July 21, 2024

Vegetable Parchment Paper Market Driven by Demand for Convenient and Hygienic Cooking Processes

Vegetable parchment paper is widely used as a substitute for greaseproof paper or wax paper in cooking and food packaging applications owing to its advantages. Vegetable parchment paper is produced from α-cellulose obtained from specially selected wood pulps that are bleached without the use of chemicals. It provides superior grease resistance as compared to traditional greaseproof paper while being safe for food contact. Vegetable parchment paper is oven-proof, moisture resistant and allows even heat distribution, making it an ideal non-stick baking sheet and food wrapping solution. It can withstand temperatures up to 260°C without burning or scorching. Furthermore, vegetable parchment paper is 100% recyclable and does not deteriorate the quality of food when in direct contact, unlike greaseproof or wax paper.

The global vegetable parchment paper market is estimated to be valued at US$ 1.33 Billion in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030.

Market key trends:
One of the key trends in the vegetable parchment paper market is an increasing focus on developing eco-friendly and biodegradable packaging solutions. Conventional greaseproof papers contain synthetic petroleum-based polymers that are not biodegradable. However, vegetable parchment paper is manufactured from sustainably sourced wood pulps through a chlorine-free bleaching process. It is completely biodegradable and home compostable. Leading manufacturers are investing more in R&D to enhance the recyclable and biodegradable credentials of vegetable parchment paper to capitalize on the rising demand for sustainable packaging. This will further propel the demand for vegetable parchment paper across industries and help reduce environmental footprint significantly.

Porter’s Analysis

  • Threat of new entrants: The threat of new entrants is moderate as manufacturing of vegetable parchment paper requires high capital investments for specialized machinery and raw materials. However, the demand for parchment papers is growing continuously which provides scope for new players.
  • Bargaining power of buyers: The bargaining power of buyers is high as the vegetable parchment paper market has numerous global as well as regional vendors providing multitude options to buyers. This allows buyers to negotiate on better prices and demand value-added services.
  • Bargaining power of suppliers: The bargaining power of suppliers is moderate as the raw materials required are paper pulp and vegetable based oils which have many suppliers globally. However, switching costs from one supplier to another are low.
  • Threat of new substitutes: The threat of substitutes is moderate as parchment paper has close substitutes like greaseproof paper, wax paper and aluminium foils. However, parchment paper is compostable and recyclable providing an environmental advantage over substitutes.
  • Competitive rivalry: The competitive rivalry is high owing to presence of numerous international and regional players offering differentiated product offerings to cater varying customer demands.

Key Takeaways

The global Vegetable Parchment Paper Market is expected to witness high growth.

Regional analysis: North America currently dominates the global market due to high demand from food processing and packaging industries in the US and Canada. Asia Pacific is expected to be the fastest growing market with China, India, Japan and South Korea emerging as major consumers.

Key players: 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.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it