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Eco-Friendly Food Packaging Global Market Size is Expected to Reach $364.28 Billion By 2028 with CAGR of 9.5%
Eco-Friendly Food Packaging Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Eco-Friendly Food Packaging industry. This report on Eco-Friendly Food Packaging market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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 in the historic period can be attributed to environmental awareness and sustainability goals, government regulations and bans on single-use plastics, increased consumer preference for eco-friendly products, corporate sustainability initiatives, and reduced carbon footprint. 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%.
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Key Market Players:
Amcor PLC, Mondi PLC, Sealed Air Corporation, Ball Corporation, Tetra Pak International SA, BASF SE, Huhtamaki Oyj, MeadWestvaco and RockTenn, The Progressive Corporation are prominent players in the Eco-Friendly Food Packaging industry.
Market Drivers:
The growing consumer awareness about the drawbacks of plastic products for food packaging is driving the growth of the eco-friendly food packaging market. Widespread usage of single-use and non-degradable plastic packaging products affects the environment adversely. Plastic takes hundreds of years to decompose in a landfill and for such a long period the plastic waste will be there in the surroundings and cause several harms to the environment and ultimately harms the life of plants, animals, and human beings. For instance, according to the World Economic Forum report, countries such as Germany and Austria are the leaders in recycling waste at the rate of 56% and 52% respectively. In addition, some countries, such as Wales, have set lofty recycling goals for themselves. Wales is aiming for zero waste by 2050, while the EU is considering setting a new 2030 target of at least 65%.
More information about the Global Eco-Friendly Food Packaging Market Report -
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Market segments for Eco-Friendly Food Packaging include:
1) By Type: Recycled Content Packaging, Reusable Packaging, Degradable Packaging
2) By Material: Paper And Paperboard, Metal, Glass, Plastic, Other Materials
3) By Technique: Active Packaging, Molded Packaging, Multipurpose Packaging, Alternate Fiber Packaging
4) By Application: Food And Beverages, Bakery And Confectionery, Dairy Products, Meat Products, Fruits And Vegetables, Convenience Food, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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