As stated in our extensive report; the Global Food Contact Paper Market accounted forUSD 69.2 Billionin the year 2021.
The Food Contact Paper market is to ascend rapidly in the estimated period as the top food and food service companies operating in the market globally choose printed and customized Food Contact Paper to improve the product appeal and market their product during the supply chain.
Increasing preference for aesthetic and the customized Food Contact Paper is anticipated to propel the market expansion extensively in the future.
Several food retail companies worldwide are developing their business strategies with the help of collaboration with online food service companies. This will generate a substantial need for food packaging solutions with Food Contact Paper. In addition, these retail food companies use Food Contact Paper as an efficient marketing tool. As a result, the worldwide Food Contact Paper market will show potential in the next few years.
Factors Influencing Global Food Contact Paper Market Growth
The growth of the Food Contact Paper global market can be attributable to the following:
- Intensifying demand for recyclable and biodegradable packaging and the mounting demand for ready-to-eat and packaged food drive the global Food Contact Paper market expansion.
- Rising initiatives by market players to reduce their carbon footprint will influence the implementation of Food Contact Paper worldwide.
- Various nations worldwide have already limited and banned the usage of single-use and lightweight plastic packaging products. This introduction of strict regulations and a ban on the utilization of single-use plastic generates enormous demand for packaging solutions that are recyclable yet sustainable.
- The market players use Food Contact Paper with new textures, eye-catching colors, graphics, and inventive designs to attract customers.
- The e-commerce sector was experiencing considerable market growth and is expected to continue the same over the forecast period. Online food foodservice players like Swiggy, UberEats, WHYQ, Foodpanda, and others are penetrating the market because of the changed eating habits and an extensive range of food items provided by food outlets on these online eCommerce platforms. They will likely fuel the market demand.
- Increasing awareness of the environment, the surge in the food service sector, and rising government initiatives to ban plastic packaging in many Asian countries will increase the demand for eco-friendly and sustainable packaging solutions. This is fueling the Food Contact Paper market in Asian countries.
On the other hand, the increase in market penetration by aluminum foil packaging might be a restraining factor and hamper the market growth.
North America Region to Take Over the Market
Geographically,North Americaholds the largest market share in theFood Contact Papermarket and will likely continue this trend in the coming years. InNorth America, there are vast numbers of fast-food outlets, bakeries, cafes, and restaurants that are the key end-users of Food Contact Paper packaging, which are significant factors driving the regional market. Moreover, the rapidly increasing number of fast food swerving chains inNorth Americanations is expected to stimulate regional market growth during the forecast period. Also, a rise in public awareness of green products in this region has augmented the pressure on companies to reduce their carbon footprint and use more eco-friendly materials. Along with this, government regulations favor using more biodegradable and eco-friendly packaging. All these factors will likely boost the market growth of this region.
As per Vantage Market Research, the ever-increasing demand for sustainable and eco-friendly food packaging has amplified the need for food paper packaging, positively impacting the overall Food Contact Paper market.
The well-known players of the Global Food Contact Paper Market include Mondi PLC, Westrock Company, Pudumjee Paper Products, Asian Pulp & Paper Company, Ahlstrom-Munksjö Oyj, BPM Inc., KRPA Holding CZ and others.