Future Market Insights (FMI) predicts this pattern to be incredibly essential for parchment paper market development. According to its examination, deals are supposed to flood at 5.8% CAGR somewhere in the range of 2021 and 2031. Because of development of food administration area, the market is conjecture to outperform a valuation of US$ 1.6 Bn by 2031.
Parchment paper utilization has caused a critical decrease in deals for clamshell boxes through the food business. To diminish the worldwide carbon impression and its effect, central participants have begun embracing greener ways for pursuing climate consistence.
Parchment paper utilization has ascended somewhat recently through rising application in bread kitchens, cafés, pressed food, food conveyances, and remove. Besides, rigid climate rules are being applied across numerous nations to lessen reliance on non-biodegradable materials, consolidating every one of these, deals of parchment paper are expected to observe huge flood during the gauge time frame.
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FMI estimate has that the future interest and deals of parchment paper will be clear and will increment. Factors, for example, expansion in working class family pay, natural guidelines, accommodation factor, combined with headways in reusing cycles will dramatically expand the parchment paper deals around the world.
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.
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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.
Who is Winning?
Georgia-Pacific Corp., METSA Tissue, Ahlstrom-Munksjo Oyj. are the top players operating in the parchment paper market. Furthermore, Delfort Group AG, Cosmoplast, JK Paper, Nordic Paper and Kalpataru Papers LLP are also the noticeable players in the parchment paper market. The Tier 3 players in the market hold 70-75% in the global parchment paper market. In conclusion, key players contribute almost 25-30% of the global market.
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
- Others
By Region:
- North America
- Latin America
- Europe
- MEA
- East Asia
- South Asia
- Oceania
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