Eco-Friendly Food Packaging Market Packing for a Greener Future Combats Plastic Pollution 2024-2031

Eco-friendly Food Packaging Market to reach over USD 437.3 Bn by the year 2031 - Exclusive Report by InsightAce Analytic

"Eco-friendly Food Packaging Market" in terms of revenue was estimated to be worth $215.7 billion in 2023 and is poised to reach $437.3 billion by 2031, growing at a CAGR of 9.40% from 2024 to 2031 according to a new report by InsightAce Analytic.

Get a free sample copy of the report: https://www.insightaceanalytic.com/request-sample/1398

Latest Drivers Restraint and Opportunities Market Snapshot:

Key factors influencing the global eco-friendly food packaging market are:
• Technological advancement
• Rising need for affordable packaging
• Raising customer awareness regarding plastic product

The following are the primary obstacles to the eco-friendly food packaging market 's expansion:
• Increasing developments in packaging
• Problems with infrastructure and adoption
• High cost

Future expansion opportunities for the global eco-friendly food packaging market include:
• Raising spending on research and development
• Increasing the population
• Positive outlook for the green packaging industry's future growth

Market Analysis:

Eco-friendly packaging refers to a product packaging environmentally friendly approach that can readily be broken down afterward. No physical, biological, or chemical contamination or manipulation of the materials can be tolerated without proper containment. Rising interest in biodegradable packaging among food and drink producers bodes well for the industry's future. Developing more efficient and environmentally friendly packaging technologies is driving demand in this sector.


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
• Other Market Players

Curious about this latest version of the report? @ https://www.insightaceanalytic.com/enquiry-before-buying/1398

Recent Developments:

• In January 2024, Tetra Pak and Absolicon, a solar thermal company based in Sweden, announced their collaboration to standardize a solution for industrial equipment powered by renewable thermal energy.

• In January 2024, BASF inaugurated a plant that produces thermoplastic polyurethane (TPU). With this new facility, BASF has the world's largest single TPU production line. Built with state-of-the-art technology, the smart factory improves efficiency with features like automatic guided trucks and modern automation systems.

• In Dec 2023, WestRock was recognized on the Corporate Equality Index, a glorious 100, the country's most prestigious survey and report that evaluates LGBTQ+ workplace equality policies and practices. The foundation for the Human Rights Campaign released the index. WestRock is among the 545 large U.S. companies that received high grades this year.

Eco-friendly Food Packaging Market Dynamics:
Market Drivers: Rising Need for Affordable Packaging

The market for biodegradable packaging is anticipated to be dominated by significant food and beverage companies. Food and beverage manufacturers progressively utilise recycled and reusable materials to reduce packaging waste and adhere to regulatory requirements. Using ecologically friendly packaging is becoming more and more common in the food and beverage industry, and it improves customer opinion of the brand. Additionally, this is promoting market expansion. Rising consumer awareness of the risks associated with plastic food packaging is anticipated to fuel industry expansion.

Challenges: High cost
Environmentally friendly packaging is expensive, which will be a big constraint on the market expansion throughout the outlook period. The significant expense of recycling packaging materials and the risk of raw material price fluctuations are the primary causes. These same constraints will hinder the market's expansion in the future. The abundance of affordable alternatives to environmentally friendly packaging, like paper bubble wrap, paper tape, and corn starch packaging, is anticipated to slow the eco-friendly packaging industry's expansion significantly.

North America is Expected to Grow with the Highest CAGR During the Forecast Period

The North America eco-friendly food packaging market is likely to register a significant revenue share and develop at a rapid CAGR in the near future. This is because this area is seeing a surge in the eco-friendly packaging market. Additionally, this region's growth will be further accelerated by the high demand for fast-moving consumer items and the growing preference of customers for environmentally friendly packaging. The market in this area will experience even greater growth as the food industry adopts more environmentally friendly packaging.

Segmentation of Eco-friendly Food Packaging Market-

By Type-

• Recycled Content Packaging
• Degradable Packaging
• Reusable Packaging

By Material-

• Paper & Paperboard
• Plastic
• Metal
o Cans
o Barrels & Drums
o Other Materials
• Glass
o Jars
o Bottles
o Tubes And Containers
• Other Packaging Materials

By Application-

• Food
o Bakery & Confectionery Products
o Convenience Foods
o Meat, Fish, And Poultry
o Fruits & Vegetables
o Dairy Products
o Other Food Products
• Beverages
o Alcoholic Beverages
o Non-Alcoholic Beverages

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
• Southeast 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

For More Customization @ https://www.insightaceanalytic.com/customisation/1398

Contact Us:
InsightAce Analytic Pvt. Ltd.
Tel.: +1 718 593 4405
Email: info@insightaceanalytic.com
Site Visit: www.insightaceanalytic.com
Follow Us on LinkedIn @ bit.ly/2tBXsgS
Follow Us On Facebook @ bit.ly/2H9jnDZ

About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions.
Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses.
We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products.
Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

This release was published on openPR.