In terms of revenue, the Global Food Contact Paper Market is expected to reach USD 90.1 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.5% from 2022 to 2028.
Convenience food and takeaway packs are common applications for Food Contact Paper in the food and beverage industry. Manufacturers of food items, lodging establishments, and eating establishments all favor using it. This paper is suitable for use in the food industry since it is resistant to moisture and grease and maintains a consistent temperature.
The expansion of the Food Contact Paper market will be spurred by rising demand from the food and beverage industry. In addition, the market should benefit from the growing popularity of meal delivery services, which are being adopted by a growing number of fast food chains, restaurants, and hotels. Furthermore, Food Contact Paper's decreasing price, sustainability, and eco-friendliness are other factors in customers' changing preferences, which should drive market expansion.
However, many chemicals are used in the production and processing of Food Contact Paper so that it is resistant to grease. The growth of the market is anticipated to be stifled by rising public awareness about the safety of chemical preservation methods for food.
Key Developments in the Industry
· UPM Specialty Papers New food-safe, pulpable, recyclable, FDA and BfR compliant, and safe for direct Food Contact Paper will be introduced by UPM Specialty Papers in September 2022.
· Under FDA Food Contact Notification 1921, Leucophor AFCN liquid was approved for use in food-contact paper and paperboard in January 2019.
There has been a rise in the need for Food Contact Papers, which are used extensively in the packaging of many different foods, including baked goods, candies, meats, snacks, and grain mill products. The need for environmentally friendly and long-lasting food packaging has boosted the market for paper food containers. The Food Contact Paper industry is expanding as a result of rising environmental consciousness and government measures to ban plastic and promote sustainable packaging options. Food Contact Paper is becoming increasingly popular worldwide as a result of expanding corporate initiatives to lessen its carbon footprint. In addition, the expansion of the online retail market has increased the need for food contact materials to package food and commodities.
Moreover, the Food Contact Paper industry has seen substantial growth as a result of rising consumer demand for both packaged and ready-to-eat foods and environmentally friendly packaging materials. Packaging made from biodegradable and recyclable materials has gained popularity as an alternative to single-use plastic. A sizable portion of the trash found in American landfills is from food service packaging. According to a study by the EPA, the two biggest contributors to American landfills are food scraps and packaging. Paper packaging is chosen over recyclable packaging since it decomposes naturally.
Geographically, the market is anticipated to have considerable market expansion, with the highest growth rate over the anticipated period. The market for Food Contact Paper is boosted by the expanding food and beverage sector as well as a regional ban on single-use plastics. Additionally, the growing population's increased demand for packaged food items is anticipated to fuel market expansion in the region. Furthermore, the demand for environmentally friendly and sustainable packaging solutions is rising in a number of Asian nations, which will raise the need for Food Contact Paper throughout the region.
The Global Food Contact Paper Market is Segmented as follows
- Kraft Paper
- Specialty Paper
- Recycled Paper
- Other Products
- Bakery & Confectionery
- Fresh Food
- Dairy Products
- Fast Food
- Baby Food
- Other Applications
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Food Contact Paper Market is
Mondi PLC, Westrock Company, Pudumjee Paper Products, Asian Pulp & Paper Company, Ahlstrom-Munksjö Oyj, BPM Inc., KRPA Holding CZ
The Global Food Contact Paper Market Scope can be Tabulated below
|Market Size Provided for Years||2016-2028|
|Regions & Counties Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|