by Vegetable parchment paper is a non-porous paper derived from the vegetable fibers and processed for various food contact applications. It is used as an alternative to aluminum foil or wax paper, commonly used for food wrapping and baking applications. Vegetable parchment provides moisture barrier properties and has a smooth finish. It is safe for direct food contact, tasteless, and odorless. The paper is widely used for baking applications such as wrappers for baked goods, casseroles, and desserts. It prevents food from sticking and allows easy lifting and handling of baked items. The global vegetable parchment paper market is estimated to be valued at US$ 1.33 billion in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The global vegetable parchment paper market is driven by increasing demand from the food industry. Vegetable parchment paper is widely used as baking paper and cooking paper in frozen and packaged food production. Rising consumption of packaged and ready-to-eat food items is fueling the demand for vegetable parchment paper globally. Manufacturers are focusing on producing sustainable and eco-friendly product offerings to capitalize on the growing consumption of green products. This is expected to present lucrative opportunities for vegetable parchment paper market over the forecast period.
Market Dynamics:
Increasing demand from the food industry is one of the key drivers expected to augment the growth of the vegetable parchment paper market over the forecast period. Vegetable parchment paper provides heat resistance and prevents sticking during baking applications. The paper is widely used as a freezer paper, deli paper, and bubble wrap paper in frozen food packaging. Growing global frozen food industry is fueling the demand for vegetable parchment paper packaging materials. Vegetable parchment paper also replaces plastic films in various food packaging applications owing to rising environmental concerns regarding plastic pollution. This is expected to propel the vegetable parchment paper market growth during the forecast period. Manufacturers are developing eco-friendly and biodegradable parchment paper through sustainable raw material sources and production processes. Innovation in product offerings catering to greener packaging needs of end-use industries will support the market expansion over the coming years.
Segment Analysis
The vegetable parchment paper market is dominated by the bakery segment which holds around 35% share of the total market. Vegetable parchment paper is widely used in bakery applications such as baking, food packaging, sandwiches etc. due to its moisture resistant and non-stick properties which prevent food from sticking on the paper. It is also used as a grease proof paper which allows oil and fat to easily move around food items without soaking into the paper.
PEST Analysis
- Political: There are no major political risks affecting the vegetable parchment paper market.
- Economic: The growing food industry along with rising disposable incomes is driving the use of vegetable parchment paper in food packaging and bakery applications. Asia Pacific region is experiencing strong economic growth and witnessing higher consumption of ready-to-eat food items packaged using these papers.
- Social: Changing lifestyle and busy schedules have increased the demand for convenience food and ready-to-eat meals which require the use of parchment paper for packaging. Also, rising health consciousness is favoring the use of natural greaseproof papers over polymeric ones.
- Technological: Players are focusing on developing organic and eco-friendly vegetable parchment papers using sustainable raw materials through various technological innovations to cater to the rising demand for sustainable packaging solutions.
Key Takeaways
The global vegetable parchment paper market is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: The Asia Pacific region dominates the global market and is expected to grow at the fastest pace during the forecast period. Countries like China, India have the largest bakery and confectionery industries which drives the demand for vegetable parchment paper in the region. Asia Pacific accounts for around 40% of the global market share due to high consumption of packaged food items.
Key players operating in the vegetable parchment paper market are Amol Paper Mills Pvt. Ltd, Kalpataru, Livriite Ventures, JK Paper, Black Label Paper Company, Nordic Paper, Ahlstrom-Munksjö, Pudumjee Paper Products, Shaoxing Tianming PaperIndustry CO.,LTD, Sunrise Papers., Rockdude Impex Pvt. Ltd., Kraft Interactions., Taian Baichuan Paper KK, McNairn Packaging., COREX Group. Key players are focusing on expanding their production capacities and geographic footprint to leverage market opportunities.
