Acumen Research and Consulting, a global provider of market research studies, in a latest published report titled “Greaseproof Paper Market (Type: Packaging Paper, Baking Paper; Application: Residential Use, Commercial Use) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2025”, estimates that global greaseproof paper market is expected to reach the market value of around $1.1 billion by 2025 and is anticipated to grow at a CAGR of around 7.5% in terms of revenue during the forecasting period 2018 - 2025. The demand for greaseproof paper has steeply risen with booming residential and commercial applications. Residential and commercial applications of greaseproof paper are on rise owing to the developing economic condition and elevating spending capacity. Utilization of greaseproof paper in bundling, wrapping, and heating of food products is a central point that is estimated to contribute to market growth globally. Over the last few decades, the greaseproof paper market has extensively grown both as far as usage and product development. However, the industry faces a few difficulties in new item advancement, item endorsement, and institutionalization. Also, rising consumption levels of bakery paper & allied products such as containers, bowls, plate, and so on from bread stores and bistros has, to a great extent, driven the worldwide greaseproof paper market and is anticipated to continue its pace through the forecasting time frame. Additionally, expanded customer tendency towards packaging products that add towards easy clean-up and cooking through the baking process has provided secondary growth in the global greaseproof paper market. Improving lifestyle combined with better financial prospects in emerged economies has pushed the customer spending on optional merchandise.
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Asia-Pacific Acquired Largest Market Share In Terms Revenue And Consumption In 2017
The demand for greaseproof paper is expected to increase in Asia-Pacific due to increasing investments in food industry and rising disposable income. China accounted for the largest market share in Asia-Pacific greaseproof paper market due to its large population, emerging economic conditions, and rise in foreign trade in the country. In addition, manufacturers are expanding their business in other developing Asian countries including India and Vietnam where market penetration is low but is expected to grow at high rate during the forecast period. The European region is expected to be the largest market for greaseproof paper due to high penetration of consumer demanding convenience products in this region. Brazil accounted for the major market share in the South American greaseproof paper market because of the well-established food industry in the region. Brazil is the key producers and exporters of variety of food products including juices, sugar, seafood, meat, as well as fats & oils. Thus, there was continuous demand for greaseproof paper in Brazil in 2015 and the trend is expected to continue during forecast period. Also, other countries including Argentina, Peru, and Chile accounted for significant market share owing to developing infrastructure and growing economies in these regions.
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Global greaseproof paper market is segmented by type, application and geography. Based on different types, the market is segmented into packaging paper and baking paper. Also, by application, greaseproof paper is bifurcated into residential use, commercial use. Based on geography market is further classified into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
The greaseproof paper is used by people for baking, cooking, and packaging of food. It provides evenly baking of cookies & cake, and also helps to avoid cracking or breaking when lifting them off the sheet. Greaseproof paper is also the perfect wrapper for baked goods. In addition, baking fish in a greaseproof packet helps to keep it more moisturized and build flavor. The greaseproof paper is largely used in residential applications in developed region as compared to developing countries. However, emerging economies and growing disposable income in developing countries is expected to propel the usage of greaseproof paper for residential applications. In commercial segment, greaseproof paper is used in restaurants for packaging, cooking, baking, catering, and transportation. Following are few commercial applications of greaseproof paper:
The growth of food industry in both developed and developing region is a major factor expected to drive the market growth. Also, demand for fast food and bakery products is rising, which is another major factor responsible for the market growth.
The major players profiled in the report include Krpa Paper, Nordic Paper, VICAT GROUP, Dispapali, Cheever Specialty Paper, Delfortgroup, Hydon Paper, Simpac, Paramount Packaging, Pudumjee Group, and others.
There are lots of opportunities in the greaseproof paper market for the new participants to open new manufacturing facilities in the rising economies such as India, China, Brazil, etc. where penetration is low and is projected to increase several folds through the forecasting time frame.
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