Parchment paper usage has caused a significant reduction in sales for clamshell boxes through the food industry. To decrease the global carbon footprint and its impact, key players have started adopting greener ways for working towards environment compliance.
Future Market Insights (FMI) predicts this trend to be extremely crucial for parchment paper market growth. As per its analysis, sales are expected to surge at 5.8% CAGR between 2021 and 2031. Thanks to expansion of food service sector, the market is forecast to surpass a valuation of US$ 1.6 Bn by 2031.
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Parchment paper consumption has risen in the last decade through rising application in bakeries, restaurants, packed food, food deliveries, and take-away. Moreover, stringent environment rules are being applied across many countries to reduce dependency on non-biodegradable materials, combining all these, sales of parchment paper are anticipated to witness significant surge during the forecast period.
FMI forecast has that the future demand and sales of parchment paper will be definite and will continue increasing. Factors such as increase in middle class family income, environmental regulations, convenience factor, coupled with advancements in recycling processes will exponentially increase the parchment paper sales globally.
Key Takeaways from Parchment Paper Market
- By product type, unbleached paper segment is ahead and leading the market. With its sustainability and recyclable nature, the segment is anticipated to hold more than 55% market share during the forecast period.
- On basis of basis weight, 40-60 GSM is most preferred in the market due to its durability, safety and hygienic properties. The segment is anticipated to increase 1.97 times during next 10 years.
- Among end users, ready-to-eat meal segment will witness an incremental rise of US$ 293 Mn, due to rise of disposable income of middle class families in emerging economies.
- Sales in the U.S. is expected to surge at a steady rate, accounting for over 75% of the North America market in 2021.
- While China is expected to remain the leading market in East Asia, thanks to expansion of food service sector, growth in South Korea will unfold at a greater pace.
Focus on Sustainable Packaging Solutions Augmenting Parchment Paper Sales
Parchment papers are primarily used to pack food products without hampering the product quality. Parchment paper as a packaging solution is the most efficient way of packing food products to be delivered or stored over a period of time without disrupting the shelf-life of the product.
In the last decade, the popularity of parchment paper has reached new heights. It has emerged at a convenient option for working families to store food. Technological advancement associated with parchment paper is one of the key factors that has raised the bar parchment paper as a packaging solution.
Benefits such as variance in size to cater to specific customer requirements and others are helping the market gain momentum. Manufacturers in bakery & confectionary and ready-to-eat meals segments have started to provide a variety for products which will attract busy and hectic lifestyle of millennials. Parchment paper has emerged as a flexible, sustainable, and convenient solution for packing a variety of food items.
The packaging industry is currently focusing on the reduction in using clamshell as a primary packaging source to reduce logistical costs. This growing adoption of parchment paper over clamshells is likely to strengthen the market growth during the foreseeable future.
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Impact of COVID-19 on Parchment Paper Market
Global crisis of COVID-19 pandemic had negative impact on the sales of parchment paper. Lack of availability of raw pulp and paper materials in paper mills has halted the manufacturing process of parchment paper. Lockdown in t regions such as Oceania, Europe, South & East Asia and North America has induced considerable impact on the manufacturing of parchment paper.
Also, supply chains were disrupted and strict guidelines led to a complete closure of manufacturing plants for months. In general, the sales for parchment paper nearly halted during the lockdown. But during the last few months of the year 2020, supply chains were restored and trade routes re-opened due to which target market has begun gaining traction.
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
- North America
- Latin America
- East Asia
- South Asia
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A recent market report published by FMI on the parchment paper market provides global industry analysis for 2015-2020 & forecast for 2021-2031. The report offers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical, as well as current growth parameters of the parchment paper market, the growth prospects of the market are obtained with maximum precision.