At present the freezer paper market is estimated US$ 52698 Mn for the year 2022. This market is valued at a CAGR of 4.00% for the duration of 2018-2028. The global freezer paper market is expected to reach US$ 66,680 Mn by the end of 2032.
Key drivers of rising demand of freezer paper
Demand for innovation in packaging is rising as its gaining importance in terms of transportation ease and customers’ preference for packaged food. Paper packing solutions like freezer paper are increasingly being adopted by food service companies as they are environmentally friendly and improve the shelf life of food.
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Meat products remain on the top preferences by consumers as they derive a substantial amount of protein, and freezer paper does provide an effective packing option for meat products. The growth in disposable income across the globe is fostering preferences for healthy and hygienic food consumption.
It is also initiating demand for effective food packaging alternatives. Bakery and confectionary producers also adopt the usage of butcher paper for food packaging, opening its demand in new sectors.
Restraints
The high cost of raw materials is a challenge faced by manufacturers leading to higher production costs. The rising product cost may decline the profit margin of firms. Industry-specific research and innovation can save costs and help companies to maintain a competitive edge. Food safety and standards are required to be followed to ensure food quality.
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Trends and Opportunities
The meat and ready-to-eat food industry are witnessing a rise in demand for packaging papers across the globe. This is due to busy lifestyles and takeaway food trends. At present (2022), The prepared food market is estimated at US$ 154.43 Bn, which is projected to grow in the forecast duration.
This rising growth opens opportunities for innovation by food packaging manufacturers in the industry. Butcher wraps and counter rolls are a few of these innovations. The key market players are trying to maintain a market edge by acquiring smaller firms and investing in innovation.
As a result, global competition is expected to rise in the near future. Manufacturers also focus on the sustainability of food packaging out of environmental concerns.
Threats
The rising market competition is an imposing threat factor for many firms in the packaging industry. Companies like Buckeye Paper offer just-in-time stocking programs which ensure they can meet customer needs 24 hours a day.
At the same time, other players such as Reynolds Consumer Products Inc have focused on expanding brands, namely wraps, kitchen, fresh lock, and Hefty. Many prominent players in the industry are working on different business tactics in terms of innovation, brand expansion, and market research leading to rising competition.
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Freezer Paper Market Overview
Many attributes of food industry is dependent on packaging industry. Efficient packaging enables manufacturers to extend the shelf life of the food items and improves the handling of the food items thus benefiting both retailers and food service industry. Freezer paper is one such solution innovated by packaging manufacturers which provide efficient storage of the food applications.
Freezer paper is a thick paper waxed from one side. Manufacturers use the other side of the freezer paper for advertisement and labeling purpose. Meat products are packed against the waxed side of the freezer paper and labeling or printing on other side of the freezer paper increases the visibility of the company helping in building of brand image.
The waxed side of the paper does not allow juices of the meat to seep through or moisture to penetrate inside the packaging. Freezer paper also provides strength to the packaged product through its thickness enabling storage of the meat products. Most of the freezer paper are microwavable and are available in the form of rolls and sheets for various sizes for both bleached and unbleached product format.
Freezer Paper Market: Market Dynamics
With the expanding attributes of packaging, the role of packaging is also increasing. Now world flexible packaging market is estimated to be US$ 238 Bn and is expected to grow at a CAGR of over 5.5% during the forecast period. The extensive use of freezer paper for storage of meat products is the key driver for freezer paper market.
The ability of freezer paper providing strength to the packaged products is another factor supporting the growth in the freezer paper market. Apart from packaging capabilities, the use of freezer paper also provides smooth printing areas for packaging manufacturers hence increasing the attractiveness for freezer paper market.
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Being a biodegradable product the demand for freezer paper is set to increase during the forecast period creating significant opportunities for freezer paper market. However, the presence of meat packaging formats such as vacuum skin packaging may hamper the growth in freezer paper market.
The low cost of raw material, light in weight, simple process for production and ease in usage may add advantage and provide an edge for freezer paper over its substitutes and support the growth in freezer paper market. Most of the manufacturers are using bleached freezer paper so as to increase the attractiveness of the packaged items.
North America is expected to account for the largest share in consumption of freezer paper market due to the large consumption of meat products. Western and Eastern Europe regions are expected to account for the significant share in freezer paper market due to the lifestyle of the consumers in the region.
The demand for freezer paper is expected to increase in Latin America and Middle East & Africa Market. Asia Pacific excluding Japan region is expected to grow moderately during the forecast period in freezer paper market. Growth in freezer paper market is expected to grow rapidly in Japan region.
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