Food Contact Paper and Board Market Report 2024-2032

BROOKLYN, NY, USA, February 21, 2024 /EINPresswire.com/ -- The latest report by IMARC Group,“Food Contact Paper and Board Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on the global market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

How big is the food contact paper and board market?

The global food contact paper and board market size reached US$ 61.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 96.1 Billion by 2032, exhibiting a growth rate (CAGR) of 5.05% during 2024-2032.

Global Food Contact Paper and Board Market Trends:

The growing trend of online food delivery services and takeaway orders is contributing to the market growth. With the rise of e-commerce platforms and mobile apps, there's a surge in demand for packaging solutions that ensure food safety, convenience, and hygiene during transportation and delivery processes, aiding in market expansion. Furthermore, the increasing emphasis on product differentiation and branding strategies among food manufacturers is propelling the market growth, as customizable paper and board packaging options allow companies to create unique packaging designs, thereby enhancing brand visibility and consumer engagement.

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Factors Affecting the Growth of the Food Contact Paper and Board Industry:

Regulatory compliance:

Governments worldwide impose stringent regulations and standards to ensure the safety of food packaging materials. These regulations encompass various aspects such as material composition, manufacturing processes, and migration limits of harmful substances into food. Compliance with regulations like the U.S. Food and Drug Administration (FDA) regulations in the United States or the European Union's Framework Regulation (EC) No 1935/2004 is imperative for manufacturers operating in this sector. As a result, companies invest significantly in research and development (R&D) to create food contact materials that meet or exceed these regulatory requirements, driving innovation and advancement in the market.

Shifting consumer preferences:

With increasing awareness regarding health and environmental concerns, consumers are increasingly seeking food packaging materials that are perceived as safe, sustainable, and environmentally friendly. As a result, there is a growing demand for paper and board packaging over traditional materials like plastic. Paper and board offer several advantages, including recyclability, biodegradability, and the perception of being safer for food contact. Moreover, consumers are more inclined towards products that use minimal or no chemical additives in their manufacturing process. This shift in consumer preferences has led to a surge in the adoption of food contact paper and board packaging solutions, creating a positive outlook for market expansion.

Sustainability initiatives:

Businesses across the supply chain are increasingly adopting sustainable practices to minimize their environmental footprint. Paper and board materials derived from renewable resources such as wood pulp are inherently more sustainable compared to petroleum-based plastics. Furthermore, advancements in technology have enabled the development of innovative eco-friendly coatings and treatments that enhance the performance and barrier properties of paper and board packaging, making them suitable for a wider range of food products. Additionally, initiatives such as corporate sustainability goals, circular economy initiatives, and government mandates promoting the use of sustainable packaging are further propelling the demand for food contact paper and board solutions.

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Anchor Packaging Inc.
• Ball Corporation
• Bischof + Klein SE & Co. KG
• Georgia-Pacific LLC
• Huhtamäki Oyj
• Huntsman Corporation
• International Paper Company
• Intertek Group
• Mondi Plc.
• Nippon Paper Group
• Sonoco Products

Food Contact Paper and Board Market Report Segmentation:

By Type:

• Non-Poly Coated and Board
• Poly Coated and Board

Non-poly coated and board represents the largest market segment due to the increasing demand for eco-friendly and sustainable packaging solutions.

By Paper Weight:

• Up to 30 GSM
• Between 30-50 GSM
• Above 50 GSM

Up to 30 GSM dominates the market owing to its suitability for lightweight packaging applications and cost-effectiveness.

By Product Type:

• Corrugated and Folding Cartons
• Kraft Paper
• Wrapping Paper
• Others

Kraft paper accounts for the majority of the market share because of its strength, versatility, and perceived environmental friendliness.

By Application:

• Bakery Products
• Dry Groceries
• Ready Meals
• Non-liquid Dairy Products
• Others

Bakery products hold the largest market share due to the extensive use of paper and board packaging for items like bread, pastries, and cakes.

By End-Use Sector:

• Hotels and Restaurants
• Bakeries and Cafes
• Fast Food Joints
• Cinema Halls
• Others

Fast food joints represent the biggest end-use sector as they heavily rely on paper and board packaging for takeaway and delivery services.

Regional Insights:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

North America leads the market due to stringent regulations promoting food safety, coupled with consumer preference for sustainable packaging options in the region.

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Key Highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us                                    

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
+ +1 631-791-1145
email us here

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