Global Food Wrapping Paper Market

Food Wrapping Paper Market Size, Share, Growth Analysis, By Product type(Plastic and Paper), By End use(Hotels, Restaurants, Cafes, Fast Food Outlets), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15H2013 | Region: Global | Published Date: July, 2024
Pages: 265 | Tables: 65 | Figures: 75

Food Wrapping Paper Market Regional Insights

Due to the growing popularity of fast food restaurant chains such as McDonald's, Domino's, KFC, BurgerKing, Pizza Hut, and others, Asia Pacific is expected to dominate the Food Wrapping Paper market. Furthermore, rising disposable income of middle-class households, as well as rising demand for convenience food, are expected to drive the regional market.

North America is expected to grow significantly due to the high demand for pizzas, burgers, sandwiches, hotdogs, and other fast foods. Because of increased demand for convenience foods, European countries are expected to grow favourably. Due to the increasing popularity of fast food, Latin America, the Middle East, and Africa are expected to show significant growth by the end of the forecast period.

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Food Wrapping Paper Market size was valued at USD 343.33 billion in 2019 and is poised to grow from USD 362.9 billion in 2023 to USD 562.3 billion by 2031, growing at a CAGR of 5.7% in the forecast period (2024-2031).

food wrapping paper market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Amcor plc', 'Berry Inc.', 'Mondi Group', 'Huhtamaki Oyj', 'Sealed Air Corporation', 'Reynolds Group Holdings Ltd.', 'Graphic Packaging International, LLC', 'Smurfit Kappa Group plc', 'WestRock Company', 'International Paper Company', 'DS Smith Plc', 'Uflex Limited', 'SCG Packaging Public Company Limited', 'BillerudKorsnäs AB', 'Sappi Limited', 'Nippon Paper Industries Co. Ltd.', 'Ahlstrom-Munksjö Oyj', 'Mitsubishi Paper Mills Limited', 'Michelman Inc.', 'Glatfelter Corporation'

The growing demand for sustainable food wrapping is one of the key factors driving the food wrapping paper market growth. Food service disposables, such as polystyrene and polypropylene food wrappers, are difficult to decompose and pollute the environment. Food wrapping solutions, such as compostable wrapping paper and eco-friendly products, are being developed by vendors. Paper wrapping has emerged as an environmentally friendly and cost-effective alternative to other materials such as metals and plastics. The increased restrictions on the use of plastic products, as well as the ban on single-use plastics, will increase demand for sustainable food packaging solutions such as food wrapping paper. A significant factor driving food wrapping demand is the growing demand for sustainable food packaging.

One of the key food wrapping paper market trends that is expected to positively impact the industry during the forecast period is the adoption of innovative and reusable materials for manufacturing food wrapping paper. Reusable packaging, such as reusable food wrapping paper, is becoming more popular. This rising demand can be attributed to factors such as the increased demand for sustainable packaging and a decrease in the use of plastic packaging. Reusable packaging is typically made of long-lasting materials. Beeswax wraps are a popular waterproof reusable food wrapping paper that can be reused after washing. It's popular for wrapping burgers, sandwiches, cheese, bread, fruits, and vegetables. One of the critical food wrapping paper market trends that will have a positive impact on market growth is the growing popularity of reusable food wrapping paper.

Due to the growing popularity of fast food restaurant chains such as McDonald's, Domino's, KFC, BurgerKing, Pizza Hut, and others, Asia Pacific is expected to dominate the Food Wrapping Paper market. Furthermore, rising disposable income of middle-class households, as well as rising demand for convenience food, are expected to drive the regional market.

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Global Food Wrapping Paper Market

Report ID: SQMIG15H2013

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