Food Contact Paper Global Market Report 2023

Mar 19, 2024

Major players in the food contact paper market are Mondi PLC., Westrock Company, Pudumjee Paper Products Ltd., Asia Pulp & Paper Group, Ahlstrom- Munksjo Oyj, Twin Rivers Paper Company, Gascogne Group, Georgia-Pacific LLC, Glatfelter Corp, International Paper Co.

New York, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Food Contact Paper Global Market Report 2023" - https://www.reportlinker.com/p06479978/?utm_source=GNW , Maesindo Indonesia Ltd., Malex Paper Products Sdn Bhd, SCG Packaging, Nordic Paper AS, Pactiv Evergreen Inc., Papertec Inc. and Quick Pack Pacific Co. Ltd.The global food contact paper market is expected to grow from $68.99 billion in 2022 to $71.55 billion in 2023 at a compound annual growth rate (CAGR) of 3.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The food contact paper market is expected to reach $84.03 billion in 2027 at a CAGR of 4.1%.The food contact paper market consists of sales of corrugated board, solid bleached sulfate (SBS) paperboard, and coated paper.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Food contact paper is a form of food packaging material that comes into contact with food to expedite transportation, avoid contamination, and extend the shelf life of packed food items. This type of food packaging paper has barrier qualities, heat retention, and moisture emissivity, all of which contribute to increased food safety.North America was the largest region in the food contact paper market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of food contact papers are poly coated and non-poly coated.Poly-coated paper refers to a type of paper that has been coated with a layer of polyethylene to provide a barrier against moisture and grease and is commonly used for packaging food products such as take-out containers, paper cups, and fast-food wrappers.They are made with materials such as kraft paper, specialty paper, recycled paper, and other materials for applications in bakery and confectionery, fresh food, dairy products, fast food, baby food, and other applications.Rising demand for bakery products is expected to propel the growth of the food contact paper market in the coming future.Bakery products refer to a wide range of food items that are baked in an oven, such as bread, cakes, pastries, cookies, muffins, croissants, and bagels.The bakery industry is one of the major users of food contact paper, as bakery products like bread, cakes, pastries, and cookies require proper packaging to maintain their freshness and quality. For instance, in January 2023, according to the report published by Agriculture and Agri-Food Canada, a department of the Government of Canada, the value of bread and bakery food products imported by Mexico from around the world in 2021 amounted to $198.5 million, with an accompanying import volume of 72.1 thousand metric tons. The primary suppliers to Mexico were the United States, accounting for 79.2% of the market share ($157.2 million), followed by Canada at 4.7% ($9.4 million). Notably, Canada emerged as the second-largest import market for Mexico, with a significant growth rate of 25.0% between 2017 and 2021. Therefore, the rising demand for bakery products is driving the food contact paper market.Sustainable and innovative packaging is a key trend gaining popularity in the consumer and food contact paper markets.Major companies operating in the food contact paper market are focused on developing sustainable and innovative packaging solutions for fresh food products to strengthen their position in the market.For instance, in April 2023, Novolex, a US-based manufacturer of packaging products, launched Power Prep, a new line of laminated insulated packaging for fresh food.Novolex’s Power Prep uses non-fluorinated oil-and-grease-resistant paper that is laminated with a honeycomb pattern to create an insulated layer.The packaging is also more puncture-resistant than traditional foil or foil/paper structures and features anti-curling capabilities to allow for flat sheeting when assembling food products at scale.In September 2021, Huhtamaki, a Finnish food packaging company, acquired Elif Holding AS for $422 million.Through this acquisition, Huhtamaki aims to solidify its position as a prominent player in the flexible packaging market in emerging economies while also enhancing its current flexible packaging portfolio in highly sought-after consumer goods segments.Elif Holding AS is a Turkish flexible packaging company involved in manufacturing food packaging paper and films.The countries covered in the food contact paper market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The food contact paper market research report is one of a series of new reports that provides food contact paper market statistics, including food contact paper industry global market size, regional shares, competitors with a food contact paper market share, detailed food contact paper market segments, market trends and opportunities, and any further data you may need to thrive in the food contact paper industry. This food contact paper market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.Read the full report: https://www.reportlinker.com/p06479978/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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