LONDON--(BUSINESS WIRE)--The food contact paper market size is poised to grow at a CAGR of about 8% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Aluminum and plastic packaging products can have adverse effects on the environment, leading to the demand for eco-friendly and sustainable packaging solutions such as food contact papers. Moreover, plastic and aluminum products generate more waste per product than traditional paper products. For instance, the degrading time for aluminum spans over 100 years. Paper boxes, which are made from highly durable paper, are environment-friendly and a sustainable packaging solution. High recyclability and sustainable properties of food contact paper also increase their preference from the packaging industry. Moreover, food contact paper products that are made from recycled materials further reduce the cost of packaging. Thus, the growing adoption of sustainable packaging will drive the growth of the food contact paper market during the forecast period.
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As per Technavio, the increasing demand for lightweight materials will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Food Contact Paper Market: Increasing Demand for Lightweight Materials
The demand for lightweight materials for packing food and beverages is one of the significant trends in the market. Vendors are developing lightweight and high-performance paper grades to reduce cost, improve performance, and stay compliant. Low material consumption during the manufacturing process and high shipping efficiency of lightweight packaging products reduce costs. Also, low material consumption during manufacturing reduces the environmental impact during the entire process. Thus, the increasing demand for lightweight materials will drive the food contact paper market growth during the forecast period.
“Other factors such as the increased use of recycled fibers, and developments in food and beverage packaging will have a significant impact on the growth of the food contact paper market value during the forecast period,” says a senior analyst at Technavio.
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Food Contact Paper Market: Segmentation Analysis
This market research report segments the food contact paper market by type (non-poly coated and poly-coated) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by Europe, North America, South America, and MEA, respectively. The growth of the food contact paper market share in APAC can be attributed to several factors such as the increase in disposable income and the growing demand for functional and packaged food products 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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