The global food wrapping paper market is expected to gain traction from its increasing usage in cafes, hotels, restaurants, and other food service providing companies. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Food Wrapping Paper Market Size, Share & Industry Analysis, By Product Type (Plastic Foil, Aluminum Foil, Paper), By End-Use (Hotels, Restaurants, Cafes, Fast Food Outlets, Cinema, Airlines & Railway Catering, Institutions, Others) and Regional Forecast, 2020-2027.” The report further states thatfood wrapping paper is mainly made up of biodegradable materials, such aspoly vinyl chloride, polypropylene, EVOH, and polyethylene.
The outbreak of the COVID-19 pandemic impacted the value chain of numerous industries. Many companies are lowering their operational and capital expenditures because of this crisis. They have also scaled down around40%-60%of operations owing to disruptions in the supply of raw material and labor shortages. Our research reports will help you in gaining complete insights into this market.
Request a sample PDF (Includes COVID-19 Impact Analysis):a
How Did We Develop This Report?
Our analysts have conducted both qualitative and quantitative techniques, as well as a blend of primary and secondary sources to collect information. They have taken data from paid databases, press releases, company journals, and other sources to provide a complete picture of the market for food wrapping papers. To derive information about the competitive landscape, such as collaborations, joint ventures, acquisitions, mergers, partnerships, and acquisitions, they have conducted thorough interviews with prominent figures.
Drivers & Restraints-
Increasing Demand for Fast Food to Accelerate Growth
The demand for fast food and on-the-go food items is surging rapidly across the globe. It is set to drive the food wrapping paper market growth in the coming years. Besides, food wrapping papers are capable of keeping the food fresh and warm for a longer period of time. They can be easily stored. They are also considered to be an excellent platform for developing brand image, thereby attracting more customers to create brand equity. However, the volatility in the cost of raw materials, such as aluminum and polypropylene may hamper growth.
Asia Pacific to Dominate Stoked by High Popularity of KFC, Pizza Hut, and McDonald’s
Geographically, Asia Pacific is anticipated to dominate throughout the forthcoming years by generating the largest food wrapping paper market share. This growth is attributable to the increasing popularity of fast food restaurant chains, such as Pizza Hut, Burger King, KFC, Domino’s, and McDonald’s in the region. Apart from that, the rising demand for convenience food and the surging disposable incomes of the middle-class population would also aid growth.
North America, on the other hand, is set to exhibit significant growth fueled by the high demand for various fast food items, such as hotdogs, sandwiches, burgers, and pizzas in the region. In Europe, multiple countries would contribute to favorable growth of the market for food wrapping papers on account of the surging demand for convenience food. The Middle East and Africa and Latin America would grow considerably stoked by the rising consumption for fast food.
Inquiry before buying:
Key Players Focus on Expanding Production Capacity to Strengthen Their Positions
The market for food wrapping papers comprises various companies that are mainly focusing on broadening their production capacity to surge sales and cater to the high consumer demand. Some of the others are aiming to gain a competitive edge through the acquisition strategy. Below are the two latest industry developments:
- April 2019:Mitsubishi Chemical Corporation planned to broaden its annual production capacity of its ethylene vinyl alcohol copolymer (EVOH) resin called SoarnoL. The capacity will now be 41,000 tons. It is likely to commence in 2020. EVOH is extensively used to manufacture packaging materials that would aid in enhancing the quality and flavors of foods. It also reduces the wastage of food.
- April 2018: Twin River Paper Company acquired a paper mill situated in Pine Bluff. The mill produces Bag-grade, Converting, and Multiwallunbleached kraft papers for a variety of industrial, agricultural, and food applications. This acquisition will help the company to offer a seamless customer experience.
A list of the renowned food wrapping paper manufacturers present in the global market:
- Hindalco Industries Limited
- Mitsubishi Chemical Holdings Limited
- Amcor Limited
- Reynolds Group Holding Limited
- C. Johnson & Son, Inc.
- Berry Global, Inc.
- Reynolds Group Holding Limited
- Twin Rivers Paper Company
- Other prominent organizations
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune – 411045, Maharashtra, India.
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: [email protected]
Connect us via Social Media Channels: