Rising Demand for Sustainable Food Wrapping Papers Spurs Market Growth: Eco-friendly Options on the Rise

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Oct 18, 2023, 14:45 ET

DUBLIN, Oct. 18, 2023 /PRNewswire/ -- The "Global Food Wrapping Paper Market Size, Share, Growth Analysis, By Product type, By End use - Industry Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.

The Global Food Wrapping Paper Market, valued at USD 343.33 billion in 2021, is set to grow at a Compound Annual Growth Rate (CAGR) of 5.7% in the forecast period (2023-2030), reaching USD 562.3 billion by 2030, according to a recent report.

The surge in demand for hygienic and convenient packaging solutions for various food items is driving the food wrapping paper market. These papers, including kraft paper, wax-coated paper, foil paper, and biodegradable materials, are used to wrap fast food items such as chicken, pizza, sandwiches, and burgers. The market is also benefiting from the increasing digitization of foodservice operations, catering to customers' preferences and the presence of recycling infrastructure for plastics, metals, and glass.

However, concerns about waste resulting from improper packaging practices may hinder market growth. Additionally, the fluctuating prices of raw materials, particularly polypropylene and aluminum, pose a challenge to the growth of the food wrapping paper market.

Segments covered in this report

The Food Wrapping Paper Market is segmented based on Product type, end-use, and region. Product type segments include Plastic and Paper, while end-use segments encompass Hotels, Restaurants, Cafes, Fast Food Outlets, Cinema, Airlines & Railway Catering, Institutions, and Others. The regions covered are North America, Europe, Asia-Pacific, Latin America, and MEA.

Analysis by product

In terms of product type, paper-based food wrapping material dominates the market. Greaseproof sheets, in particular, have seen a surge in demand, thanks to major fast-food chains adopting paper-based packaging.

Regional Insight

Asia Pacific leads the Food Wrapping Paper market, driven by the popularity of fast food restaurant chains and rising disposable incomes. North America and Europe also experience significant growth due to high demand for convenience foods. Latin America, the Middle East, and Africa are expected to show substantial growth due to the increasing popularity of fast food.

Market Dynamics

The global food wrapping paper market is driven by the demand for sustainable packaging solutions. Vendors are developing compostable wrapping paper and other eco-friendly products in response to concerns about the environmental impact of traditional materials. However, fluctuating raw material prices, such as kraft paper, pose a challenge.

Competitive Landscape

The global food wrapping paper market is highly competitive and fragmented. Major players focus on innovations, mergers, acquisitions, collaborations, partnerships, and R&D to maintain a competitive edge.

Market Trends

A significant trend in the industry is the adoption of reusable materials for food wrapping paper manufacturing. Reusable food wrapping paper, like beeswax wraps, offers sustainable and long-lasting packaging solutions, contributing to market growth.

Companies Mentioned

Amcor plc
Berry Global Inc.
Mondi Group
Huhtamaki Oyj
Sealed Air Corporation
Reynolds Group Holdings Ltd.
Graphic Packaging International, LLC
Smurfit Kappa Group plc
WestRock Company
International Paper Company
DS Smith Plc
Uflex Limited
SCG Packaging Public Company Limited
BillerudKorsnas AB
Sappi Limited
Nippon Paper Industries Co. Ltd.
Ahlstrom-Munksjo Oyj
Mitsubishi Paper Mills Limited
Michelman Inc.
Glatfelter Corporation

Key Topics Covered:

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
Drivers
Opportunities
Restraints
Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
Drivers
Opportunities
Restraints
Challenges
Regulatory Landscape
Porters Analysis
Competitive rivalry
Threat of Substitute Products
Bargaining Power of Buyers
Threat of New Entrants
Bargaining Power of Suppliers
Special Insights on Future Disruptions
Political Impact
Economic Impact
Social Impact
Technical Impact
Environmental Impact
Legal Impact

Global Food Wrapping Paper Market by Product type

Market Overview
Plastic and Paper

Global Food Wrapping Paper Market by End use

Market Overview
Hotels
Restaurants
Cafes
Fast Food Outlets
Cinema
Airlines & Railway Catering
Institutions and Others

Global Food Wrapping Paper Market Size by Region

Competitive Landscape

Key Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/8cc23f

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