The global vegetable parchment paper market is anticipated to witness a market value of USD 1.33 billion in 2023 and is expected to harness a market value of USD 2.3 billion by reflecting a CAGR of 5.63 % in the forecast period 2023 to 2033. The market for Vegetable parchment paper market registered a CAGR of 4.8% in the historical period 2018 to 2022.
The food industry is flourishing across the world. Along with food products, the packaging of food is also creating a huge impact on consumer preferences. The vegetable parchment paper is cost-efficient and sustainable packaging products, that is the primary requirement of food companies from the packaging solutions.
Burgeoning food packaging sector and alteration in consumer preference towards toxin-free products is also fuelling market growth.
The ability to tolerate high temperature up to 220 degrees makes vegetable parchment paper the most preferred wrapping option for cooking and baking of food. The biggest brands in the food industry generally use vegetable parchment paper for wrapping bakery and dairy products.
Furthermore, the vegetable parchment paper also has household applications to bake or roast the vegetables which is creating space for market expansion of this market. Due to increased efficacy in preventing food contamination and improved shelf-life, the food packaging business is expanding swiftly.
This is anticipated to create demand for vegetable parching paper and ultimately fuel the market growth.
Likewise, vegetable parchment paper wrapping assures an Oil free, aesthetically pleasing, and hygienic method of storing and transporting food products including cheese, cold cuts and baked goods.
Additionally, Paper pulp is also used to create these grease proof vegetable parchment paper which is expected to fuel market growth in the forecast period.
On the other hand, rising plastic pollution is a major environmental concern, globally. For example, according to central pollution control board, around 4 million tons of garbage is disposed every day, out of which 15.4% comprises plastics.
Plastics are estimated to account for around 20% of the entire pollution over the following 25 years, as compared to 7% currently. These factors are anticipated to boost demand for recyclable and biodegradable options like vegetable parchment paper, which in turn is expected to drive market growth during the forecast period.
Globally, the processed food industry is witnessing high growth. To maintain the quality of food is the primary concern for the food companies. Hygiene and extended shelf life are the key factors while considering food packaging solutions.
The vegetable parchment paper is growing in demand due to its safe and natural packaging solutions which is expected to benefit the market in the forthcoming period.
Region-wise, Asia Pacific is expected to witness fastest CAGR of 5.5% during the forecast period. The growth is attributed to increasing demand for convenience products from end-use industries such as food and baking, in turn driving growth of vegetable parchment paper market in emerging economies such as India and China. For example, according to China’s bureau of statistics, food consumption reported for around 31% of household expenditure of around USD 641.12 billion in 2015.
Also, from 2008 to 2017, money spent on food consumption increased by around 41% in China. Moreover, vegetable parchment paper is used in the food and baking industries for applications like baking sheets, pan liners, and candy and taffy wraps which is anticipated to drive market growth in this region.
Likewise, the vegetable parchment paper market in North America is expected to account for 35.2% market share by end of the forecast period. The United States is expected to be the dominating country-level consumer of the vegetable parchment paper due to its high expenditure on food items and robust distribution channels.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | USD 1.33 billion |
| Projected Market Value in 2033 | USD 2.3 billion |
| Growth Rate (2023 to 2033) | 5.63% CAGR |
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Latest developments in technology, mergers, acquisitions, tie-ups and partnerships within the companies involved in manufacturing vegetable parchment paper are expected to create lucrative opportunities for market growth during the forecast period.
The vegetable parchment paper is cellulose-based paper, which is coated to make it non-stick. The vegetable parchment paper is a secured packaging or wrapping option for food wrapping without imposing any residual. The vegetable parchment paper is used due to its excellent waterproof, odorless, and fat resistant properties.
The ability to withstand in high temperature up to 200 makes vegetable parchment paper the most favorable wrapping option for cooking or baking the food. The largest brands in the food industry generally use the vegetable parchment paper for wrapping bakery and dairy products.
Along with the processed food packaging, the vegetable parchment paper has household applications to bake or roast the vegetables. Across the world, the processed food industry is bourgeoning at high growth.
To maintain the quality of food is the key concern for the food companies. Hygiene and extended shelf life are the key factors to consider food packaging solutions. The vegetable parchment paper is increasing in demand due to its safe and natural packaging solutions.
The food industry is growing across the world. Along with food products, the packaging of food is also creating a high effect on consumer preferences. The vegetable parchment paper is cost-efficient and sustainable packaging products, which are the primary need of food companies from the packaging solutions.
The aluminum foil market for food is expected to witness a loss in market share due to the increased adoption of vegetable parchment paper. The vegetable parchment paper market is going through the high regulatory compliance and authority approvals, which makes quite difficult to paper manufacturers to enter the market.
The popularity of vegetable parchment paper is increasing from the last five years. The global export of vegetable parchment paper was expended by 13% in value during 2017-2018. According to the International Trade Centre, Finland is the leading exporter of vegetable parchment paper, which had exported around 0.3 Million tons of shipments in 2018.
France, Italy, Germany, and China are the other top exporters for the vegetable parchment paper. In terms of import, Germany and the United States were imported around 0.3 Million tons of vegetable parchment paper and accounted for 23.6% of the import market in 2018.
The United States is expected to the leading country-level consumer of the vegetable parchment paper due to its high spending on food items and strong distribution channels. In terms of supply, Europe is expected to be dominating the global market.
The large volume production of vegetable parchment paper is expected to carry out in European countries such as Finland, France, Italy, and Germany. In terms of consumption, Europe is expected to be a dominating region for vegetable parchment paper market. Oceania region is expected to witness a fast-paced growth in the demand for vegetable parchment paper in the next ten years. C
hina & India are expected to witness a high demand for vegetable parchment paper in the next decade owing to increased spending on food and the growing adoption of processed food.
The key players operating in the global vegetable parchment paper market are as follows:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on vegetable parchment paper market segments and geographies.
The global vegetable parchment paper market has been segmented by grammage, product type and distribution channel.
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Vegetable Parchment Paper Market
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