What Is The Definition Of The Global Vegetable Parchment Paper Market?
Vegetable parchment paper refers to a type of paper that has been treated to enhance its durability, grease resistance, and water resistance, making it suitable for various culinary and industrial applications. It is an essential tool for ensuring consistent baking results, easy cleanup, and maintaining food safety standards in the culinary industry.
Vegetable Parchment Paper Global Market Report 2024 provides data on the global vegetable parchment paper market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The vegetable parchment paper market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Are The Global Vegetable Parchment Paper Market Size And Growth Rates Projected To Evolve?
The vegetable parchment paper market will grow from $1.21 billion in 2023 to $1.28 billion in 2024, reflecting a CAGR of 5.8%. This growth is driven by the increasing preference for vegetable parchment paper in food packaging, the high growth of the processed food industry, rising environmental consciousness, and consumer demand for sustainable, high-quality parchment papers. The market is expected to reach $1.61 billion by 2028 with a CAGR of 5.9%, supported by the growing food packaging sector, rising disposable incomes, increased plastic pollution, demand for convenience products, and greater awareness of health concerns. Key trends include demand for recyclable or biodegradable options, technological innovations, expansion of bakery industries, and consumer preferences for toxin-free products.
What Are The Essential Drivers Behind The Growth Of The Vegetable Parchment Paper Market?
The increasing demand from the food industry is anticipated to propel the vegetable parchment paper market’s growth. As the global population grows and consumer preferences shift toward convenience and diverse diets, the food industry relies on vegetable parchment paper for efficient food preparation and environmental sustainability. For instance, the United States Department of Agriculture reported in September 2023 that total food spending in the U.S. increased by 11.4% in 2021 and 3.4% in 2022, driven by a rise in spending on food away from home. This rising demand from the food industry supports the vegetable parchment paper market’s expansion.
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How Is The Global Vegetable Parchment Paper Market Divided Into Key Segments?
The vegetable parchment paper market covered in this report is segmented –
1) By Product Type: Bleached, Natural, Resin Treated, Other Product Types
2) By Classification: Plain Vegetable Parchment, Siliconized Genuine Vegetable Parchment
3) By Distribution Channel: Hypermarkets, Supermarkets, Specialty Stores, Online Stores, Other Distribution Channels
4) By Application: Food, Paper Industry, Other Applications
What Trends Are Reshaping The Future Of The Vegetable Parchment Paper Market?
In the vegetable parchment paper market, companies are advancing silicone high-density greaseproof solutions for better durability and moisture resistance in high-temperature applications. For instance, in May 2021, AHLSTROM-MUNKSJÖ OYJ, a Finland-based firm, introduced a range of silicone high-density greaseproof papers, including the Durabake line, designed for demanding baking and cooking needs. These papers combine excellent release properties with enhanced wet strength, catering to diverse culinary requirements.
What Is The Fastest Growing Region In The Vegetable Parchment Paper Market?
North America was the largest region in the vegetable parchment paper market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the vegetable parchment paper market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
