Food Contact Paper Market: Opportunities Abound as Customized & Multifunctional Packaging Takes Centre Stage
With paper increasingly becoming the material of choice for food packaging, for both, consumers and manufacturers, there has been a flurry of activity in the global paper packaging market. Manufacturers in the food contact paper market are increasingly trying to keep pace with this growing demand for paper packaging solutions for food, while focusing on improving the functionality of the paper used. They are aiming at product innovation that offers characteristics such as moisture-resistance, grease resistance, and temperature control. With multifunctional packaging paper, as a product, being relatively new and offered by a few players in the global food contact paper market, manufacturers are beginning to focus on R&D into the same to gain a competitive advantage.
The trend of tailor-made products has had a big impact on the global food contact paper market, as manufacturers are increasingly looking at customized products in order to enhance product appeal for end users in the value chain. This has opened up a plethora of opportunities for players, as customized and specialized products are becoming a routine option being offered, aimed at expanding the customer base.
The global food contact paper market is expected to expand at a moderate pace throughout the forecast period, and reach a valuation of ~US$ 7.4 Bn by the end of the forecast period (2019-2027).
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Environmentally-friendly Materials and Circular Economy
Convenience and ready-to-go foods have witnessed significant growth in recent decades, primarily driven by changing lifestyles, boosting the growth of the food packaging market. Globally, there is a push for the reduction of plastics from packaging, especially where food is concerned, which can be attributed to the growing pressure from governments to decrease plastic waste. This is particularly significant in the case of single-use food packaging that is used by food companies, which has resulted in paper packaging gaining traction. Key players in the global food contact paper market are leveraging this increasing awareness and interest in environmentally-friendly food packaging materials to introduce lighter, efficient single-use food packaging products.
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Circular Economy - another buzzword in the overall packaging market, which primarily focuses on minimizing the loss of value of products and the continual use of resources, has also led to manufacturers not just focusing on making products that can be reused and recycled, but those which can also be redesigned.
Thickness of Paper: Significant Factor Affecting Adoption
Food contact paper of varying thickness is widely used, from cooking and baking to the packaging of both, solid and liquid foods. However, the common denominator of all these applications is the preference for food contact paper that does not dissolve into the food, compromising its integrity. In 2018, by value, food contact paper with a thickness of up to 30 GSM accounted for over half of the total market share, the popularity of which can be attributed to this paper being thick enough to hold the contaminants that are released by the food. This segment will continue to occupy the largest share of the food contact paper market by revenue at the end of the forecast period
Food Integrity and Regulations Governing Overall Food Contact Paper Landscape
The premium placed on preserving the integrity of food is very high, from both, consumers and food manufacturers. To this end, several regulatory organizations around the world have been established to monitor the quality of food contact packaging materials. Regulations imposed by these organizations, such as the FDA in North America, have had an indisputable effect on the expansion of the larger food packaging materials industry, and specifically, the food paper contact market.
Manufacturers in the food contact paper market have increasingly targeted their R&D activities toward aligning with these regulations regarding the use of harmful chemicals in the production of food contact paper. One of the biggest challenges faced by players in the market is treating food contact paper with chemicals to make them waterproof or grease-proof. However, the use of these chemicals is allowed only with a functional barrier also being incorporated into the product so as to prevent it from contaminating the food.
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Analysts’ Overview
According to analysts at Transparency Market Research, the food contact paper market is set to expand at a moderate ~4% volume CAGR over the forecast period of 2019-2027. This can be attributed to the push for the use of biodegradable, sustainable packaging for food, being adhered to my stakeholders, globally. Manufacturers in the global food contact paper market, keeping pace with this trend, and focusing on compostable and environmentally-friendly packaging, are likely to maximise their gains during the forecast period.
The markets in APAC and LATAM, which have witnessed a burst of activities in the recent years, are expected to expand the fastest, which can be attributed to the changing food consumption patterns in these regions. Manufacturers looking to take advantage of this trend and expand into these regions are likely to benefit the most from the lucrative opportunities that these regions would offer.
Food Contact Paper Market: Scope of the Report
Transparency Market Research (TMR) started a new study on the global food contact paper market for the forecast period of 2019-2027. In the market study, lucrative opportunities are seen for food contact paper. The report enumerates valuable insights to enable readers in making winning business decisions for the future growth of their businesses. The report sheds light on the significant factors that are constantly shaping the growth of the food contact paper market, untapped opportunities for manufacturers, trends and developments, and other insights across various key segments. Macroeconomic factors that are directly or indirectly affecting the growth of the food contact paper market are also incorporated in the report.
Key Questions Answered
- What will be the food contact paper market size in 2027?
- Which region will remain the most lucrative for the growth of the food contact paper market?
- Which end use is most preferred for food contact paper? What was its market size in 2018?
- Who are the major customers for food contact paper?
- What is the market share comparison between different sources in the food contact paper market?
Key indicators associated with the food contact paper market have been evaluated thoroughly in the report. The study highlights vital market dynamics such as the key drivers, challenges, and trends, along with opportunities in the global food contact paper market. A comprehensive study on the supply chain of the global market has also been encompassed in the report. Furthermore, forecast factors and forecast scenario of the food contact paper market have been encompassed in the report to understand the future prospects of the market.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments have been delivered in the report. The food contact paper market has been analyzed at both, regional and country levels.
The market report provides an exhaustive evaluation on the structure of the food contact paper market, in tandem with a dashboard view of all the leading companies profiled in the report. A company share analysis on food contact paper market players has also been presented in the report, apart from the footprint matrix on the profiled market players. The report depicts the presence of food contact paper manufacturers by leveraging an intensity map. The report also highlights the key end users for food contact paper.
Research Methodology
A realistic methodology, along with a holistic approach, make the base for incisive insights provided in the food contact paper market report for the study evaluation period. The TMR report comprises detailed information on the growth prospects of the food contact paper market, along with riveting insights into the forecast assessment of the market.
Extensive primary and secondary research has been employed to garner incisive insights into the forecast study of the food contact paper market. The report has further gone through cross-validation by in-house professionals to make the food contact paper market report one-of-its-kind, with the highest credibility.