Food Wrapping Paper Market Size, Share, Growth Analysis, By Product Type, By End-Use, By Region - Industry Forecast 2024-2031

Global Food Wrapping Paper Market size was valued at USD 343.33 billion in 2022 and is poised to grow from USD 362.9 billion in 2023 to USD 562.3 billion by 2031, growing at a CAGR of 5.7% in the forecast period (2024-2031).

The food packaging wrapping paper market is experiencing growth driven by the increasing demand for convenience in food service, including fast food and on-the-go options. Utilizing materials like kraft paper, greaseproof, and biodegradable options, these wrapping solutions cater to hygiene and easy handling, with variations in thickness from 8 to over 20 microns. The rise of digitalization among foodservice suppliers, coupled with urban population growth in the U.S., is propelling the consumption of packaged foods and single-serve products. Additionally, the emphasis on brand image through packaging is enhancing market value. However, challenges like raw material price volatility and waste management concerns may impede growth. Expanding recycling infrastructure and consumer preferences for healthy options are supportive factors for the market.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Food Wrapping Paper market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Food Wrapping Paper Market Segmental Analysis

Global Food Wrapping Paper Market is segmented by Product Type, End-Use and Region. Based on Product Type, the market is segmented into Plastic Foil, Aluminum Foil, Paper. Based on End-Use, the market is segmented into Hotels, Restaurants, Cafes, Fast Food Outlets, Cinema, Airlines & Railway Catering, Institutions, Others. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Food Wrapping Paper Market

The global food wrapping paper market is primarily driven by the increasing need for sustainable food packaging solutions. As concerns about environmental pollution from traditional materials like polystyrene and polypropylene grow, the demand for eco-friendly alternatives is rising. Vendors are responding by developing compostable wrapping papers and other environmentally responsible products. Paper wrapping has gained traction as a viable, cost-effective substitute for metal and plastic options, especially in light of stricter regulations and bans on single-use plastics. Consequently, the shift towards sustainable practices and the quest for greener food wrapping solutions significantly propel the market forward.

Restraints in the Global Food Wrapping Paper Market

The global food wrapping paper market faces significant challenges primarily due to the volatility in raw material prices. The cost of essential materials, such as kraft paper produced from unbleached pulp, has seen a notable increase; the producer price index (PPI) for pulp, paper, and related products rose from 195.4 in May 2019 to 220.57 in May 2020. Consequently, several manufacturers have had to implement price hikes. For instance, Sappi Europe announced a price increase of 7%-11% for their packaging and specialty papers effective April 2021, while Lecta Ltd. raised their prices by 8%-10% per ton for various paper grades in July 2021. These escalating costs pose a significant restraint on market growth prospects during the forecast period.

Market Trends of the Global Food Wrapping Paper Market

The Global Food Wrapping Paper market is witnessing a significant trend towards the adoption of innovative, sustainable, and reusable materials, an evolution driven by growing consumer awareness regarding environmental issues. The shift away from single-use plastics is fostering demand for eco-friendly alternatives like beeswax wraps, which offer durability and versatility for wrapping a variety of food items, from sandwiches to fruits. This transition is complemented by an increasing focus on sustainable packaging solutions, as both manufacturers and consumers prioritize eco-conscious choices. As a result, the market is set to expand, reflecting a broader commitment to reduce environmental impact while providing functional food packaging solutions.