The product is made from excess seaweed found in the Venice lagoon, and has been exhibited at the luxury packaging exhibition Luxe Pack in Monte Carlo.
It is available in ivory and white in 200gsm and is printed in soya-based ink.
Andrea Nappa, chief executive of Favini, said: "Luxury has been increasingly ecology-oriented for years now.
"Packaging is also following this direction and ecological contents are becoming an essential requirement."
The Italian paper manufacturer's papers are all FSC certified. The company is more than 100 years old and has two mills in Venice and Milan.
UK-based Keenpac Group offers global packaging products such as paper shopping bags, plastic shopping bags and tissue paper.