The global market for greaseproof paper was valued at approximately US$ 1.27 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 5.5%, reaching an estimated US$ 2.1 billion by the conclusion of 2033.
Greaseproof paper plays a significant role in food storage and packaging. Its unique formulation allows it to repel grease, making it ideal for the extended preservation of various food items. The demand for greaseproof paper is anticipated to rise in the coming years, driven by the increasing requirements of the food packaging industry. Additionally, greaseproof paper is regarded as a cost-effective alternative to traditional baking paper.
Greaseproof paper plays a significant role in food storage and packaging. Its unique formulation allows it to repel grease, making it ideal for the extended preservation of various food items. The demand for greaseproof paper is anticipated to rise in the coming years, driven by the increasing requirements of the food packaging industry. Additionally, greaseproof paper is regarded as a cost-effective alternative to traditional baking paper.
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Despite the pandemic, the food packaging sector did not face any major setback, while on the contrary, the demand for packaged food increased through online delivery platforms. The situation can be considered as a blessing in disguise as it presented an opportunity for packaging material manufacturers to expand their capacities to meet the surging demand while considering the requirements of ends users.
Key Takeaways from Market Study:
- The global greaseproof paper market is envisioned to inflate at 5.5% CAGR and reach US$ 2.1 billion by 2033.
- The market experienced a growth rate of 3.5% from 2018 to 2022.
- Under product type, bleached paper accounted for US$ 710 million in valuation in 2022.
- East Asia dominated the global market with 25.5% share in 2022.
- Fluorocarbon-free greaseproof paper held 38.6% market share in 2022.
- Demand for greaseproof paper is estimated to increase at CAGRs of 3.9% and 3.5% in East Asia and North America, respectively.
Competitive Landscape
The foremost producers of greaseproof paper globally are utilizing sustainable technologies and cost-effective systems to cater to diverse clients within the food packaging sector. These prominent manufacturers are dedicated to creating environmentally friendly products that enhance the longevity of food storage.
Major strategies adopted by manufacturers are :
In September 2022, Nordic Paper, a prominent producer of natural greaseproof paper, received certification for the manufacture of specialty products designed for easy degradation in both industrial and home composting environments. In May 2021, Ahlstrom-Munksjö introduced a new product line tailored for the North American market, featuring silicone high-density greaseproof paper that caters to both professional and novice bakers.
Additionally, the rise in environmental regulations is driving manufacturers to pursue material innovations to ensure their packaging solutions are environmentally friendly. Consequently, significant investments are being made in research and development to create advanced materials suitable for food packaging.
Source: https://www.globenewswire.com/news-release/2023/02/01/2600078/0/en/Greaseproof-Paper-Manufacturers-will-Get-Abundant-Opportunities-Due-to-Growing-Use-of-Flexible-Packaging-States-Fact-MR.html
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