July 20, 2024

Vegetable Parchment Paper is Expected to be Flourished by Rising Demand from Food Industry

Vegetable parchment paper is a cellulose-based paper made from cotton or wood pulp and is greaseproof, water-resistant and withstands heat. It is widely used in the food industry for packaging bakery and confectionery products, food wraps or separating and greaseproofing foodstuffs. It prevents foods from sticking to the paper and also allows moisture to pass through, keeping foods fresh. Common applications include baking sheets, pizza boxes, pan liners, cookie wrappers and wrapping sandwiches.

The global vegetable parchment paper market is estimated to be valued at US$ 1.33 Bn 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.

Market Dynamics

Rising demand for packaged food: The growth of the foodservice and food processing industries globally has led to increased demand for vegetable parchment paper as it is commonly used for food packaging applications. The paper offers excellent grease resistance and moisture barrier properties, ensuring packaged foods retain their aroma, texture and freshness. It also prevents indirect food contact surfaces like baking sheets from absorbing odors and flavors. Growing health consciousness and busy lifestyles have fueled the demand for convenient pre-packaged bakery and snack foods,propelling the vegetable parchment paper market.

Sustainability focus driving adoption: Vegetable parchment paper is increasingly gaining popularity as a more eco-friendly alternative to plastics for food packaging. It is biodegradable, compostable and recyclable. Manufacturers are promoting their paper products’ sustainability credentials to attract environmental conscious consumers and businesses. Regulatory support for non-plastic packaging further stimulates the use of vegetable parchment paper in the industry.

Segment Analysis

The vegetable parchment paper market is dominated by the food packaging sub-segment which holds around 60% market share. Food packaging application demands high quality parchment paper for processing, wrapping and packaging of various food items like sweets, snacks and bakery products as the paper does not affect food taste or quality and provides protection from moisture. The demand for vegetable parchment paper is high from food packaging industry as it is FDA approved for direct food contact.

PEST Analysis

  • Political: No significant political factors affect the market.
  • Economic: Rising disposable incomes and growing food processing industry drives the demand. Higher demand from food packaging companies boosts the market.
  • Social: Changing consumer tastes and preferences towards packaged and convenient food items increases the use of parchment paper in food packaging.
  • Technological: Advancements in paper processing technologies help manufacturers improve quality and produce customized parchment paper suited for various applications.

Key Takeaways

The global vegetable parchment paper market is expected to witness high growth over the forecast period of 2023 to 2030. Asia Pacific region dominates the market and is expected to maintain its leading position during the forecast years. China and India are the fastest growing markets in the region owing to expansion of food processing industries and rising income levels.

Regional analysis comprises
The Asia Pacific region accounts for around 40% share of the global vegetable parchment paper market led by China, India and other Southeast Asian countries. China and India are witnessing fastest growth on the back of robust economic growth, rising expenditure on convenience food and increasing number of quick service restaurants.

Key players
Key players operating in the vegetable parchment paper market are Co, Amol Paper Mills Pvt. Ltd, Kalpataru, Livriite Ventures, JK Paper, Black Label Paper Company, Nordic Paper, Tesco, 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 and Scan Holdings.