Eco-friendly Food Packaging Market Exclusive Report with Detailed Study Analysis

The Eco-friendly Food Packaging Market Size is valued at USD 215.69 Billion in 2023 and is predicted to reach USD 437.29 Billion by the year 2031 at a 9.40 % CAGR during the forecast period for 2024-2031.

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Eco-friendly products are organically degraded into basic materials by biological organisms such as bacteria and fungi. These are often natural Eco-friendly goods that can be degraded by a biological process, such as those made of textiles, paper, wood, and food waste. Eco-friendly packaging provides naturally degradable protection for products from manufacturing to consumption, primarily for information, identity, presentation, and convenience.

The shift in consumer preferences toward recyclable and environmentally friendly packaging, stringent governmental regulations, and downsizing in the packaging industry are some of the factors propelling the growth of this market. Thanks to improved packaging technology that enables packaging production from non-petroleum products, the market for biodegradable food packaging is growing. Innovative products like edible and water-soluble packaging are also driving the market for biodegradable food packaging.

The demand for convenient food is expected to increase, and customers' awareness of health and well-being is expected to grow throughout the forecast period. These factors are expected to fuel the market for eco-friendly food packaging. The food and beverage industry is a major source of garbage plastic, though.

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List of Prominent Players in the Eco-friendly Food Packaging Market:
• AMCOR
• MONDI GROUP
• SEALED AIR CORPORATION
• BALL CORPORATION
• TETRA PAK
• CROWN HOLDINGS INC.
• BASF
• HUHTAMAKI OYJ
• WESTROCK COMPANY
• SMURFIT KAPPA GROUP
• SONOCO PRODUCTS COMPANY
• EVERGREEN PACKAGING
• ELOPAK
• WINPAK LTD.
• BERRY GLOBAL
• PRINTPAK INC.
• PAPERFOAM
• SUSTAINABLE PACKAGING INDUSTRIES
• GWP GROUP
• SWEDBRAND GROUPS

Market Dynamics:
Drivers-
Since non-biodegradable materials have a negative influence on the environment, customers are becoming more and more interested in eco-friendly food packaging items. As part of their purchase of food packaging, consumers are now choosing eco-friendly straws and wooden spoons. In the food service industry, items made of paper or biodegradable substitutes replace single-use plastic meal trays, straws, lids, closures, and lids. Because consumers are becoming more accustomed to convenience and packaged meals, the market for eco-friendly food packaging will only continue to grow.

Challenges
Inadequate recycling infrastructure is anticipated to impede the market growth. Recycling plastic bottles is much more expensive than making new ones. Recycling businesses would still be unable to compete with newly manufactured goods even if local governments provided them with cash incentives in addition to selling recycled materials. The infrastructure for recycling needs to be funded by the producer as well. Recycling occurs only in sectors where a costlier component of the production process makes recycling worthwhile.

Regional Trends:
The European Eco-friendly Food Packaging market is expected to register a major market share in revenue and is projected to grow at a high CAGR shortly because the European Union has rigorous government restrictions against the use of single-use plastics, which are bad for the enviEuropean Directive defined the circular economy framework and sustainability standards. European companies have started implementing the circular economy goal by using recyclable, recycled, and biodegradable products. Besides, Asia Pacific has a substantial share in the Eco-friendly Food Packaging market because of their busy schedules; consumers are becoming more interested in convenience foods like pre-made or packaged meals (which require less additional preparation by the consumer). Most of the world's manufacturing is located in China, which is also modifying its packaging practices and materials to be more environmentally friendly.

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Recent Developments:
• In February 2020, with creative, environmentally friendly designs, Mondi joined Carto, a leader in Mexican corrugated packaging, to penetrate a new market.
• In October 2019, Smurfit collaborated with specialty brewer Vanhonsebrouck (Belgium) to build a proper circular supply chain and production line, significantly modifying its current production process to incorporate recyclable cans rather than glass to offer an eco-friendly packaging choice.

Segmentation of Eco-friendly Food Packaging Market-
By Material-
• Paper & Paperboard
• Plastic
• Metal
• Glass
By Application-
• Food
• Beverages
By Type-
• Recycled Content Packaging
• Degradable Packaging
• Reusable Packaging
By Technique-
• Active Packaging
• Molded Packaging
• Alternate Fiber Packaging
• Multipurpose Packaging
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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