Market Introduction
Food contact paper is used as primary packaging materials for various food products such as baked food, confectionery, meat, snacks, and grain mill products. Food contact paper is a sustainable alternative to many other food packaging materials such as plastic and glass. Growing initiatives by companies to reduce their carbon footprint has been a major factor influencing the adoption of food contact paper.
Moreover, the expanding demand for recyclable and biodegradable packing is expected to bolster the market growth during the forecast period. However, higher market penetration by aluminum foil packaging limit the growth of the Asia Pacific food contact paper market.
The COVID-19 outbreak is anticipated to cause a significant economic loss in Asia-Pacific. The consequence and impact are likely to worsen with the spread of the virus. The governments of various Asia-Pacific countries-imposed lockdowns in early 2020 to restrict the spread of the virus. The governments have asked the food and beverage manufacturers to delay their production, which has adversely affected the global supply of food and beverages, and subsequently food contact paper. However, in 2021, the government of different countries in Asia-Pacific are now offering vaccination to people and taking precautionary measures to protect people against the spread of COVID-19. Also, e-commerce network is playing a major role in food distribution during the pandemic, and people mostly prefer buying products online. The emergence of various food delivery apps in the region is benefitting the food contact paper market and helping in speedy recovery of the demand. The reliance on food delivery apps is growing rapidly as more consumers in the region have begun to have access to required technology. The hectic lifestyles of consumers in developing countries along with the growing disposable income has increased dependency on takeaway food, therefore benefitting the food contact paper market. Therefore, despite the emergence of pandemic the high dependency on packaged food as well as takeaway food coupled with the growth in food delivery apps has helped the food contact paper market stay afloat through the pandemic.
Market Overview and Dynamics
The Asia Pacific food contact paper market is expected to reach US$ 43.0 billion by 2028 from US$ 29.2 billion in 2021. The market is estimated to grow at a CAGR of 5.7% from 2021–2028. Hectic schedules of consumers, combined with a change in lifestyles, are leading to a rise in the consumption of packaged food, especially ready-to-eat (RTE) meals. The growing demand for handheld breakfast and frozen pizza is causing a surge in the RTE meals market. These products are typically marketed as inexpensive, high-quality products with retained freshness. This has led to the immense popularity of RTE in Asia Pacific, leading brands to strategically drive their growth through expansion and targeted marketing. Moreover, innovation in food products has further aided the market growth for packaged foods. For instance, Sunbasket offers DIY meal kits with Mediterranean, gluten-free, diabetes-friendly, paleo, and vegan options. Moreover, Whitworths introduced plant-based RTE meals for vegan consumers made from wheat berries, lentils, quinoa, and pinto beans. Various brands have also introduced preservative-free, low-sodium, and low-calorie RTE meals for fitness-savvy consumers.
Key Market Segments
In terms of type, the kraft paper segment accounted for the largest share of the Asia Pacific food contact paper market in 2020. In terms of application, the bakery and confectionery segment accounted for the largest share of the Asia Pacific food contact paper market in 2020
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the food contact paper market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Mondi, Westrock Company, Superiorpaper Pty Ltd., TOPCARE, Upm, Ahlstrom-Munksjö, and Krpa Holding Cz, A.S.
Reasons to Buy Report
ASIA PACIFIC FOOD CONTACT PAPER MARKET SEGMENTATION
By Type
By Application
By Country
Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 29.2 Billion |
| Market Size by 2028 | US$ 43.0 Billion |
| CAGR (2021 - 2028) | 5.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Food Contact Paper Market is valued at US$ 29.2 Billion in 2021, it is projected to reach US$ 43.0 Billion by 2028.
As per our report Asia Pacific Food Contact Paper Market, the market size is valued at US$ 29.2 Billion in 2021, projecting it to reach US$ 43.0 Billion by 2028. This translates to a CAGR of approximately 5.7% during the forecast period.
The Asia Pacific Food Contact Paper Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Food Contact Paper Market report:
The Asia Pacific Food Contact Paper Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Food Contact Paper Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Food Contact Paper Market value chain can benefit from the information contained in a comprehensive market report.
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