The eco-friendly food packaging market is projected to grow at a CAGR of 7.4% during the forecast period. According to MarketsandMarkets, the global eco-friendly food packaging market is estimated to be valued at USD 174.7 billion in 2020 and is projected to reach USD 249.5 billion by 2025, recording a CAGR of 7.4%, in terms of value. Factors such as the increasing demand for convenience foods and increasing awareness about health and wellness among consumers are projected to drive the growth of eco-friendly food packaging market during the forecast period. However, trash plastic produced due to the food & beverage industry is a major concern globally. However, consumers prefer an alternative to single-use plastics to reduce this waste. Therefore, packaging companies, nowadays, are focusing on manufacturing recyclable, reusable, and degradable packaging products. • By material, the paper & paperboard segment accounted for the largest share in 2019.
The paper & paperboard segment accounted for a major share in the global eco-friendly food packaging market in 2019.Packaging differs for the type of foods and beverages served.
Paper & paperboards are the most preferred packaging in the food & beverage industry due to their degradable nature and recyclable property.Ready-to-eat, on-the-go, and frozen & fresh foods are nowadays served and transported in the paperboard packaging, which is due to the rise in environmental hazards.
Rigid boxes are preferred for transportation. However, fresh products are served in flexible and molded paper & paperboards. • By application, the food segment is estimated to account for the largest share.
Based on application, the eco-friendly food packaging market is segmented into food and beverages others.The food segment is further sub-segmented into bakery & confectionery, convenience food, meat, fish & poultry, fruits & vegetables, dairy products, and other food products.
Furthermore, the beverages segment is further sub-segmented into alcoholic and non-alcoholic beverages segments.The food segment accounted for the larger share in 2019, acquiring approximately 70% of the overall market.
Consumers seek convenience food solutions due to lack of time.The expectations of food quality, hygiene, and growing health awareness are driving the eco-friendly packaging market in the food sector.
The bakery and confectionery and convenience foods are the two major contributors to this segment.
Europe accounted for the largest share in the eco-friendly food packaging market due to the strict government regulations and stringent policies regarding eco-friendly packaging.
The European eco-friendly packaging market is more regulated as compared to the North American region.The European Association of Plastics Recycling and Recovery Organization (EPRO) is promoting and organizing recycling and recovering plastics across Europe.
Various other organizations are also working constantly to manufacture eco-friendly packaging products by using recyclable and reusable materials.European government is taking measures and forming strategies to increase the use of edible packaging products in the food and beverage industry.
Extending the shelf life of products is a major concern for manufacturers.Companies in Europe are developing edible films and coatings for fresh fruits and vegetables.
This is also projected to help in reducing the wastage across the supply chain by reducing the use of plastics. While to reduce plastic usage, some countries in the European region are banning the use of single-use plastics. Also, the research and development activities in the region are focused on innovating more recyclable food packaging products to fuel the growth of the eco-friendly food packaging market.
The global eco-friendly food packaging market is segmented region-wise, with a detailed analysis of each region. These regions include North America, Europe, Asia Pacific, South America, and RoW (the Middle East & Africa).
Break-up of Primaries • By Value Chain: Manufacturers – 30.0% and Suppliers – 70.0% • By Designation: CXOs–44.0%, Managers –33.7%, and Executives–22.3% • By Region: US–60.0%, UK–20.0%, India –10.0%, and China–10.0%
Leading players profiled in this report include the following: • Amcor (Australia) • Mondi Group (Austria) • Sealed Air Corporation (US) • Ball Corporation (US) • Tetra Pak (Sweden) • Crown Holdings Inc. (US) • BASF (Germanys) • Huhtamaki Oyj (Finland) • Westrock (US) • Smurfit Kappa (Ireland) • Sonoco Products Company (US) • Evergreen packaging (US) • Elopak (Norway) • Winpak Ltd. (Canada) • Berry Global (US) • Printpak (US) • Paperfoam (The Netherlands) • Sustainable Packaging Industries (US) • GWP (England) • Swedbrand Groups (Hong Kong)
Research Coverage This report segments the eco-friendly food packaging market, on the basis of material, application, type, technique, and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, pricing insights, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the eco-friendly food packaging market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.
Reasons to buy this report • To get a comprehensive overview of the eco-friendly food packaging market • To gain wide-ranging information about the top players in this industry, their product portfolio details, and the key strategies adopted by them • To gain insights about the major countries/regions, in which the eco-friendly food packaging market is flourishing • To gain insights on the pricing point of material used during the packaging of food or beverages • Impact of COVID-19 on eco-friendly food packaging industry
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