Vegetable parchment paper is a specially-treated paper widely used as a cooking and baking aid, and as an ingredient separater and liner in food packaging. The paper is primarily manufactured from alpha-cellulose fiber and is tightly packed to provide non-stick, heat resistant, and moisture resistant properties. It is extensively used in baking and food processing as it prevents sticking and allows easy release of ingredients. Vegetable parchment paper provides excellent grease, oil, and moisture barriers, protecting ingredients from absorption or transfer during cooking and storage. It acts as an effective substitute for greased or waxed paper and aluminum foil in many applications. The global vegetable parchment paper market is estimated to be valued at US$ 1.33 Bn in 2023 and is expected to exhibit a CAGR of 5.6 % over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the vegetable parchment paper market is the increasing demand from food packaging industry. Vegetable parchment paper is widely used as a packaging material in processed food, bakery & confectionery, meat, and other segments due its grease resistance and moisture barrier properties. It helps increase shelf life of products and prevents contamination. Growing packaging Industry worldwide is thus augmenting the market growth. Another key trend is the shifting preference towards eco-friendly paper alternative. Vegetable parchment paper is considered environmental friendly as it is biodegradable, recyclable, and safer compared to plastics. Increasing environmental consciousness among consumers has led manufacturers to focus on developing more sustainable packaging solutions, driving the demand of vegetable parchment paper.
- Threat of new entrants: The vegetable parchment paper market requires high initial investment for manufacturing plants and R&D which poses significant threat of new entrants.
- Bargaining power of buyers: The buyers have moderate bargaining power due to availability of substitutes like baking paper and foil sheets.
- Bargaining power of suppliers: The suppliers have moderate to high bargaining power as raw materials like pulp and starch are basic commodities.
- Threat of new substitutes: Substitutes like baking paper and foil sheets pose moderate threat due to functional properties.
- Competitive rivalry: The market is dominated by large players.
The global vegetable parchment paper market is expected to witness high growth.
Regional analysis: Europe dominates the market owing to high demand from food industries in countries like Germany, France and UK. Asia Pacific exhibits fastest growth led by India and China due to growing food processing sector.
Key players operating in the vegetable parchment paper market are Amol Paper Mills Pvt. Ltd, Kalpataru, Livriite Ventures, JK Paper, Black Label Paper Company, Nordic Paper, Tesco, Ahlstrom-Munksjö, Pudumjee Paper Products, Shaoxing Tianming PaperIndustry CO.,LTD, Sunrise Papers., Rockdude Impex Pvt. Ltd., Kraft Interactions., Taian Baichuan Paper KK, McNairn Packaging., COREX Group and Scan Holdings. Key players are focusing on strategic partnerships to consolidate their market position.