The Food Contact Paper Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Food Contact Paper Global Market Report 2024, The food contact paper market size has grown steadily in recent years. It will grow from $71.55 billion in 2023 to $74.44 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The growth in the historic period can be attributed to consumer safety concerns, market expansion in food packaging, innovation in barrier coatings, sustainability initiatives, consumer preferences for convenience.
The food contact paper market size is expected to see steady growth in the next few years. It will grow to $88.64 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to digitalization in packaging, global food packaging growth, shift to bio-based materials, sustainable packaging demands. Major trends in the forecast period include antimicrobial properties, single-use packaging solutions, transparency and labeling, biodegradable and compostable materials, customized and brand-specific packaging.
Rising demand for bakery products is expected to propel the growth of the food contact paper market in the coming future. Bakery products refer to a wide range of food items that are baked in an oven, such as bread, cakes, pastries, cookies, muffins, croissants, and bagels. The bakery industry is one of the major users of food contact paper, as bakery products like bread, cakes, pastries, and cookies require proper packaging to maintain their freshness and quality. For instance, in January 2023, according to the report published by Agriculture and Agri-Food Canada, a department of the Government of Canada, the value of bread and bakery food products imported by Mexico from around the world in 2021 amounted to $198.5 million, with an accompanying import volume of 72.1 thousand metric tons. The primary suppliers to Mexico were the United States, accounting for 79.2% of the market share ($157.2 million), followed by Canada at 4.7% ($9.4 million). Notably, Canada emerged as the second-largest import market for Mexico, with a significant growth rate of 25.0% between 2017 and 2021. Therefore, the rising demand for bakery products is driving the food contact paper market.
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The food contact paper market covered in this report is segmented –
1) By Type: Poly Coated, Non-Poly Coated
2) By Material: Kraft Paper, Specialty Paper, Recycled Paper, Other Materials
3) By Application: Bakery And Confectionery, Fresh Food, Dairy Products, Fast Food, Baby Food, Other Applications
Sustainable and innovative packaging is a key trend gaining popularity in the consumer and food contact paper markets. Major companies operating in the food contact paper market are focused on developing sustainable and innovative packaging solutions for fresh food products to strengthen their position in the market. For instance, in April 2023, Novolex, a US-based manufacturer of packaging products, launched Power Prep, a new line of laminated insulated packaging for fresh food. Novolex’s Power Prep uses non-fluorinated oil-and-grease-resistant paper that is laminated with a honeycomb pattern to create an insulated layer. The packaging is also more puncture-resistant than traditional foil or foil/paper structures and features anti-curling capabilities to allow for flat sheeting when assembling food products at scale.
The food contact paper market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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