Waxed Paper Market Set to Reach US$ 2,991.8 Million by 2034 Driven by Rising Adoption of Sustainable Packaging Solutions and Innovations in Coating Technologies

Industries like food, beverages, cosmetics, and pharmaceuticals are increasingly seeking sustainable packaging options, with a notable focus on eco-friendly waxed paper. This trend is driving the growth of the Waxed Paper Market.

NEWARK, Del, March 11, 2024 (GLOBE NEWSWIRE) — According to Future Market Insights (FMI), the global waxed paper market is estimated to be valued at US$ 1,863.7 million in 2024. Global demand for waxed paper is predicted to rise at a steady CAGR of 4.8% throughout the forecast period. By 2034, the market is expected to reach US$ 2,991.8 million. 

Waxed paper is increasingly used in the food industry to preserve the freshness and quality of ready-to-eat food items and acts as a barrier against external elements. Waxed paper packaging and wrapping ensure that consumers have fresh and flavourful eating experiences, driving the market growth.  

Fast food and ready-to-eat items are becoming oilier, leading to rising demand for packaging that prevents greasiness. Waxed paper, with its grease-resistant properties, is sustainable and prevents oil leakage and grease stains, ensuring the integrity of packaging during handling and consumption.

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The waxed paper serves better portability and convenience while delivering food, allowing consumers to carry and move with their ready-to-eat foodstuff easily. The lightweight and foldable nature of waxed paper is suitable for packaging for portable and on-the-go consumption, fueling market expansion.  

Advancements and innovations in coating technologies related to improved performance, sustainability, and versatility of waxed paper products are creating traction in the industry. Developing advanced coating formulations using water-based, solvent-free, and low migration-safe coatings is ongoing to meet the necessary regulatory requirements for addressing food safety concerns. 

Key Takeaways from the Global Waxed Paper Market

• Based on product type, the greaseproof segment is expected to surge at 3.9% CAGR by 2034. 
• The waxed paper industry in the United States is expected to expand at a CAGR of 4.2% by 2034.
• South Africa is expected to surge at 7.1% CAGR by 2034. 
• India’s waxed paper market is projected to surge at an 8.2% CAGR during the forecast period. 
• The global waxed paper market is estimated to be valued at US$ 1,863.7 million in 2024. 

“Several countries are actively advocating for sustainable packaging solutions, with initiatives like the European Green Deal and Circular Economy Action Plan promoting the transition toward eco-friendly materials. Encouraging eco-friendly alternatives such as waxed paper is further expected to encourage environmentally responsible packaging practices worldwide.”- says Ismail Sutaria (Lead Consultant, Packaging and Materials)

Competitive Landscape:

Georgia-Pacific Consumer Products LP, Pixelle Specialty Solutions, RP Paper Impex, Nordic Paper, and Asia Pulp & Paper Group are the leading players in the market. Tier 1 players in the market hold 5 to 15% of the overall waxed paper market. Key market players emphasize customization services such as custom printing, embossing, or branding on waxed paper products to expand their market reach.

For instance, 

• In July 2023, Pixelle Specialty Solutions launched FlexArmor, which is for uncoated applications, and SelectArmor, which has a coated surface for enhanced printability and is its new barrier paper solution.
• In December 2023, Georgia-Pacific invested US$ 425 million to expand its Dixie facility in Jackson, Tennessee.

Leading Key Players:

• Georgia-Pacific Consumer Products LP
• Pixelle Specialty Solutions
• RP Paper Impex
• Nordic paper
• Asia Pulp & Paper Group
• MPI Papermills Inc.
• Ahlstrom-Munksjo Oyj
• Reynolds Group
• Delfort Group Ag
• Cosmoplast
• JK Paper Ltd.
• Drewsen Spezialpapiere GmbH & Co. KG
• Metsä Group
• Vizille paper mills
• Sun Pack Corporation
• Segezha Group
• Pregis LLC
• SIMPAC Inc.
• KRPA Holding CZ a.s.
• Napco National
• The Griff Network
• BiOrigin Specialty Products (BSP)

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Get More Insights into the Global Waxed Paper Market Report:

Future Market Insights (FMI), in its new report, offers an unbiased analysis of the global waxed paper market, analyzing historical demand from 2019 to 2023 and forecast statistics for 2024 to 2034.

The study reveals market growth projections on thickness (up to 50 gsm, 50 to 100 gsm, above 100 gsm), paper grade (bleached and unbleached), product type (wax coated, greaseproof, silicone coated, colored paper), application (printing and packaging), end-use (food and other industrial), and region.

Global Waxed Paper Market Segmentation by Category

By Thickness:

• Up to 50 GSM
• 50 to 100 GSM
• Above 100 GSM

By Paper Grade:

By Product Type:

• Wax Coated
• Greaseproof
• Silicone Coated
• Colored Paper

By End-use:

• Food
  • Ready to Eat Food
  • Bakery & Confectionery
  • Dairy Products
  • Other Food
• Other Industrial

By Application:

By Region:

• North America
• Latin America
• Europe
• Middle East and Africa
• East Asia
• South Asia
• Oceania

Authored By:

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power. 

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics. 

Have a Look at the Related Reports of the Packaging Domain:

• Packaging Barrier Film Market Outlook: The pace of progress for the market from 2024 to 2034 is expected to be consistent, with a CAGR of 2.7%.
• Paper Core Market Overview: The demand for paper cores is predicted to rise at a CAGR of 2.2% through 2034.
• Jute Bag Market Size: The global jute bag industry share is estimated to reach a value of nearly US$ 1,090.8 million by 2034.
• Stretch Hood Film Market Share: The global market size is anticipated to be worth US$ 1,066.7 million by 2034 and is projected to clock a 2.7% CAGR until 2034.
• Pouch Market Growth: The global market is predicted to be worth US$ 74.4 billion in 2024, with a CAGR of 3.0% from 2024 to 2034, finally exceeding US$ 102.1 billion by 2034.
• Flexible Packaging Paper Market: The global market size is anticipated to be worth US$ 58.4 billion by 2034. According to the estimates, the market is projected to clock a 2.3% CAGR until 2034.
• Woven Bag Market: The adoption of woven bags is estimated to stand at US$ 6.5 billion in 2024. The market is forecasted to exceed a valuation of US$ 9.9 billion by 2034.
• Bubble Wrap Packaging Market: The market is predicted to grow rapidly at a CAGR of 3.1% from 2024 to 2034. The market is expected to reach a valuation of US$ 4.2 billion by 2034. 
• Duct Tape Market: The market is forecasted to exceed a valuation of US$ 8.0 billion by 2034.
• Smart Label Market: The market size is expected to expand from US$ 8.0 billion in 2024 to US$ 21.1 billion by 2034.

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