The global parchment paper market is expected to attain a valuation of USD 1,064.2 million in 2023 and is projected to reach USD 1,789 million by 2033. The market is projected to expand at a CAGR of 5.7%.
An increase in consumer preference toward products that provide easy clean-up and easy transfer features during the cooking process is one of the major factors driving the market growth. Also, the rise in consumer habits to spend more in bakeries and restaurants is further enhancing product demand.
Growing penetration in the consumer demand for convenience products is positively influencing the market growth. In addition, growing applications of vegetable parchment paper, and a surge in demand for parchment papers are fuelling product demand.
The accelerating demand for hygienic products due to rising health awareness among consumers are other factors stimulating growth in the market. Furthermore, the trend of modernization and growing diversity in the use of parchment paper in various end-user industries will further create new opportunities for market expansion.
Also, massive demand for greaseproof paper in baking and packaging is expected to boost product sales. Rising trend of packaged foods along with technological developments in the packaging industry is further anticipated to drive revenue growth in the industry.
The highly hygienic and heat resistant nature of greaseproof paper is boosting their scope in a broad range of applications. This is estimated to contribute to the growth of overall market in the forecast period.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 1,064.2 million |
| Anticipated Forecast Value (2033) | USD 1,789 million |
| Projected Growth Rate (2023 to 2033) | CAGR of 5.7% |
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The market for parchment paper was worth USD 883.0 million in 2018. It accumulated a market value of USD 1,008.7 million in 2022 while growing at a CAGR of 3.5% from 2018 to 2022.
The rising inclination of restaurants, bakeries, and food delivery services toward adopting biodegradable material as their packaging solution is changing the demand outlook of the market. Vendors are leveraging the use of parchment paper due to the implementation of stringent environmental laws, especially on the usage of plastic and other non-biodegradable materials.
Various restaurants are leveraging the use of parchment paper as their marketing and brand promotion tool by printing their logos on these papers. The growing use of parchment paper as a fancy and convenient packaging style is expected to transform growth outlook of the market.
Parchment baking paper has emerged as a perfect alternative to clamshell packaging. To cut the transportation cost, manufacturers are working towards cutting down the use of clamshell as a primary source of packaging. This trend is predicted to continue for the next ten years, presenting a favorable environment for the growth of parch paper sales.
After a comprehensive analysis of above-mentioned factors, the revenue growth of parchment paper market is projected to be worth USD 1,789 million by end of the forecast period, while exhibiting a CAGR of 5.7%.
Eco-friendliness of parchment paper expected to proliferate product sales
The wide use of these papers in food service wraps and laminating with other materials where paper forms one layer in composite packaging is expected to drive its product demand.
Parchment papers can be used in microwaves, are biodegradable, and recyclable in nature which makes them a suitable packaging solution. The bakery industry is also expected to make good use of parchment papers. The eco-friendliness and cost-effective characteristics make it a more viable option as a packaging solution. They do not have any adverse effect on food quality and health which is expected to propel its sales in the coming years.
According to Central Pollution Control Board, more than 4 million tons of garbage is disposed of every day, out of which around 15% comprises plastics. Plastics are estimated to be responsible for over 20% of the entire pollution in the next 25 years, as compared to an estimated 7% currently. These factors are anticipated to pave the way for biodegradable and recyclable options like parchment paper, which in turn is expected to drive market growth.
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Rising cost and environmental risks might restrain market growth
The high cost of parchment paper makes it difficult to be used daily by consumers. Increasing the manufacturing of paper results may result in deforestation and negatively affects the environment. These factors are expected to restrain market expansion over the forecast period.
North America to dominate the market with maximum share
North America accounted for 23.1% of revenue share in 2022, in the parchment paper market. The region is projected to accumulate a 24.2% market share by end of 2023. The market in this region is further expected to command over 36% market share by end of the forecast period.
The growth is attributed to factors such as thriving packaging industry, rising popularity and demand for packaged foods, and rising investment in the food & beverage sector.
The implementation of strict food safety norms is expected to boost the market for safe and hygienic food packaging solutions such as unbleached parchment paper. Unbleached paper is mostly used for wrapping food products like burgers, bakery & confectionery products in this region.
Many end users in this region are opting for parchment paper while transporting food products, as this paper retains food quality and keeps the product intact for a longer duration. Thus, parchment paper has become the most favored choice for transporting confectionary products in bulk across the continent.
The United States is anticipated to accumulate over 72% of North American market by the end of 2033. Increasing bakery sales and other confectionary products are leading to increased consumption of parchment paper which is driving growth in the region.
Extensive Deployment expected in the Foodservice Packaging Industry
India is expected to hold a significant market share of over 25% by end of the forecast period. Increasing population and rising consumption of packaged food in India are expected to be the driving wheels for the market.
Sales in India are expected to proliferate at a high pace, backed by the expansion of food service industry at a fast pace. Along with this, increasing focus on sustainable packaging solutions is expected to remain a chief growth driving factor.
The growing demand for convenience products from end-use industries like baking and confectionery is expected to fuel product sales across the country. The production of food services products in this country is witnessing ever-increasing growth, which is sculpting the demand for paper packaging solutions such as parchment papers.
Also, prominent food and food services players across the country are embracing the transitional change from clamshell products to parchment paper which is sustainable to reduce carbon footprint.
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Unbleached Parchment Paper leading the segment with the Maximum Share
The Unbleached parchment paper accounted for 51.9% of revenue share in 2022. It is anticipated to account for 53.1% market share in 2023. It is further expected to retain its trend of dominance by accumulating over 72% market share by end of the forecast period.
The growth is attributed to the rising preference for unbleached parchment paper in the market. A little to no presence of fluorochemicals in this paper is driving its use.
Strict rules are being followed on the use of bleached paper in food packaging industry to reduce the cases of food poisoning. This might restrict sales of bleached parchment paper and boost the sales of unbleached parchment paper in the coming years.
Also, bleached paper, if exposed to sunlight reacts with fluorochemicals present on paper with ultraviolet light. It could also leave chemical traces on food products which can cause food poisoning. Considering these factors, usage of unbleached parchment paper is projected to grow with a CAGR of 6.4% during from 2023 to 2033.
Ready-to-eat meals leading the segment with maximum share
The ready-to-eat meals segment dominated the market by end-use by accumulating over 32.5% revenue share in 2022. An increase in purchasing power of middle-class families, especially in emerging economies is expected to garner over 40% market share by end of the projection period. The high consumption of bakeries and confectionaries in mature markets of North America and Europe is responsible for the segment’s growth.
Start-ups help in determining future growth opportunities in any market. These new entities have the potential to generate high returns which directly benefits the expansion of any industry.
These start-ups are typically more productive at transforming inputs into outputs with more flexibility and adaptability in nature, ability to shift quickly in response to volatile market conditions. Some of the start-ups that will fuel the expansion of the parchment paper market are:
The parchment paper market is extremely competitive and consists of various key industry players. These players are heavily investing in manufacturing parchment paper.
The key industry players are: Georgia-Pacific Corp., JK Paper, Ahlstrom Munksjo Oyj., Delfort Group AG, METSA Tissue, McNarin Packaging, KALPATARU Papers LLP, Pudumjee Paper Products, Awa Paper and Technological Co. Inc., Cosmoplast, Nordic Paper AS, The GRIFF Network, KRPA Paper AS.
Some recent developments in the market are:
Key market players are leveraging on inorganic growth strategies like acquisition, mergers, partnerships, and collaboration in order to enhance their product portfolio. This is expected to fuel the global Parchment Paper Market.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 1,064.2 million |
| Market Value in 2033 | USD 1,789 million |
| Growth Rate | CAGR of 5.7% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product, Basis Weight, End Use, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Georgia-Pacific Corp.; KALPATARU Papers LLP; Pudumjee Paper Products; JK Paper; Ahlstrom Munksjo Oyj.; Delfort Group AG; METSA Tissue; McNarin Packaging; Awa Paper and Technological Co. Inc.; Cosmoplast; Nordic Paper AS; The GRIFF Network; KRPA Paper AS |
| Customization | Available Upon Request |
The market in 2023 is valued at USD 1,064.2 million
The market rose at a 3.5% CAGR from 2018 to 2022.
Unbleached parchment paper remains most preferred.
By 2033, the market will expand at a 5.7% CAGR.
Georgia-Pacific Corp., KALPATARU Papers LLP and Pudumjee Paper Products are some key players.
1. Executive Summary | Parchment Paper Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Bleached Parchment Paper 5.2. Unbleached Parchment Paper 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Basis Weight 6.1. Less than 40 GSM 6.2. 41 to 60 GSM 6.3. 61 to 80 GSM 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Bakery and Confectionary 7.2. Ready-to-Eat Meals 7.3. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 8.1. Hypermarkets 8.2. Supermarkets 8.3. Specialty Stores 8.4. Online Stores 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. MEA 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Georgia-Pacific Corp. 17.2. KALPATARU Papers LLP 17.3. Pudumjee Paper Products 17.4. JK Paper 17.5. Ahlstrom Munksjo Oyj 17.6. Delfort Group AG 17.7. METSA Tissue 17.8. McNarin Packaging 17.9. Awa Paper and Technological Co. Inc. 17.10. Cosmoplast 17.11. Nordic Paper AS 17.12. The GRIFF Network 17.13. KRPA Paper AS 18. Assumptions & Acronyms Used 19. Research Methodology
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Parchment Paper Market
