According to the Market Statsville Group (MSG), the global eco-friendly food packaging market size is expected to grow from USD 169.42 million in 2022 to USD 360.28 million by 2033, at a CAGR of 7.10% from 2023 to 2033. Eco-friendly food packaging produced using various techniques such as active packaging, molded packaging, and multipurpose packaging are trending globally. With the increasing incidences of food-borne illness, food manufacturers are moving toward active antimicrobial packaging to avoid the food from contamination. Increased demand for on-the-go products due to the hectic lifestyle of consumers is expected to drive the growth of the packaging industry. On the other hand, technological advancement is a key trend gaining popularity in the eco-friendly food packaging market. Major market players are concentrating their efforts on creating innovative technologies for migrating to environmentally friendly food packaging solutions to reduce environmental impact and keep plastic out of landfills and the ocean.
Drivers: Growing awareness among people and consumer preferences toward recyclable and eco-friendly packaging materials
In the present scenario, eco-friendly food packaging plays a prominent role in food & beverage industry. The packaging industry is now at the nexus of environmental protection, social justice, and economic growth issues. Besides, the growing literacy rates, working population, and standard of living, individual’s interest have grown more responsive in the health and hygiene standards related to food products. Also, the focus of customers inclined towards price to quality in the present scenario, especially in the urban and a few semi-urban areas. Thus, the robust growth of the urban population and improved healthy lifestyle of individual create a high demand for eco-friendly packaging, paving the way for higher growth of market. According to the United Nations Department of Economic and Social Affairs, in 2018, nearly 55% of the world population lives in urban areas, and by 2050, this estimation is likely to grow at around 68%. Thus, the rising public awareness towards the adoption of recycled and eco-friendly packaging has influenced manufacturing sector to make commitments to sustainable packaging, thereby augmenting the growth for eco-friendly food packaging market.
Request Sample Copy of this Report: https://www.marketstatsville.com/request-sample/eco-friendly-food-packaging-market?utm_source=free&utm_medium=harsh
Restraints: High cost of recycling processes and poor infrastructure
Advances in food processing and food packaging play a primary role in keeping the food supply safe and easy to carry. Where recycling the waste from food packaging is quite challenging which hampers the growth of eco-friendly food packaging market. In the United States, waste is generally managed and leakage to marine environments is low, but recovery rates for packaging and food-service plastic are about 28%. The recycling and recovery of US plastic packaging and food-service plastic represents a pool of earnings before interest, tax, depreciation, and amortization (EBITDA) of US$2 billion to US$4 billion per year. Additionally, the other cost charged for collection and sortation methods, recovery capabilities are unimaginable.
Opportunities: Rise in Penetration of E-commerce Sector
E-commerce penetration has changed the way food business is performed all over the region. Over the last few decades, e-commerce has become a crucial part of the international food delivery industry as internet penetration, and smartphone adoption is growing in personal and commercial applications. Besides, the area of online to offline (O2O) commerce is increasing the usage of online food delivery (online FD) platforms. The rise of online FD has revolutionized the way that many customers and food suppliers interact; therefore, food retailers are looking for sustainable food packaging solutions. According to Gloria Food, nearly 48% (around 2 billion) of the total U.S. population ordered a meal via online platforms in 2016, up from 22% (637 million) from 2011. Further, in 2018, it is estimated that nearly 68% of the U.S. people ordered food items via online platforms. Therefore, the demand for eco-friendly food packaging is gaining a high growth potential in the e-commerce food market as it can be easily recycled and provide a sustainable environment. Additionally, the technological advancements and investment for better packaging material which is easily recyclable and made of recycled materials, which in turn boosting the demand and create lots of opportunities for the market in the forecasting years.
Scope of the Global Eco-Friendly Food Packaging Market
The study categorizes the eco-friendly food packaging market based on material type, packaging, product and application area at the regional and global levels.
By Packaging Outlook (Sales, USD Billion, 2019-2033)
- Paper & Paperboard
- Plastic
- Starch-Based
- Cellulose-Based
- Polylactic Acid (PLA)
- Other
- Glass
- Cornstarch
- Bubble Wrap Packaging
- Metal
- Rice Husk
- Gelatin Films
- Others
By Product Outlook (Sales, USD Billion, 2019-2033)
- Boards & Trays
- Bottles
- Containers
- Jars
- Box
- Milk & Other Beverage Cartons
- Tub
- Tableware
- Others
By Material Type Outlook (Sales, USD Billion, 2019-2033)
- Biodegradable
- Recyclable
- Compostable
- Reusable
- Natural fiber
- Plant based
- Non- toxic material
By Application Outlook (Sales, USD Billion, 2019-2033)
- Food and Beverage
- Bakery and Confectionery
- Others
By Region Outlook (Sales, USD Billion, 2019-2033)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- The Netherlands
- Norway
- Czech Republic
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Thailand
- Singapore
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Northern Africa
- Rest of MEA
Direct Purchase Report: https://www.marketstatsville.com/buy-now/eco-friendly-food-packaging-market?opt=3338&utm_source=free&utm_medium=harsh
Biodegradable segment accounts for the largest market share by material type
Based on the material type, the market is bifurcated into biodegradable, recyclable, compostable, reusable, natural fiber, plant based and non- toxic material. The biodegradable segment is expected to dominate the market share in 2022 in the global eco-friendly food packaging market. Rising price competitiveness with conventional packaging, increased relevance of sustainability in packaging materials, and higher performance brought about by additives and novel blending procedures in degradable packaging are driving the degradable packaging industry. Manufacturers are developing numerous biodegradable packaging options, such as edible and water-soluble packaging, which are also biodegradable and may be ingested or decomposed with the assistance of microorganisms and can thus be termed eco-friendly packaging.
Europe is projected to account for the highest market share by Region
Based on the regions, the global eco-friendly food packaging market has been segmented across North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Europe is projected to account for the highest market share in 2022. Europe has dominated business in recent years with a significant share due to strict legislation enacted by the European Union and other European countries addressing the use of single-use plastics. The European Directive established the circular economy idea, as well as sustainability requirements and goals. European firms have begun to follow the circular economy roadmap by adopting recyclable, recycled, and biodegradable products. Asia Pacific has risen to second position in terms of value in recent years, thanks to an increase in government regulations and initiatives pushing firms to adopt green packaging.
Key Market Players in the Global Eco-Friendly Food Packaging Market
The eco-friendly food packaging market is extremely cutthroat, and significant competitors in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.
Major key players in the global eco-friendly food packaging market are:
- Ball Corporation
- BASF
- Be Green Packaging
- Berry Global
- Crown Holdings Inc.
- DS Smith
- DuPont
- Elopak
- Evergreen Packaging
- Gwp Group
- Huhtamaki Oyj
- Mondi
- Nampak
- ondi Group
- Paperfoam
- Printpak Inc.
- Sealed Air
- Sealed Air Corporation
- Smurfit Kappa Group
- Sonoco Products Company
- Sustainable Packaging Industries
- Swedbrand Groups
- Tetra Laval
- Tetra Pak
- Westrock Company
- Winpak Ltd.
Request For Report TOC: https://www.marketstatsville.com/table-of-content/eco-friendly-food-packaging-market
Recent Development
- In July 2021, ProAmpac, a company engaged in offering sustainable and creative packaging products had acquired Ultimate Packaging Ltd.
Contact US:
Regional Research Reports (RRR)
414 S Reed St, Lakewood,
Colorado, 80226, USA
USA: +1 (646) 663–5829 | +91 702 496 8807
Email: sales@regionalresearchreports.com
Web: https://www.regionalresearchreports.com/
Comments
0 comment