Eco-Friendly Food Packaging Market Size, Share & Trends Analysis Report Forecast Period 2024-2031.

Eco-friendly food packaging market is anticipated to grow at a significant CAGR of 7.5 % during the forecast period. The rising government initiatives for eco-friendly packaging across the globe due to rising health and environmental concerns are expected to propel the eco-friendly food packaging market growth during the forecast period. For instance, the Food Safety and Standards Authority of India (FSSAI) has taken an initiative towards reducing of plastic footprint in the F&B industry and pushed food businesses to eliminate single-use plastic in coming years and to develop environmental friendly substitutes and also an efficient plastic collection and recycling/disposal system in the F&B sector.

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Moreover, FSSAI has taken a lead in addressing these concerns by promoting innovative and alternative food packaging materials and also by continuously working on the risk assessment and safety of packaging materials. FSSAI has also organized many awareness programs towards plastic waste management and reduction of plastic footprint in the F&B industry.

Segmental Outlook

The global eco-friendly food packaging market is segmented based on the material type, packaging type, and application. Based on the material type, the market is sub-segmented into paper & paperboard, plastic, metal, and glass. Based on the packaging type, the market is further sub-segmented into recycled content packaging, degradable packaging, and reusable packaging. Based on the application, the market is augmented into beverages, bakery & confectionery, dairy products, meat products, fruits & vegetables, and convenience food. Among the application segment, the meat products and fruits & vegetables segments are expected to be the fastest-growing segment to keep the products fresh. The increasing awareness of hygiene among consumers is aiding market growth.

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The Paper & Paperboard Segment is Expected to Contribute to the Market Growth

Among the material type, the paper & paperboard segment is expected to contribute to the market growth during the forecast period due to its degradability and recyclable properties. The rising environmental and health concerns, manufacturers are pushed to deliver the end-products in paper or paperboard packaging. The companies are launching paper-based packaging solutions which will further drive the market growth. For instance, in February 2022, Amcor, a global leader in developing and producing responsible packaging solutions, launched a new platform for paper-based packaging products, AmFiber. The AmFiber innovations aim to redefine the capabilities of traditional paper packaging, providing a wider range of features and functional benefits to meet the changing needs of consumers.

by Material Type (Paper & Paperboard, Plastic, Metal, and Glass),

by Packaging Type (Recycled Content Packaging, Degradable Packaging, and Reusable Packaging), and

by Application (Beverages, Bakery and Confectionery, Dairy Products, Meat Products, Fruits and Vegetables, and Convenience Food)

Market Players Outlook

The major companies serving the global eco-friendly food packaging market include Amcor Plc, Ball Corp., BASF SE, Berry Global Inc., Crown Holdings Inc., Elopak AS, GWP Group Ltd., Huhtamäki Oyj, Mondi Plc, Pactiv Evergreen Inc., Paper foam BV, Printpack Inc., Sealed Air Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in April 2022, Packaging and paper maker Mondi launched two new recyclable packaging products, PerFORMing Monoloop and Mono Formable PP, for the food industry. PerFORMing Monoloop is a paper-based tray, while Mono Formable PP is a semi-rigid plastic tray. The company developed two new solutions to safeguard fresh food contents at every stage of the production and distribution process, which ensures lasts longer through intelligent design and the ability to use MAP (modified atmosphere packaging) to enhance shelf-life. Moreover, according to the company, the packaging prevents exposure to factors such as moisture, fumes, and grease and improves convenience and portion management while decreasing food waste.

The Report Covers

Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global eco-friendly food packaging market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.

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