Latex-Saturated Paper Market Analysis: US$ 2.7 Billion in 2023, Set for Steady Growth | TMR

Global Fast Food Wrapping Paper Market to Reach US$ 3.5 Bn by 2032, Growing at a 2.8% CAGR from US$ 2.7 Bn in 2023

WILMINGTON, DE, UNITED STATES, December 21, 2024 /EINPresswire.com/ -- The global fast food wrapping paper market was valued at US$ 2.7 billion in 2023. It is projected to grow at a compound annual growth rate (CAGR) of 2.8% from 2024 to 2032, reaching an estimated market size of US$ 3.5 billion by the end of 2032. The growth is primarily driven by the rapid adoption of on-the-go food products and the increasing demand for biodegradable and compostable packaging solutions.

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Analyst Viewpoint

The fast food wrapping paper market is witnessing significant growth due to advancements in packaging technology and a surge in consumer demand for eco-friendly solutions. Leading players are introducing innovative packaging materials to meet sustainability criteria while maintaining food hygiene and freshness. These developments not only enhance their product portfolios but also help companies cater to the growing demands of the fast food industry.

Market Introduction

Fast food wrapping paper is a versatile food-grade packaging solution used to wrap various ready-to-eat food products, including breads, burgers, sandwiches, and other bakery items. The paper is extensively utilized in cafes, restaurants, and quick-service food joints to maintain food quality and hygiene.

Common materials used in fast food wrapping paper include Polypropylene (PP), Polyethylene (PE), Ethylene Vinyl Alcohol (EVOH), and Polyvinyl Chloride (PVC). Paper-based packaging solutions are made from materials like kraft paper and specialty papers such as wax-coated, foil, and greaseproof papers.

These papers are available in various thicknesses and are tailored for different food products.

Key Market Drivers

1. Rapid Adoption of On-the-Go Food Products

Fast food wrapping papers protect food from external contaminants while maintaining freshness. The growing working population and busy lifestyles have increased the demand for convenient, ready-to-eat food products. High-quality wrapping papers extend the shelf life of these foods, boosting the demand for such packaging solutions.

For instance, the United States leads in fast food consumption, with individuals consuming fast food 1-3 times per week. This trend underscores the importance of reliable packaging solutions to cater to such high consumption rates.

2. Surge in Demand for Biodegradable and Compostable Packaging Solutions

Growing awareness of environmental sustainability has prompted the development of biodegradable and compostable packaging materials. These materials, made from bamboo, cellulose, seaweed, and corn starch, offer eco-friendly alternatives to traditional plastics.

Stringent government regulations on food packaging and safety protocols have further fueled the adoption of sustainable packaging materials. Manufacturers are increasingly investing in research and development to create innovative packaging solutions that meet these evolving standards.

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Regional Outlook

North America

North America held the largest market share in 2023, with a projected CAGR of 2.1% during the forecast period. The region's high consumption of fast food and the robust growth of the food and beverage sector are key contributors to market expansion. According to the United States Department of Agriculture, expenditure on food away from home accounted for approximately 53.9% of total food spending in 2022.

Europe

Europe’s market growth is driven by stringent environmental regulations and a strong focus on sustainability. Countries like Germany, the U.K., and France are at the forefront of adopting biodegradable packaging solutions.

Asia Pacific

The Asia Pacific region is witnessing rapid growth due to increasing urbanization, rising disposable incomes, and the expanding fast food industry. China, India, and Japan are significant contributors to the regional market’s growth.

Key Players

Leading companies in the fast food wrapping paper market include:

• Berry Global, Inc.
• Delfort Group
• Georgia-Pacific LLC
• Twin Rivers Paper Company
• Huhtamaki Oyj
• Mitsubishi Chemical Holdings Limited
• Amcor Plc
• Mondi Group
• Reynolds Group Holding Limited
• The Clorox Company
• S. C. Johnson & Son, Inc.
• Nordic Paper AS
• Anchor Packaging Inc.
• Pudumjee Paper Products Ltd.

Key Developments

1. Berry Global, Inc. introduced a reusable tableware range in February 2024 to deliver sustainable packaging solutions to the food sector, enhancing its product portfolio.

2. Koehler Paper launched Koehler NexPure OGR, an oil- and grease-resistant sustainable paper, in February 2023 to cater to the fast-food industry’s packaging needs.

Market Segmentation

By Thickness

• Plastic & Aluminum Foil:
o Below 8 Microns
o 8 to 14 Microns
o 14 to 20 Microns
o 20 Microns & Above
• Paper:
o Up to 30 GSM
o 30 to 50 GSM
o Above 50 GSM

By Material Type

• Plastic:
o Polyethylene
o Polypropylene
o Polyamide
o Polyvinyl Chloride
o Polylactic Acid
o EVOH
• Paper:
o Kraft Paper
o Specialty Paper
o Greaseproof Paper
o Wax Paper
o Foil Paper
o Aluminum Foil

By Fast Food Type

• Sandwiches
• Burgers
• Pizza
• Wraps & Rolls
• Chicken
• Other Snack Food

By End-Use

• Hotels
• Restaurants
• Cafes
• Fast Food Outlets
• Cinemas
• Airline & Railway Catering
• Institutional

By Region

• North America: U.S., Canada
• Europe: Germany, U.K., France, Italy, Spain
• Asia Pacific: China, India, Japan, ASEAN
• Latin America: Brazil, Mexico
• Middle East & Africa: GCC, South Africa

Conclusion

The global fast food wrapping paper market is poised for steady growth through 2032, driven by the rising adoption of on-the-go food products and increasing demand for sustainable packaging solutions. Key players are leveraging advancements in materials and technology to meet evolving consumer preferences and regulatory requirements. With a focus on sustainability and innovation, the market offers significant opportunities for growth and expansion.

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