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. Vegetable parchment paper is widely used in convenience food packaging as it acts as a barrier to moisture, oil and grease. It helps extend the shelf life of products. The paper is easy to use and helps provide appealing packaging for bakery, deli and foodservice applications.
Market key trends:
Growing demand for convenience packaging is a key factor propelling the growth of the vegetable parchment paper market. Consumers are opting for ready-to-eat foods and snacks that offer convenience. Vegetable parchment paper helps extend the shelf life of various convenience food products as it acts as an effective barrier. It allows manufacturers to offer appealing and attractive packaging for products. The parchment paper is grease and moisture resistant which further aids in the easy cooking and baking of different foods. This key property has been fueling its usage in frozen food packaging and other convenience applications.
- Strength: Vegetable parchment paper is lightweight and nonstick which allows for easy release and clean up of baked goods. It is durable and can withstand high temperatures making it suitable for baking applications.
- Weakness: Vegetable parchment paper is more expensive as compared to other conventional baking papers. It cannot replace greaseproof or wax paper in all applications.
- Opportunity: Rising demand for baked goods and increasing health consciousness is encouraging consumers to opt for natural barrier papers like vegetable parchment. Growing food service industry also offers opportunities.
- Threats: Stiff competition from alternative barrier papers poses threat. Volatility in raw material prices can impact the supply and cost of vegetable parchment paper.
The global vegetable parchment paper market is expected to witness high growth.
Regional analysis: Europe currently dominates the global market owing to large scale use of vegetable parchment paper in boulangerie and patisserie. Asia Pacific is projected to be the fastest growing market due to rising income levels and expanding retail landscape in countries like India and China.
Key players: Key players operating in the vegetable parchment paper market are 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.