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The Eco-friendly Food Packaging Market Size is valued at USD 215.69 Billion in 2023 and is predicted to reach USD 437.29 Billion by the year 2031 at a 9.40 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The development of novel packaging materials, rising environmental consciousness, regulatory mandates, and consumers' insatiable need for convenience are all factors that could propel the market forward.
- Customers' busy lifestyles are predicted to fuel the need for items that can be easily transported, leading to an expansion in the packaging business.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- The abundance of affordable alternatives to environmentally friendly packaging, like paper bubble wrap, paper tape, and corn starch packaging, is anticipated to slow the eco-friendly packaging industry's expansion significantly.
Biological agents like bacteria and fungi organically break down eco-friendly items into parts. These products are frequently made of natural materials, including wood, paper, textiles, and food waste; biological processes can break down. For information, identity, presentation, and convenience, eco-friendly packaging entails using naturally degradable materials to safeguard items from manufacturing to consumption. Some of the factors driving the growth of this market include the shift in customer preferences toward recyclable and eco-friendly packaging, tight governmental regulations, and downsizing in the packaging industry. The demand for biodegradable food packaging is expanding thanks to more advanced technology in the packaging industry for creating packaging using non-petroleum goods. The biodegradable food packaging market is also driven by cutting-edge interests like edible and water-soluble packaging.
The demand for convenient meals is likely to rise, and customers' health and wellness knowledge is expected to grow over the projection period. These reasons are projected to drive the market for environmentally friendly food packaging. However, the food and beverage business is a significant contributor to waste plastic, and consumers seek alternatives to single-use plastics to reduce waste. As a result, packaging businesses are increasingly focusing on providing recyclable, recycled, and biodegradable packaging materials, which will enhance customer demand for ecologically friendly food packaging.
Competitive Landscape
Some Major Key Players In The Eco-Friendly Food Packaging Market:
- Amcor,
- Mondi Group,
- Sealed Air Corporation,
- Ball Corporation,
- Tetra Pak,
- Crown Holdings Inc.,
- BASF,
- Huhtamaki Oyj,
- Westrock Company,
- Smurfit Kappa Group,
- Sonoco Products Company,
- Evergreen Packaging,
- Elopak, Winpak Ltd.,
- Berry Global,
- Printpak Inc.,
- Paperfoam,
- Sustainable Packaging Industries,
- Gwp Group
- Swedbrand Groups
- Other Market Players
Market Segmentation:
The Eco-friendly Food Packaging market is segmented on material, application, type and technique. Based on material, the market is segmented into Paper & Paperboard, Plastic, Metal (Cans, Barrels & Drums, Other Materials), Glass (Jars, Bottles, Tubes And Containers), Other Packaging Materials. Based on the application, the Eco-friendly Food Packaging is segmented into Food (Bakery & Confectionery Products, Convenience Foods, Meat, Fish, And Poultry, Fruits & Vegetables, Dairy Products, Other Food Products), Beverages(Alcoholic Beverages, Non-Alcoholic Beverages). Based on type, the market is segmented into Recycled content packaging, Degradable packaging and Reusable packaging. Based on technique, the market is segmented into Active Packaging, Molded Packaging, Alternate Fiber Packaging and Multipurpose Packaging.
Based On Material, The Paper & Paperboard Segment Is Accounted As A Significant Contributor To The Eco-Friendly Food Packaging Market.
The paper & paperboard category dominated the market. The transportation of bulk food and beverage goods and the widespread usage of paper and paperboard in the food service and retail industries are to blame for this. Paper and paperboard are the most popular packaging materials in the food and beverage industry due to their degradability and recyclable qualities. Due to increased environmental concerns, ready-to-eat, on-the-go, frozen, and fresh meals are increasingly offered and delivered in paperboard packaging.
The Food Segment Witnessed Growth At A Rapid Rate.
The food category regarding revenue dominated the market for eco-friendly food packaging worldwide. The food section also includes convenience foods, fruits and vegetables, dairy and meat products, bakery and confectionery, and bakery and confectionery. Because food items like meat, vegetables, fruits, and other perishables must be consumed fresh, eco-friendly packaging is frequently utilized. Additionally, rising consumer preferences for hygiene have facilitated market expansion. In addition, the rising demand for convenience foods and the increasing number of working women are the main drivers of segment revenue growth.
The European Eco-Friendly Food Packaging Market Holds A Significant Revenue Share In The Region.
The European Eco-friendly Food Packaging market is expected to register the highest market share in revenue in the near future because the use of single-use plastics, which are detrimental to the environment, is strictly prohibited by government regulations in the European Union. The European Directive established the guidelines for the circular economy and sustainability norms. European businesses are implementing the circular economy goal by utilizing recyclable, recycled, and biodegradable materials. In addition, Asia Pacific is projected to grow rapidly in the global Eco-friendly Food Packaging market due to customers' busy lifestyles; there is an increase in demand for convenience foods such as packed meals or pre-prepared meals (which require less additional preparation by the consumer). China, home to most of the world's manufacturing, is changing its packaging practices and materials to be more environmentally friendly. Due to the substantial amount of goods exported from China, this choice will significantly impact market revenue growth in the area.
Recent Developments:
- In Aug 2023, Amcor recently introduced its curbside-recyclable AmFiberTM Performance Paper packaging in North America, as part of its AmFiber range. Performance paper, which has been prequalified by How2Recycle®, adheres to the repulpability criteria required for curbside recycling. This enables brands to offer consumers packaging that has more sustainable end-of-life outcomes.
- In Dec 2022, BASF SE and StePac Ltd. partnered to create an innovative and environmentally friendly packaging solution specifically suited for the fresh produce industry. BASF provided StePac with Ultramid® CcycledTM, a chemically recycled polyamide 6, which allowed the partner to improve contact-sensitive packaging shapes to a higher level of sustainability within the circular economy.
Eco-friendly Food Packaging Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 215.69 Billion |
|
Revenue Forecast In 2031 |
USD 437.29 Billion |
|
Growth Rate CAGR |
CAGR of 9.40 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
Material, Application, Technique, Type |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Cargill Incorporated, Archer Daniels Midland Company (ADM), Ingredion, DuPont, Roquetee Freres, Pyure Brands LLC., Steviahubindia, Fooditive Group, Foodchem International Corporation, Evolva, Wisdom Natural Brands, GLG Life Tech Corp., and MacAndrews & Forbes Incorporated. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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