution.
Challenges and Opportunities
The high cost of parchment paper and potential environmental concerns regarding paper production are potential hurdles to market growth. However, the report identifies opportunities in:
- Technological advancements in the packaging industry
- Growing demand for packaged foods
- Government regulations promoting sustainable packaging
North America Leads the Way
North America is expected to dominate the global parchment paper market, driven by factors such as:
- Thriving packaging industry
- Rising demand for packaged foods
- Investment in the food & beverage sector
- Strict food safety regulations favoring parchment paper as a hygienic packaging solution
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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
By Region:
- North America
- Latin America
- Europe
- MEA
- East Asia
- South Asia
- Oceania
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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