Food contact paper & board market is driven by rising demand safe and hygienic food, food contact paper & board market to witness new investments and growth opportunities | food contact paper & board market
Food contact paper and board are being used in the food industry in a wide range of applications such as manufacturing, processing, preparing, treating and packaging. There are few applications where close contact is involved, such as dip tea bags and filter papers, while direct contact packaging finds application in cartons for beverages, bakery goods & butter wrapping, fruits, and takeout food.
In addition, it has wide applications in transport and distribution packaging.
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The paper and board sector has been continuously innovating new, safe and functionally effective food handling and packaging materials, to protect human health and the interests of consumers.
This type of packaging protects the food from external elements such as air, dust, grease, and moisture. Food contact paper and board is flexible, easy to handle, hygienic, and easily disposable.
By acting as a replacement for plates and other serving utensils, it also results in cost reduction for food vendors.
Evolving life style and increasing healthcare awareness among consumers has led to the rise in global demand for safe and hygienic food, in turn driving growth of the market for food contact paper and boards. Owing to its value added applications, right from protection of food products to their safe distribution and transportation, the market for food contact paper and board is expected to witness new investments and growth opportunities, especially in the developing countries.
The main drivers for the growth of the market are private consumers, distributors, and private packaging firms, which are focusing more on delivering an intact product.
However, sustainability of the market for insulated packaging majorly depends on the price and supply of raw materials. Besides, presence of big and small packaging firms has created a highly competitive environment in the market for food contact paper and board.
The global food contact paper and board market is segmented on the basis of type and geography. By type, the global food contact paper and board market is segmented into poly-coated or non poly-coated and bleached or unbleached paper and boards.
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By geography, the global food contact paper and board market is segmented into seven key regions, including North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, the Middle East & Africa, and Japan. The global food contact paper and board market is anticipated to expand at a double digit CAGR over the forecast period.
Asia Pacific market is expected to be the most attractive market for insulated packaging due to rise in end use applications of the packaging type in the region. As of 2016, China is the largest food contact paper and board market in Asia Pacific, followed by India, and the market in these countries is expected to grow rapidly in the near future.
North America, followed by Western Europe, are the other prominent regions projected to hold a promising future growth potential in the food contact paper and board market by the end of 2023.
Some of the key players in the global food contact paper and board market are Mondi, International Paper, Smurfit Kappa Group, Nordic Paper Holding, Huhtamaki, Nippon Paper Group Inc., Sonoco Products, Cryopak, and Georgia-Pacific.
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