With 7.2% CAGR, Eco-friendly Food Packaging Market Is Predicted to Reach a Size of US$ 380 Bn By 2032 | Fact.MR

The global eco-friendly food packaging market is expected to reach a size of US$ 380 billion by the end of 2032, as per data released by Fact.MR, a market research and competitive intelligence provider.

The market for eco-friendly food packaging is expanding as a result of rising consumer awareness of the harmful effects of utilizing single-use and non-biodegradable plastic goods for food packing. The environment is being negatively impacted by the widespread use of single-use and non-biodegradable plastic packaging materials. Plastic takes many years to disintegrate in a landfill, and throughout that time, it remains in the environment, harming the environment in various ways and ultimately endangering the lives of people, animals, and plants.

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The food business is switching to products manufactured from paper or compostable substitutes for single-use plastic straws, lids, closures, caps, cups, and food trays. Due to shifting customer tastes towards packaged and convenient food items, product demand in the food industry will continue to rise.
Market expansion has been fueled by consumer dissatisfaction with conventional packaging and government pressure to switch to eco-friendly materials. To lessen their ecological footprint, several firms recently embraced green packaging solutions.

The market for eco-friendly food packaging is being driven by strict government restrictions and technological advancements in the packaging industry to produce packaging using non-petroleum goods. The market is also being fueled by advanced goods such as edible and water-soluble packaging.

Key Takeaways from Market Study

• Demand for reusable packaging is projected to rise at a CAGR of 7% from 2022 to 2032
• Market in Japan is forecasted to progress at a CAGR of 6% over the forecast period (2022-2032).
• The global eco-friendly food packaging market is valued at US$ 190 billion in 2022.
• Market in Germany is estimated to develop at a CAGR of 6.5% through 2032.

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Competitive Landscape

To fulfil the growing demand for low-cost, highly effective biodegradable packaging materials, manufacturers are investing in cutting-edge technology. Innovative advanced technologies are also assisting businesses in providing packaging solutions catered to specific industries. Furthermore, the worldwide campaign against plastic is creating profitable opportunities for manufacturers to enter the market and entice customers with their goods.

For instance,

• In 2021, an eco-friendly chocolate pack was introduced by Amcor. The business created and produced recyclable plastic containers for cocoa powder.

Key Companies Profiled

• Mondi plc
• Pactiv Evergreen Inc.
• PaperFoam bv
• Printpack
• Amcor plc
• Ball Corporation
• BASF SE
• Berry Global, Inc.
• Crown Holdings, Inc.
• Elopak AS
• GWP Packaging
• Huhtamäki Oyj
• Smurfit Kappa Group plc
• Sonoco Products Company
• Swedbrandgroup
• Tetra Pak
• WestRock Company
• WINPAK LTD.

For More Insights: https://www.globenewswire.com/news-release/2022/11/01/2545780/0/en/US-380-Bn-Market-Valuation-Is-Anticipated-for-Eco-friendly-Food-Packaging-Market-Due-To-Waste-Management-by-Regulatory-Agencies-in-the-U-S-Fact-MR.html

Winning Strategy

Major players in the market are reinventing packaging materials and reimagining designs by working with end-user companies. The coordinated initiatives aim to increase the usage of recyclable and biodegradable materials, as well as their reusability and energy efficiency.

To increase the speed and flexibility of manufacturing processes and supply the appropriate packaging solutions, key producers are investing in extrusion coating and resin reclamation technology, which is projected to contribute to market expansion.

For instance,

• In 2019, utilizing high-speed flow wrap technology, Nestle Company unveiled a new recyclable paper wrapper for its 'YES' snack bars. This launch opened the door for the widespread use of recyclable paper packaging in the confectionery industry.
• In 2020, Ball Corporation confirmed the five aluminum packaging plants with the greatest operational and social sustainability advancements, along with developments in the areas having the greatest sustainability impact across processes, publicity of aluminum packaging sustainability credentials, and involvement in their local communities.

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Segments of Eco-friendly Food Packaging Industry Research

• By Type:

o Recycled Content Packaging
o Degradable Packaging
o Reusable Packaging

• By Material:

o Paper & Paperboard
o Plastic
o Metal
o Glass
o Others

• By Application:

o Food
o Beverages
 Alcoholic Beverages
 Non-Alcoholic Beverages

• By Region:

o North America
o Europe
o Asia Pacific
o Latin America

Global Eco-friendly Food Packaging Market Analysis and Forecast by Region

• North America Eco-friendly Food Packaging Market Size and Forecast, 2022-2032
• Germany Eco-friendly Food Packaging Market Size and Forecast, 2022-2032
• UK Eco-friendly Food Packaging Market Size and Forecast, 2022-2032
• France Eco-friendly Food Packaging Market Size and Forecast, 2022-2032
• Spain Eco-friendly Food Packaging Market Size and Forecast, 2022-2032
• Japan Eco-friendly Food Packaging Market Size and Forecast, 2022-2032
• China Eco-friendly Food Packaging Market Size and Forecast, 2022-2032
• Malaysia Eco-friendly Food Packaging Market Size and Forecast, 2022-2032
• Thailand Eco-friendly Food Packaging Market Size and Forecast, 2022-2032
• Australia Eco-friendly Food Packaging Market Size and Forecast, 2022-2032

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global eco-friendly food packaging market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.

The study divulges essential insights on the market on the basis of type (recycled content packaging, degradable packaging, and reusable packaging), material (paper & paperboard, plastic, metal, glass, others) and application (food, beverages), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).

Check out more related studies published by Fact.MR Research:
Microwaveable Liquid Food Packaging Market - Microwaveable liquid food packaging market has evolved as one of the prime convenience packaging driven market. Microwaveable liquid food packaging provides protection to the product while storing, transporting and furthering its utilization. The microwaveable liquid food packaging improves heating performance in a microwave and maintains its shelf life.

Polycoated Paper Packaging Market ( https://www.factmr.com/report/polycoated-paper-packaging-market ) - According to the study, the global polycoated paper packaging market is projected to grow at a significant rate during the years 2021-2031. The demand for polycoated paper packaging has increased because of its application in various industries like food and beverages, building and construction, chemicals, cosmetics and personal care, automotive, and so on.

Reusable Wrap Market ( https://www.factmr.com/report/3306/reusable-wrap-market ) - Fast-paced lifestyle, increasing living standards and technological advancements have widened the scope of convenience products market. This has led to the growth of eco-friendly alternatives to plastic wrap, such as reusable wrap for the benefit of consumers. The expanding food packaging industry is expected to increase the demand for the reusable wrap in the end-use application such as bread, baked goods and vegetables.

Biodegradable Packaging Material Market ( https://www.factmr.com/report/2063/biodegradable-packaging-material-market ) - The global biodegradable packaging materials market is estimated at USD 88 Billion in 2022 and is forecast to surpass USD 169 Billion by 2032, growing at a CAGR of 6.8% from 2022 to 2032. The global biodegradable packaging materials market accounts for ~9% of global packaging market in 2022 and is expected to expand due to augmented consumer spending on sustainable biodegradable packaging materials because of enhanced environment-consciousness.

Europe Biodegradable Packaging Market ( https://www.factmr.com/report/europe-biodegradable-packaging-market )- The European biodegradable packaging materials market is estimated at USD 2.94 Billion in 2022 and is forecast to surpass USD 5.5 Billion by 2032, growing at a CAGR of 6.4% from 2022 to 2032. Growth in the European biodegradable packaging market is attributed to the rise in the use of Biodegradable Packaging for end use industries like food & Packaging, consumer goods, pharmaceuticals commercial.

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