The research conducted by FMI indicates a positive outlook for the global greaseproof paper sheets market. The market is predicted to reach a value of US$ 1.2 billion in 2023 and is expected to further expand at a CAGR of 5.8% to reach US$ 2.1 billion by 2033. The top three countries are estimated to contribute 25-30% of the global market revenue by the end of 2023.
The continuously increasing demand for online food delivery is driving the growth of the greaseproof paper sheets market, with the unbleached segment projected to hold a major portion, accounting for around 57% of the global market by 2033.
In 2022, the greaseproof paper sheets market generated total revenue of US$ 1.1 billion, and it is expected to reach US$ 2.1 billion by 2033, growing at a CAGR of 5.8% during the forecast period. The market is expected to present attractive incremental growth opportunities, with sales projected to rise from 2023 to 2033, generating a growth opportunity of US$ 933.9 million.
The rising demand for greaseproof packaging in the food industry is a significant driver for the greaseproof paper sheets market. The market is expected to expand 1.7 times the current market value during the forecast period, indicating robust growth prospects.
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From 2018 to 2022, the global greaseproof paper sheets market witnessed a growth rate of 3.9% CAGR, reaching US$ 1.2 billion in 2022. This positive growth trajectory is expected to continue, driven by the increasing demand for greaseproof paper sheets in various applications within the food industry.
Key Takeaways:
- The global greaseproof paper sheets market is predicted to reach US$ 1.2 billion in 2023 and is projected to grow at a CAGR of 5.8% to reach US$ 2.1 billion by 2033.
- The unbleached segment is expected to hold a major portion of the market, accounting for around 57% by 2033.
- The rising demand for online food delivery and greaseproof packaging in the food industry is driving the growth of the greaseproof paper sheets market.
- The market is expected to present attractive incremental growth opportunities, with sales projected to rise significantly from 2023 to 2033.
- The greaseproof paper sheets market has been witnessing positive growth, with a CAGR of 3.9% from 2018 to 2022, reaching US$ 1.2 billion in 2022
Country-wise insights
How does the United States trigger the Demand for Greaseproof Paper Sheets?
The US is expected to expand 1.6 times the current market value of the North American greaseproof paper sheet market by the end of the forecast period.
According to the article published by the National Hot Dog and Sausage Council (NHDSC), American people spend more than 7.5 million dollars on hot dogs in the year 2021, and residents of Los Angeles were at the top in the consumption of hot dogs. All schools, cafeterias, supermarkets, restaurants, and concession stands in the United States serve hot dogs on their menu. Retail sales of hot dogs in the United States are worth 944.3 million pounds in the year 2020. The consumption of hot dogs in the United States is triggering the demand for greaseproof paper sheets.
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Competitive Landscape
- In March 2022, Napco National trading and distribution division announced its partnership with one of the pioneers in the food manufacturing industry which is Sunbulah Group in the Middle East and Saudi Arabia.
- In December 2021, Nordic Paper announced the completion of acquiring Glassine Canada Inc., which is the manufacturer of greaseproof paper based in Canada and supplies in North America, for expanding its footprint in North America.
Key Players:
- Nordic Paper AS
- Georgia-Pacific Corp.
- Ahlstrom Munksjo Oyj.
- McNarin Packaging
- SIMPAC Inc
- KRPA Holding CZ a.s.
- Napco National
- Twin Rivers Paper Company
- Fulton International Industry Limited
- Ahlstrom-Munksjö Oyj
Greaseproof Paper Sheets Market by Category
By Basis Weight, Greaseproof Paper Sheets Market is segmented as:
- Below 40 GSM
- 40 to 80 GSM
- Above 980 GSM
By Product Type, Greaseproof Paper Sheets Market is segmented as:
- Bleached
- Unbleached
By End Use, Greaseproof Paper Sheets Market is segmented as:
- Bakery & Confectionary
- Ready-to-Eat Meal
- Fresh Produce
- Other Food Products
By Region, Greaseproof Paper Sheets Market is segmented as:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa (MEA)
- Oceania
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About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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