PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515548
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515548
Eco-Friendly Food Packaging Market size was valued at USD 2,15,698.2 Million in 2023, expanding at a CAGR of 8.00% from 2024 to 2032.
Eco-friendly packaging is a packaging solution in which a product is packaged with ecologically friendly materials that are easily degradable. Materials must be contained to avoid contamination or tampering from chemical, physical, or biological sources. Such packaging is made primarily from renewable raw materials, resulting in a lower environmental effect during operation, development, and disposal.
Eco-Friendly Food Packaging Market- Market Dynamics
Increasing Consumer Awareness of the Hazards of Using Plastic Products for Food Packaging
The increased consumer awareness of the disadvantages of plastic goods for food packaging is propelling the eco-friendly food packaging market. The widespread use of single-use and non-biodegradable plastic packaging harms the environment. Plastic takes hundreds of years to disintegrate in a landfill. For that lengthy period, the plastic trash will remain in the environment, causing numerous environmental problems and ultimately harming the lives of plants, animals, and humans. According to the World Economic Forum research, countries such as Germany and Austria are leaders in garbage recycling, with rates of 56% and 52%, respectively. Furthermore, some governments, such as Wales, have set ambitious recycling goals for themselves. Wales aims to have zero waste by 2050, while the EU is adopting a new 2030 target of at least 65%.
Eco-Friendly Food Packaging Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 8.00% over the forecast period (2024-2032)
Based on Process segmentation, Reusable Packaging was predicted to show maximum market share in the year 2023
Based on Material Type segmentation, The paper segment is the fastest-growing eco-friendly food packaging material.
Based on region, Asia-Pacific was the leading revenue generator in 2023
The Global Eco-Friendly Food Packaging Market is segmented based on Process, Material Type, End-User Industry, and Region.
The market is divided into three categories based on Process: Reusable Packaging, Degradable Packaging, and Recycled Packaging. The Reusable Packaging category accounted for the greatest revenue share in 2023 and is predicted to expand at a quicker rate over the forecast period. This section includes materials including paper, plastic, glass, and metal. Manufacturers reuse these materials as raw materials to create new packaging goods, hence minimizing pollution caused by packaging garbage. The recycled content packaging is inexpensive and can be reused numerous times. It includes both pre-and post-consumer waste materials. The pre-consumer waste material is comprised of rubbish generated during the manufacturing process. This decreases the cost and lessens the demand for natural resources.
The market is divided into four categories based on Material Type: Glass, Plastic, Metal, and Paper. The paper segment is the fastest-growing Eco-Friendly Food Packaging material. The growing popularity of online shopping, combined with environmental restrictions on non-biodegradable and non-recyclable packaging options, is creating a strong demand for eco-friendly paper packaging solutions. In February 2021, Coca-Cola completed its first test on paper bottles made of an extra-tough paper exterior with a thin plastic liner. The first test will use 2,000 bottles to see how well they hold up. To prevent carbonated beverages from releasing gas, the business intends to develop a recyclable bottle.
Eco-Friendly Food Packaging Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. Asia-Pacific is the largest revenue share in 2023. The top Chinese e-commerce sites and speedy delivery suppliers have been actively minimizing their use of packaging materials.
North America is predicted to increase at a 6.95% CAGR over the projection period. During the projection period, it is expected that rising consumer awareness and supportive government policies will boost demand for sustainable, biodegradable packaging in the United States.
In the Eco-Friendly Food Packaging Market Competitive Landscape, several companies are actively competing to produce sustainable packaging solutions for the food sector. Mondi (United Kingdom), Segezha Group (Russia), Klabin SA (Brazil), Billerudkorsnas (Sweden), and Stora Enso (Finland) are among the leading companies developing eco-friendly packaging materials that reduce environmental effects and promote recycling. These companies specialize in developing biodegradable, compostable, or recyclable packaging solutions to meet the growing consumer demand for sustainable and ecologically friendly food packaging. Understanding the competitive landscape of the eco-friendly food packaging market will assist stakeholders in identifying trends, innovations, and strategic collaborations that will drive sustainability in the packaging business.
In January 2022, Amcor PLC announced AmFiberTM, a new platform for paper-based packaging goods. AmFiber's inventions seek to rethink the utility of traditional paper packaging, providing a wide range of functional benefits to meet the evolving needs of consumers. This new platform's product is a unique solution designed to supply snacks and confectionary to European clients in recyclable packaging with a high barrier to oxygen and moisture.
GLOBAL ECO-FRIENDLY FOOD PACKAGING MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Mondi (U.K.)
Segezha group (Russia)
Klabin SA (Brazil)
Billerudkorsnas (Sweden)
Stora Enso (Finland)
Daio Paper Construction (Japan)
Nordic Paper (Sweden)
Glatfelter (U.S.)
Gascogne Papier (Austria)
Glatfelter Corporation (U.S.)
Tokushu Tokai Paper Co., Ltd. (Japan)
Goodwin Robbins Packaging Company Inc. (U.S.)
Oji Holdings Corporation (Japan)
CTI Paper USA (U.S.)
Canfor (Canada)
Genus Paper and Boards Limited (India)
Georgia-Pacific (U.S.)
Canadian Paper Packaging Ltd.(Canada)
Fujian Qingshan Paper Co., Ltd. (China)
Smurfit Kappa(US)
WestRock Company (Ireland)
SCG PACKAGING (Thailand)
International Paper (U.S.)
Others