Global Parchment Paper Market is Set to Reach US$ 1,789 Million at a CAGR of 5.7% During the Forecast Period of 2023 to 2033 | Future Market Insights, Inc.

NEWARK, DE / ACCESSWIRE / April 24, 2023 / In 2023, the parchment paper market is anticipated to reach an outstanding worth of US$ 1,064.2 million, and by 2033, it is anticipated to reach US$ 1,789 million, growing at a CAGR of 5.7%.

Due to evolving eating patterns and changing lifestyles, the Gen-Z population is consuming more bakery goods than ever before. Because parchment paper resists grease and is non-stick, it is the best packing material for guaranteeing the quality of food products.

In 2020, Nordic Paper AS initiated a campaign aimed at professional bakers. Bakers are generally strict about the ingredients they use in their products and because most baking papers consist of fluorochemicals, there's always a chance of food poisoning and food contamination. To tackle this, Nordic Paper initiated a campaign in collaboration with National Swedish Baking Team. This led to a positive surge in sales of unbleached parchment paper in the European continent which provided a much-needed push for overall market growth.

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In the last few years, the popularity of parchment paper has reached new horizons. It has emerged as a most suitable solution for working families to store food. In addition, technological advancement associated with parchment paper is another factor that is expected to drive market growth in the coming years.

This paper offers different size variations which help in meeting specific customer requirements. Manufacturers in bakery & confectionary and ready-to-eat meals segments have started to employ these papers which will drive product demand by gaining attraction millennials. Parchment paper has emerged as a sustainable, flexible, and convenient solution for the packaging of a variety of food items. This is expected to drive product demand in the forecast period as well.

Also, the rising focus of the packaging industry on the reduction of clamshell use as a primary packaging alternative to reduce transportation costs is helping the market to grow. The growing adoption of parchment paper over clamshells is expected to bolster product demand in the foreseeable future.

Key Takeaways

• North America is expected to accumulate over 36% revenue share by end of the forecast period.
• The market in India is projected to witness a promising CAGR of 8.3% during the forecast period.
• China is projected to exhibit a 6.3 % of CAGR during the forecast period.
• By product type, unbleached parchment paper is projected to account for 72% market share by end of the forecast period.
• By end-use, ready-to-eat meals are expected to lead the market by withholding over 40% market share by end of the forecast period.

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"Rise in consumer spending on fast food service and growing popularity of on-the-go eating and online food delivery services will propel the demand for parchment paper over the forecast period,"- Comments an FMI analyst.

Competitive Landscape

The parchment paper market is extremely competitive and consists of numerous key industry players. These players are innovating new products in the respiratory devices domain. This is expected to propel Parchment Paper market. The key industry players are:

Georgia-Pacific Corp., JK Paper, Ahlstrom Munksjo Oyj., Delfort Group AG, METSA Tissue, McNarin Packaging, KALPATARU Papers LLP, Pudumjee Paper Products, Awa Paper and Technological Co. Inc., Cosmoplast, Nordic Paper AS, The GRIFF Network, KRPA Paper AS.

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 March 2022, Wipak UK shared its plans to launch a recyclable paper wrap for butter developed using renewable, FSC-certified paper. The product offers optimal grease resistance and is manufactured using ultra-thin natural coatings. The company asserts that its new paper wrap will reduce carbon footprint by around 68% relative to standard wraps used for butter packaging.

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Key Segments Profiled in the Parchment Paper Industry Survey

By Product Type:

• Bleached Parchment Paper
• Unbleached Parchment Paper

By Basis Weight:

• Less than 40 GSM
• 41 to 60 GSM
• 61 to 80 GSM

By End Use:

• Bakery and Confectionery
• Ready-to-Eat Meals
• Others

By Distribution Channel:

• Hypermarkets
• Supermarkets
• Specialty Stores
• Online Stores

By Region:

• North America
• Latin America
• Europe
• Asia Pacific

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Table of Content

1. Executive Summary | Parchment Paper Market

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

4.1. Historical Market Size Value (US$ Million) & Volume (Tonnes) Analysis, 2018 to 2022

4.2. Current and Future Market Size Value (US$ Million) & Volume (Tonnes) Projections, 2023 to 2033

4.2.1. Y-o-Y Growth Trend Analysis

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type

5.1. Introduction / Key Findings

5.2. Historical Market Size Value (US$ Million) & Volume (Tonnes) Analysis By Product Type, 2018 to 2022

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About the Packaging Division at Future Market Insights

The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.

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