North America Eco-friendly Food Packaging Market Share, Size, Future Demand, Global Research, Top Leading player, Emerging Trends, Region by Forecast | by Report ocean

Market Introduction

The North American eco-friendly food packaging market held a market value of USD 48,658.4 Million in 2020 and is forecasted to reach USD 67,818.9 Million by the year 2027. The market is expected to register a CAGR of 5.3% during the forecast period.

Eco-friendly food packaging refers to packaging which does not cause any harm to the environment. The market is anticipated to be driven by factors such as the increasing awareness amongst people and consumer preference towards recyclable and eco-friendly packaging materials. Furthermore, the rising demand for packaged food & ready to eat food coupled with advancements in food packaging technology is also expected to boost the market growth.
Despite these driving factors, the high cost of recycling processes and poor infrastructure are estimated to negatively hamper market growth. Furthermore, volatile raw material prices are also expected to hinder the market growth. During the COVID-19 pandemic, the market was severely affected owing to the closing down of hotels & restaurants and other food industries.

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Growth Influencers:

Growing awareness among people and consumer preferences towards eco-friendly and recyclable packaging materials

Packaging is one of the most vital components in the food business. It allows minimizing food wastage and product leakage. The packaging industry has witnessed tremendous growth in the past years. However, high use of single-use packaging containers has led to many ill effects on the environment. To curb these ill effects, people are preferring recyclable and eco-friendly packaging. Rising awareness regarding these materials is expected to boost market growth.

Advancements in food packaging technology

Increasing technological advancements in the food packaging industry are anticipated to drive market growth. These advancements include smart packaging, edible packaging, anti-microbial packaging, self-cooling & self-heating packaging, water-soluble packaging, flavor & odor absorber, and micro packaging, among others. The rising adoption of all such food packaging technologies is anticipated to fuel market growth.

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Segments Overview:

The North American eco-friendly food packaging market is segmented into material type, packaging material, product, and applications.

By Material Type
Biodegradable
Recyclable
Compostable
Reusable
Natural fiber
Plant-based
Non- toxic material

The biodegradable segment is expected to hold the largest share of about 19% owing to their high preference due to negligible impact on the environment. The non-toxic material segment is estimated to grow at the fastest rate as they have no ill effects on human health.

By Packaging Material,
Paper & Paperboard
Plastic
o Starch-Based
o Cellulose-Based
o Polylactic Acid (PLA)
o Others
Glass
Cornstarch
Bubble Wrap Packaging
Metal
Rice Husk
Gelatin Films
Others
The paper & paperboard segment is expected to hold the largest share and surpass USD 26,700 million by 2027. This is owing to their degradable nature and high preference in the food & beverage industry. The bubble wrap packaging segment is expected to grow at a CAGR of 7.4% during the forecast period.

By Product,
Boards & Trays
Bottles
Containers
Jars
Box
Milk & Other Beverage Cartons
Tub
Tableware
Others
The boards & trays segment is estimated to hold the largest share of around 32% owing to their high demand, while the jars segment is expected to grow at the fastest rate and cross USD 2,000 million by 2022.

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By Applications,
Food & Beverage
Bakery & Confectionery
Others
The food & beverage segment is expected to hold the largest market share as consumers prefer convenient food solutions, due to lack of time. Also, reusable and recyclable packaging materials are commonly used for the packaging of beverages, which also boosts the market growth. The bakery & confectionery segment is expected to grow at the fastest rate during the projected period.

Regional Overview

On a regional basis, the North American Eco-friendly food packaging market is segmented into the U.S., Canada, and Mexico.

The U.S. region accounted for the largest market share owing to the presence of major key players in the country. The market in Canada and Mexico is also expected to witness significant growth rates owing to the rising adoption of eco-friendly food packaging materials in the countries.

Competitive Landscape

Key players operating in the North America Eco-friendly food packaging market include Amcor, Ball Corporation, BASF, Be Green Packaging, Berry Global, Crown Holdings Inc., DS Smith, DuPont, Elopak, Evergreen Packaging, Gwp Group, Huhtamaki Oyj, Mondi, Nampak, Paperfoam, Printpack Inc., Sealed Air Corporation, Smurfit Kappa Group, Sonoco Products Company, Sustainable Packaging Industries, Swedbrand Groups, Tetra Laval, Tetra Pak, Westrock Company, and Winpak Ltd., among others.

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The major 13 players in the market are expected to hold around 33% share of the market. These market players are involved in collaborations, mergers & acquisitions, and new product launches to strengthen their market presence. For instance, in August 2021, Amcor partnered with Michigan State University for power innovation and talent in sustainable packaging. The company invested USD 10 million in this partnership.

Table Of Content:

Chapter 1. Research Framework
1.1 Research Objective
1.2 Product Overview
1.3 Market Segmentation
Chapter 2. Research Methodology
2.1 Qualitative Research
2.1.1 Primary & Secondary Sources
2.2 Quantitative Research
2.2.1 Primary & Secondary Sources
2.3 Breakdown of Primary Research Respondents, By Region
2.4 Assumption for the Study
2.5 Market Size Estimation
2.6. Data Triangulation

……..and view more in complete table of Contents

The North America Eco-friendly food packaging market report provides insights on the below pointers:

Market Penetration: Provides comprehensive information on the market offered by the prominent players
Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the North America Eco-friendly food packaging market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

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The North America Eco-friendly food packaging market report answers questions such as:

What is the market size and forecast of the North America Eco-friendly food packaging Market?
What are the inhibiting factors and impact of COVID-19 on the North America Eco-friendly food packaging Market during the assessment period?
Which are the products/segments/applications/areas to invest in over the assessment period in the North America Eco-friendly food packaging Market?
What is the competitive strategic window for opportunities in the North America Eco-friendly food packaging Market?
What are the technology trends and regulatory frameworks in the North America Eco-friendly food packaging Market?
What is the market share of the leading players in the North America Eco-friendly food packaging Market?
What modes and strategic moves are considered favorable for entering the North America Eco-friendly food packaging Market?

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What factors are taken into consideration when assessing the key market players?

The report analyzes companies across the globe in detail.

The report provides an overview of major vendors in the market, including key players.

Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.

This report includes a comparison of market competitors and a discussion of the standpoints of the major players.

Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.

It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.

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