Future Market Insights
Packaging manufacturers are finding ways to solve the sustainability objectives of their clients, particularly the players operating in the paper packaging market segment. Paper packaging industry is showcasing inclination towards eco-friendly materials by developing products such as waxed paper packaging material which is biodegradable, strong and compostable in nature. The global waxed paper packaging market is expected to emerge as a key packaging segment owing to the supply of cost effective waxed papers which offer user convenience and pleasant touch experience.
Waxed paper packaging products are manufactured by applying a waxy coating on the paper products used for packaging purpose. These waxy coating on paper prevents products such as confectionery, dairy, sweets, etc., from drying out and sticking to the packaging material. Waxed paper packaging products are produced using wholly sustainable and renewable resources and they can either be in the form of coating or completely impregnated with wax. Material used for manufacturing of waxed paper packaging products are derived entirely from wood pulp which makes the products suitable for complete disposal.
Waxed Paper Packaging Market: Market Dynamics
Waxed paper packaging products with their high gloss value and semitransparent nature gives food products a high quality image. Food packaging market particularly for the application of sweets, confectioneries, baked goods and dairy products have fuelled the demand for waxed paper packaging products.
Waxed paper packaging products are hydrophobic in nature which prevents humidity, water and grease to come in contact with the packed goods. Respirational functionality of the waxed paper packaging material allows products such as the cheese and cold meats from sweating. Food products packed in waxed paper packaging materials have longer shelf life. Furthermore, there is growing preference for waxed paper packaging due to cost effective packaging solution offered by waxed paper packaging materials. Another factor promoting the growth of waxed paper packaging market is the biodegradable nature of paper and wax. Excellent stiffness, non curl feature, maximum surface retention and high scuff resistance of the paper is also promoting the growth of the waxed paper packaging market. Waxed paper packaging materials offer custom printing and color matching features owing to low porosity of wax paper that allows retention of ink on the surface.
However waxed paper packaging materials cannot be used for packaging of all kinds of food products which restricts the market potential for wax paper packaging market. Moreover, waxed paper packaging material require ventilation and low temperature in order to be maintained in appropriate condition.
Waxed Paper Packaging Market: Market Segmentation
The waxed paper packaging market can be segmented on the basis of product type, wax type and application type. The waxed paper packaging market can be segmented on the basis of product type into waxed kraft paper, waxed brown crepe, anti-slip paper and waxed anti-corrosion paper. The waxed paper packaging market can be segmented on the basis of wax type into natural based wax and mineral based wax. Natural waxes are produced from modified vegetable oils (oleochemicals, or food additives) and mineral based waxes are purified from crude oil refining processes. These waxes can also be modified to enhance the slip, gloss and sealable property of the paper through addition of additives. On the basis of applications the waxed paper packaging market can be segmented into food market which can be further segmented into confectionary (toffees, candies, bubble gum sticks, etc.) and farm produce (apples and dates). Waxed paper packaging materials have applicators into cosmetics and toiletries market for soap wrappers, and into industrial packaging for wrapping of sharp objects, break discs and gears.
Waxed Paper Packaging Market: Regional Outlook
Geographically, the waxed paper packaging market is segmented into five key regions: North America, Asia Pacific, Europe, Latin America and Middle East and Africa. The packaging industry is expected to witness highest growth rate in the Asia Pacific region while the market is expected to be dominated by the North American and European region as the demand in these regions is quite high.
Waxed Paper Packaging Market: Key Players
Some of the key players in waxed paper packaging market are CGP Coating Innovation, Grantham Manufacturing Ltd, EuroWaxPack, Carlotte Packaging Ltd, Papertech Inc, Nicholas Paper Co. Inc, Griff Paper and Film, Sierra Coating technologies LLC, and Mil-Spec Pacakging of GA Inc.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.