PUBLISHER: The Business Research Company | PRODUCT CODE: 1391176
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391176
“Eco-Friendly Food Packaging Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on eco-friendly food packaging market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for eco-friendly food packaging? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The eco-friendly food packaging market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Eco-friendly food packaging involves the use of materials that are environmentally safe and capable of degradation when packaging food products. The primary objective is to prevent tampering or contamination from physical, chemical, or biological sources, with active packaging being a widely adopted method to ensure the safety of food items.
The key types of eco-friendly food packaging include recycled content packaging, reusable packaging, and degradable packaging. Degradable eco-friendly food packaging serves as an alternative to petrochemical-based polymers, utilizing common biodegradable materials like chitosan, starch, gelatin cellulose, and polylactic acid. Various materials, including paper and paperboard, metal, glass, and plastic, are employed in the process, utilizing techniques such as active packaging, molded packaging, multipurpose packaging, and alternate fiber packaging. These eco-friendly packaging solutions find applications in diverse sectors, including food and beverages, bakery and confectionery, dairy products, meat products, fruits and vegetables, convenience food, among others.
The eco-friendly food packaging market research report is one of a series of new reports from The Business Research Company that provides eco-friendly food packaging market statistics, including eco-friendly food packaging industry global market size, regional shares, competitors with an eco-friendly food packaging market share, detailed eco-friendly food packaging market segments, market trends and opportunities, and any further data you may need to thrive in the eco-friendly food packaging industry. This eco-friendly food packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The eco-friendly food packaging market size has grown strongly in recent years. It will grow from $233.39 billion in 2023 to $253.77 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth observed in the historical period can be attributed to several key factors, including a heightened environmental awareness and the pursuit of sustainability goals, government regulations and bans targeting single-use plastics, a noticeable shift in consumer preferences towards eco-friendly products, corporate initiatives focused on sustainability, and a collective effort to reduce carbon footprints across various industries.
The eco-friendly food packaging market size is expected to see strong growth in the next few years. It will grow to $364.28 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The anticipated growth in the forecast period can be attributed to several factors, including increased emphasis on recycling and circular economy initiatives, a growing focus on supply chain sustainability, the pursuit of cost savings and efficiency measures, the use of packaging solutions to enhance marketing and brand image, and the rise of e-commerce and home delivery practices. Major trends expected in the forecast period encompass innovations in biodegradable and compostable packaging, the implementation of smart and active packaging for enhanced food safety, collaborative efforts across the food industry value chain, and the increasing use of recycled and repurposed materials in packaging solutions.
The growth of the eco-friendly food packaging market is being driven by a rising consumer awareness of the drawbacks associated with plastic products in food packaging. The extensive use of single-use and non-degradable plastic packaging has detrimental effects on the environment, as plastic takes an extended period to decompose in landfills. The persistent presence of plastic waste poses significant harm to the environment, impacting plant and animal life, as well as human well-being. Countries like Germany and Austria lead in recycling waste, with rates of 56% and 52%, respectively, according to the World Economic Forum. Additionally, Wales has set ambitious recycling goals, targeting zero waste by 2050, while the EU is contemplating a new 2030 target of at least 65%. Increasing consumer awareness of the hazards associated with plastic food packaging is expected to fuel the growth of the eco-friendly food packaging market in the coming years.
The growth of the eco-friendly food packaging market is further propelled by the increased consumption of ready-to-eat food. Ready-to-eat food offers a convenient alternative to traditional meals, allowing consumers to enjoy meals at any time. Given the popularity of ready-to-eat and takeaway foods due to their convenience, the adoption of eco-friendly packaging aligns seamlessly, providing a sustainable and easy solution for packaging and consuming food on the go. According to Bizom, an India-based retail intelligence platform, sales of ready-to-eat products saw a significant surge of 9.1% in August 2021. The growing consumption of ready-to-eat food is expected to be a key driver for the eco-friendly food packaging market during the forecast period.
A notable trend in the eco-friendly food packaging market is the focus on technological advancement by major players. These companies are dedicating efforts to developing innovative technologies that facilitate a transition to environmentally friendly food packaging solutions, reducing environmental impact and minimizing plastic waste in landfills and oceans. For example, in October 2022, Huhtamaki Oyj, a Finland-based consumer packaging company, introduced an innovative and recyclable ice cream packaging solution based on paper-based technology. This packaging solution, composed of 95% renewable biobased material, utilizes a water-based barrier coating and SFI-certified paperboard, contributing to a reduction in packaging costs, waste, and environmental pollution. Technological advancements are expected to play a crucial role in shaping the eco-friendly food packaging market.
Major players in the eco-friendly food packaging market are strategically focusing on the introduction of recycled food packaging to gain a competitive advantage. Recycled food packaging involves the use of packaging materials for food products that have been previously used and processed for reuse in new packaging. This approach aids in reducing waste and mitigating the environmental impact associated with the production and disposal of packaging materials. In May 2021, Amcor, a Switzerland-based packaging company, launched recycled food packaging for powdered chocolate in Colombia. The newly introduced packaging solution is designed to adhere to industry standards for recyclability. Notably, this solution reduces the package's carbon footprint by 53% and water consumption by 84% when recycled.
In July 2021, ProAmpac, a US-based company specializing in sustainable and creative packaging products, successfully acquired Ultimate Packaging Ltd. for an undisclosed amount. This strategic acquisition enables ProAmpac to expand its sustainable product portfolio, enhance its position in creative food packaging, and extend its market reach across the UK. Ultimate Packaging, a UK-based company, is renowned for providing creative packaging solutions and state-of-the-art printing techniques. The company actively supports the entire supply chain with a range of innovative and environmentally friendly packaging products. This strategic focus on recycled food packaging is expected to play a pivotal role in shaping the competitive landscape of the eco-friendly food packaging market.
Major companies operating in the eco-friendly food packaging market include Amcor PLC, Mondi PLC, Sealed Air Corporation, Ball Corporation, Tetra Pak International SA, BASF SE, Huhtamaki Oyj, MeadWestvaco and RockTenn, Smurfit Kappa Group, Sonoco Products Co., Pactiv Evergeen Inc., European License Of PURE-PAK, Winpak Ltd., Printpak Holdings Inc., PaperFoam BV, Be Green Packaging, DS Smith PLC, DuPont de Nemours & Company, Crown Holdings Inc., Ardagh Group Company, PlastiPak Holdings Ltd., Uflex Limited, Graphic Packaging, Vegware Ltd., LimeLoop, Notpla Ltd., EcoEnclose LLC, Genpak LLC, Biopak Pty Ltd., Stora Enso Oyj, International Paper Company, Novamont S.p.A., NatureWorks LLC, Tetra Laval, Berry Global Inc., Reynolds Group Holdings Limited, Pactiv LLC, BioMass Packaging, Sabert Corporation, World Centric
North America was the largest region in the eco-friendly food packaging market in 2023. The regions covered in the eco-friendly food packaging market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the Eco-Friendly Food Packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The eco-friendly food packaging market consists of sales of biodegradable material, sustainable packaging, green packaging, environmentally-friendly packaging, recyclable, reusable, and non-toxic material. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.