LONDON--(BUSINESS WIRE)--The global food wrapping paper market is expected to post a CAGR of about 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Foodservice disposables such as food wrappers made from polystyrene and polypropylene are hard to decompose and cause environmental pollution. This has induced market vendors to develop food packaging solutions such as food wrapping paper which are made from compostable raw materials and eco-friendly products. Paper packaging has emerged as an eco-friendly and economical form of packaging as it is easier to recycle when compared to other materials such as metals and plastics. The rising limitations on the use of plastic products and the ban on single-use plastics will further boost the demand for sustainable food packaging solutions such as food wrapping paper. The growing demand for sustainable food packaging is a significant factor responsible for driving food wrapping paper market growth.
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As per Technavio, the increasing 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 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Food Wrapping Paper Market: Increasing popularity of reusable food wrapping paper
The demand for reusable packaging such as reusable food wrapping paper is increasing. This rising demand can be attributed to factors such as the rising need for sustainable packaging and reduction in the use of plastic packaging. Reusable packaging is generally made from durable materials. Beeswax wraps is a popular reusable food wrapping paper which is waterproof and can be reused after washing. It is widely used to wrap burgers, sandwiches, cheese, bread, fruits and vegetables. Thus, the growing popularity of reusable food wrapping paper will be one of the critical food wrapping paper market trends which will have a positive influence on the growth of the market.
“Apart from the increasing popularity of reusable food wrapping paper, the rise of fast food industry and the increase in food delivery and takeaway sector are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Food Wrapping Paper Market: Segmentation Analysis
This market research report segments the global food wrapping paper market by type (Kraft paper, greaseproof paper, and coated paper) and geographical regions (North America, Europe, APAC, South America, and MEA).
The North American region led the market in 2018, followed by Europe, APAC, MEA, and South America respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market due to factors such as the changing lifestyle of consumers, increasing consumption of fast food and packaged foods, and an increasing number of fast food chains in the region.
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Some of the key topics covered in the report include:
- 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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