LONDON--(BUSINESS WIRE)--Jul 11, 2019--
The global food wrapping paper market is expected to post a CAGR close to 4% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has released a new market research report on the global food wrapping paper market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the growing demand for sustainable food packaging. There have been environmental concerns regarding the usage of various products such as polystyrene and polypropylene for the manufacture of foodservice disposables such as food wrappers. These materials take a long time to decompose, which results in environmental pollution. Due to these issues, vendors are developing food packaging solutions that make use of compostable raw materials and eco-friendly products during the manufacturing process. This has resulted in the increased demand for paper-based packaging products such as food wrapping papers. Moreover, recent bans on all single-use plastics are likely to further fuel market growth during the forecast period.
As per Technavio, the growing popularity of reusable food wrapping paper will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global food wrapping paper market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global food wrapping paper market: Growing popularity of reusable food wrapping paper
The rise in need for sustainable packaging and the reduction in the use of plastic packaging have led to an increase in the demand for reusable packaging such as reusable food wrapping paper. Beeswax wraps are one of the most commonly used reusable food wrapping papers. The waxy coating in beeswax wraps makes the wrapping paper waterproof. These wraps can be reused by washing with gentle soap and cool water and then letting them air dry. After using them for a long time, the wraps can be cut into strips to compost. Beeswax wraps can be used for wrapping burgers, sandwiches, cheese, bread, and fruits and vegetables. Therefore, the rise in the availability of reusable food wrapping paper will help in fueling the market growth of food wrapping paper during the forecast period.
“Apart from the growing popularity of reusable food wrapping paper, the adoption of innovative materials for the manufacture of food wrapping paper are some other major aspects boosting the growth of the global market,” says a senior analyst at Technavio.
Global food wrapping paper market: Segmentation analysis
This market research report segments the global food wrapping paper market by type (kraft paper, grease proof paper and coated paper) and geographical regions (North America, Europe, APAC, MEA and South America).
The North American region led the market in 2018, followed by Europe, APAC, MEA and South America respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the increase in the number of hotels, restaurants, and other food service establishments in the region.
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- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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INDUSTRY KEYWORD: PACKAGING MANUFACTURING
SOURCE: Technavio Research
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PUB: 07/11/2019 08:00 AM/DISC: 07/11/2019 08:00 AM