London, 18 May 2015: Technavio, the independent tech-focused global research firm, has published a report on the food contact paper market in the US 2015-2019, which is expected to grow steadily at a CAGR of 6.43% in terms of revenue during the forecast period of 2014-2019.
Food contact paper packaging material is flexible, and provides protection to the food from external elements such as air, dust, and moisture. Reduction of food wastage has become a major concern in the US. Many fast food companies are using contact papers for their products, serving in the food service and take-out food industries. As these papers are easy to handle, hygienic, and easily disposable, they reduce the cost for fast food vendors as a replacement for plates.
“Manufacturers of food products prefer food contact paper and board for cost-efficient packaging as their light weight and durability allow for reduced transportation and handling costs,” says Faisal Ghaus, Vice President of Technavio.
“Retailers and product manufacturers also use paper packaging materials to distinguish their products from those of competitors in terms of brand visibility.”
Key Market Drivers
- Growing adoption of paper packaging
- Urbanization and changes in eating habits
- Easy disposal and reduction of costs
Key Market Trends
- Growing demand for biodegradable packaging products
- Shift toward water-based barrier coatings
- Use of silicone coatings
Key Market Vendors
- International Paper Co.
- Mondi plc
- Georgia-Pacific
- Smurfit Kappa Group plc
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
