Packaging solution providers are seeking ways to address issues related to sustainability objectives put forward by their clients. And this is currently more visible in the paper packaging vertical. The paper packing sector is slowly shifting towards the use of more environment friendly materials that has led to development of products such as the waxed paper, which is strong, compostable and biodegradable. In the near future, the global market for waxed paper packaging is tipped to emerge as a crucial packaging segment due to increasing availability of low cost waxed papers that offer users a pleasant touch experience and convenience. Waxed paper basically is manufactured by coating wax on paper products that are strictly use for packaging purpose. Such type packaging papers are approved in dairy, confectionery and sweets industry as they are much more efficient as compared to other packaging materials.
Market Dynamics
Waxed paper packaging materials are usually semitransparent and have a glossy outer surface. Hence, such paper packaging products are used to give an attractive look to baked goods, sweets, dairy products and confectioneries. Moreover, waxed paper packaging shows an impressive resistance to water, humidity and grease. Owing to its advanced respirational functionality, it is being increasingly used for packaging of cold meat and cheese. The aforementioned factor are likely to drive the growth of the global market for waxed paper packaging over the next couple of years. Further, they easily decompose and comply with most environmental norms. Some of these particular packaging products are available in custom designs with trendy color printings of them. Nonetheless, waxed paper packaging is limited to only certain food categories, which is expected to impede its overall market growth to a certain extent. Also, most waxed paper packaging material show poor resistance to extreme condition and require low temperature and ventilation in order to stay in best usable condition.
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Waxed Paper Packaging Market: Key Segmentation
The market for waxed paper packaging has been segmented into wax type, application type and product type. Based on wax type, the market has been segmented into mineral based wax and natural based wax. Mineral based waxes are usually obtained during the process of crude oil refining whereas natural waxes are commonly produced from processed vegetable oils (food additives or oleochemicals). These waxes are further modified to increase the gloss, slip and sealable property of the paper using special types of additives. Based of application, the market for paper packaging has been segmented into food market which is further sub-segmented into farm produce (dates and apples) and confectionary (candies, toffees, bubble gum sticks, etc.)
Such type of packaging are also finding application in toiletries and cosmetics sectors. They are typically used as soap wrappers as well as wrapping of gears, break disk, and sharp objects. Based on product type the market has been segmented into waxed brown crepe, waxed anti-corrosion paper, waxed kraft paper, and anti-slip paper.
Waxed Paper Packaging Market: Regional Analysis
On the basis of region, the waxed paper packaging market has been segmented into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa (MEA). The packaging industry is projected to register a strong growth rate in Asia Pacific in the years to come. Meanwhile, the markets in regions such as Europe and the North America are already witness impressive growth rates as the demand for such packaging products in these regions is significantly high.
Competitive Dashboard
Some top companies operating in the market for waxed paper packaging include CGP Coating Innovation, EuroWaxPack, Papertech Inc, Griff Paper and Film, Mil-Spec Pacakging of GA Inc, Grantham Manufacturing Ltd, Carlotte Packaging Ltd, Nicholas Paper Co. Inc, and Sierra Coating technologies LLC.
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