Download Sample, Cosmetic and Pharmaceutical Sector is Expected to Boost the Waxed Paper Market Demand
The rising awareness and unique feature of the waxed paper market is booming in various sectors due to its moisture resistance feature, it has been integrated with the cosmetic and pharmaceutical industries as a suitable packaging solution. The moisture-resistant feature safeguards the products from humidity and moisture. Thus, the rising cosmetic and pharmaceutical sectors have boosted the market for waxed paper. Speaking about the pharmaceutical market, according to the report of the European Federation of Pharmaceutical Industries and Associations, the global market for pharmaceutical products is summed at US$ 1.1 trillion and is expected to grow more with the rising number of diseases. Also, the rising demand for beauty products is fuelling the cosmetic market, which is expected to boost the demand for waxed paper. According to the data of the Indian Brand Equity Foundation, the global cosmetic market is expected to reach the mark of US$ 450 billion by 2025, where the expected compound annual growth rate is expected to be 4.3%.
Increasing Food Delivery and Food Packaging Services the Waxed Paper Market is Expected to Boom
The waxed paper market has experienced exponential growth due to the expansion of the food delivery services industry. According to the data of the National Library of Medicine, the online food delivery market is expected to reach the mark of US$ 223.7 billion by 2025, which is a growth of 25%–30%. The data also consist of the facts that currently the US has 48 million online food delivery users and will be 70 million by the end of 2024. Also, in India, the economy for online platforms is expected to be US$ 30 billion by 2025. Also, the use of waxed paper is done in food packaging due to its unique feature which extends the shelf life of the product and keeps the product safe. The packaging industry is also a key contributor to the growth of the waxed paper market. According to the data of Worldmetrics, the worldwide market for food packaging was summed at US$ 303.26 billion in 2020, and a compound annual growth rate for the food packaging market is expected to be 5.7% for the period 2021-2026. Thus, with the rising global food delivery services and food packaging industries, the demand for the water-soluble bag market is expected to boom.
Recent Trends in the Waxed Paper Industry
- Rising technological advances have resulted in better paper durability and heat resistance capacity.
- Pre-cut, easy-to-use Waxed paper sheets are extensively used in home and commercial kitchens.
- The use of waxed paper has found opportunities in the food packaging industry, such as gourmet cheeses and baked goods.
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Available Alternative and Environmental Awareness Limiting the Waxed Paper Market Growth
The first and foremost challenge faced by the manufacturers is the available alternatives available in the market. The direct alternatives for the waxed paper market are plastic wrap, bioplastic, compostable films, and aluminum foil where alternatives have superior barrier quality and affordability. Thus, the process of continuous advancement needs to be focused, or else the waxed paper market is expected to decline. Also, the rising awareness regarding the environment and changing consumer preferences may hamper the growth of the waxed paper market. The consumer prefers a sustainable and environmentally friendly option, which can directly affect demand for waxed paper products. Furthermore, the problem of price fluctuations is also being faced by various manufacturers where the price of waxed paper or the total cost structure is being disturbed due to the fluctuating prices of the raw material, which directly impacts the market and cost of the waxed paper.
New Innovations Driving the Market Demand
Major market players are focusing on developing products that fulfill the ongoing market demand which in turn expands its product portfolio. They also adopt various market strategies such as mergers, acquisitions, collaborations, etc. In May 2022, Eco-Products, a subsidiary of US-based packaging firm Novolex, launched a compostable wrap for food service companies offering takeaway and delivery. The wrap, made from wax paper, complied with ASTM D6868 certifications and was certified as compostable in commercial facilities by the Biodegradable Products Institute (BPI). Eco-Products stated that the packaging could be used by food service providers as a basket liner, food wrap, scale, or pick-up sheet. The wrap was suitable for containing sandwiches and compatible with both hot and cold snacks and other food items. Furthermore, the material was resistant to grease and moisture.
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United States and Asia Pacific Shows Lucrative Opportunity for Waxed Paper Market
North America can be considered a lucrative market for waxed paper products due to the growing on-the-go snacks and fast food consumption. Thus, the rising preference for snack consumption is expected to grow the market for waxed paper. As per the data of the World Population Review, the United States has the highest number of fast food customers. According to the data, 83% of the population consumes fast food on a weekly basis, and 37% of the total population consumes fast food on a daily basis. On average, an individual consumes fast food 1-3 times per week. Thus, due to the rising fast food demand in the United States, the demand for waxed paper is expected to boom in the United States. Also, the demand for waxed paper packaging is expected to grow in the Asia-Pacific region due to the increasing e-commerce industry. According to the Indian Brand Equity Foundation, the e-retail market for India is forecast to surpass the mark of US$ 160 billion by 2028. Also, according to the data from the International Trade Administration, China is considered the largest market for the e-commerce segment globally, where the transaction in 2020 reached US$ 2.29 trillion and is expected to reach US$ 3.56 trillion by the end of 2024. Thus, due to rising e-commerce and e-retail industries, the demand for waxed paper is expected to rise sharply in the Asia-Pacific region.
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The report provides a detailed overview of the waxed paper market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for the waxed paper market has been offered for all regional market shares, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the waxed paper market. These Y-o-Y projections on regional and country-level markets brighten the political, economic, and business environment outlook, which is anticipated to have a substantial impact on the growth of the waxed paper market. Some key countries and regions included in the waxed paper market report are as follows:
| Regions | Countries |
|---|---|
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Poland, Netherlands, Switzerland, Belgium, Sweden, Austria, Norway, Denmark, Czech Republic, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Singapore, Malaysia, Thailand, Vietnam, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Nigeria, Egypt, Turkey, Morocco, Algeria, Israel, Iran, Iraq, Kenya, Ethiopia, Rest of MEA |
Waxed Paper Market Research Report Covers In-depth Analysis on:
- Waxed paper market detailed segments and segment-wise market breakdown
- Waxed paper market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in waxed paper industry)
- Current, historical, and forthcoming 10 years market valuation in terms of waxed paper market size (US$ Mn), volume (Tons), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Waxed paper market demand analysis
- Waxed paper market pricing analysis over the forecast period (by key segment and by region)
- Waxed paper market regional insights with the region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in the waxed paper market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in waxed paper market
- Waxed paper market sales and distribution strategies
- A comprehensive overview of the parent market
- A detailed viewpoint on the waxed paper market forecast by countries
- Mergers and acquisitions in waxed paper market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What are the key factors driving the growth of the waxed paper market?
The increasing demand for sustainable food packaging, rising preference for biodegradable materials, and growing applications in bakery and confectionery industries are major factors propelling the waxed paper market forward.
What is the future outlook for the waxed paper market?
The future of the market looks promising due to increasing environmental regulations favoring biodegradable packaging and the rising adoption of waxed paper across food, industrial, and personal care applications.
Which region dominates the waxed paper market?
North America and Europe lead the market due to strict sustainability regulations and high consumer awareness, while Asia-Pacific is witnessing rapid growth driven by expanding food service and packaging industries.
