Global Eco-Friendly Food Packaging Strategic Industry Report 2022-2024 and Forecasts to 2030 - U.S. Market is Estimated at $44.7 Billion, While China is Forecast to Grow at 9.3% CAGR
Wednesday, February 28, 2024
DUBLIN, Feb. 20, 2024 /PRNewswire/ -- The "Eco-Friendly Food Packaging - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
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Global Eco-Friendly Food Packaging Market to Reach $319.4 Billion by 2030
The global market for Eco-Friendly Food Packaging estimated at US$184.7 Billion in the year 2022, is projected to reach a revised size of US$319.4 Billion by 2030, growing at a CAGR of 7.1% over the analysis period 2022-2030.
Recycled Content Packaging, one of the segments analyzed in the report, is projected to record a 6.5% CAGR and reach US$137.8 Billion by the end of the analysis period. Growth in the Degradable Packaging segment is estimated at 7.8% CAGR for the next 8-year period.
The global economic landscape continues to evolve, with a growing emphasis on the principles of circular economy in the food industry. Amidst the challenges posed by the COVID-19 pandemic, the packaging industry faces testing times, leading to significant shifts in the packaging market. Despite these challenges, sustainable packaging of food products remains relevant, driving the adoption of eco-friendly packaging solutions.
In this competitive scenario, 131 players worldwide exhibit varying degrees of market presence, ranging from strong to niche. Eco-friendly packaging has emerged as a key focus area, with innovations and advancements turbocharging momentum in this segment. Salient trends in the food packaging domain emphasize sustainability and environmental responsibility, shaping the future of the industry.
As the demand for eco-friendly food packaging materials continues to grow, stakeholders are implementing strategies to enable a shift towards sustainable packaging practices. Recent market activity reflects a surge in innovation and investment in eco-friendly packaging solutions, underscoring the industry's commitment to sustainability.
Influencer market insights provide valuable perspectives on emerging trends and consumer preferences, guiding industry stakeholders in their efforts to navigate the evolving landscape of eco-friendly food packaging. With sustainability at the forefront of industry priorities, eco-friendly packaging solutions are poised to play a pivotal role in shaping the future of the food packaging industry.
The U.S. Market is Estimated at $44.7 Billion, While China is Forecast to Grow at 9.3% CAGR
The Eco-Friendly Food Packaging market in the U.S. is estimated at US$44.7 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$45.2 Billion by the year 2030 trailing a CAGR of 9.3% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$32.2 Billion by the year 2030.
MARKET TRENDS & DRIVERS
-- Why Is Food Packaging Industry Looking for Greener Pasteur?
-- Sustained Rise in Demand for Convenience and Packaged Foods to Fuel
Growth
-- Food Consumption Patterns to Influence Market Prospects
-- Pandemic Spurs Demand for Packaged Food & Beverages
-- Unabated & Unrelenting Use of Plastics Across Industries, Despite the
Growing Urgency of Plastic Pollution, to Sustain Demand for Eco-Friendly
Packaging
-- Huge Concerns over Plastic Pollution Throw Spotlight on Eco-Friendly and
Sustainable Packaging in Food Industry
-- As Packaging Industry Becomes the Largest Producer of Plastic Waste,
Focus Shifts onto Eco-Friendly Alternatives in Food Industry
-- Shifting Priorities in Food Packaging Push Up Sustainable Options
-- Notable Sustainability Initiatives in Food & Beverage Packaging Space
-- Sustainable Packaging Drive Needs Clear Regulatory Guidance as Support
-- Strict Government Regulations Drive Growth in Eco-Friendly Food
Packaging Market
-- Rising Eco-Consciousness of Consumers and Demand for Recyclable &
Eco-Friendly Materials to Boost Prospects
-- Market to Benefit from the Trend towards Downsizing of Packaging
-- Technological Advancements to Make Non-Fossil Fuel Based Packaging
Solutions to Drive Market Gains
-- Advent of Innovative Products to Fuel Demand for Eco-Friendly Food
Packaging
-- Natural Antiviral Agents for Producing Safer Food Packaging Materials
-- High Growth Opportunities in Green Packaging Market Bodes Well for the
Eco-Friendly Food Packaging Solutions
-- Notable Trends in the Global Eco-Friendly Food Packaging Market
-- Paper & Paperboard Emerges as a Sustainable Flexible Packaging Option
for Food Industry
-- Paper Packaging Experiences Mixed Impact of COVID-19 Pandemic
-- Flexible Paper Packaging Finds Growing Use in Food Industry
-- Growing Penetration of Corrugated Boxes in Food & Beverage Industry
-- Concerns over Environmental Pollution Caused by Plastic Bottles Use
Drives Focus onto Eco-Friendly Bottles
-- Paper-based Bottles: An Innovative Market with Tremendous Potential
-- PLA Emerges as a Sustainable, Eco-friendly Packaging Option for Water
-- Proper Recycling of Biodegradable Plastic Water Bottles: Essential for
Adopting Sustainable Options
-- Biodegradable Packaging Materials: Using Natural Sources to Degrade
Materials
-- Impact of COVID-19 on Biodegradable Food Packaging
-- Nanotechnology to Improve Degradability of Packaging Material
-- Bioplastics from Agro-Wastes Gain Demand for Food Packaging Applications
-- Rising Significance of Green Packaging Augurs Well for Biodegradable
Polymers Packaging in Food Industry
-- Customization & Shelf Life Advantages Fuel Use of Molded Fiber Trays for
Packaging in Food & Beverage Industry
-- Rising Consumption of Eggs to Fuel Growth in the Molded Fiber Market
-- Molded Fiber Tray Holders Gain Acceptance for Shipping & Storage of Wine
Bottles
-- Metal Packaging's Superiority over Other Packaging Materials Ensures
Stable Demand from Food Industry
-- Complete Recyclability Provides the Critical Advantage
-- Innovations, Sustainability and Environmental Impact Add to the
Importance of Metal Cans in Food Packaging
-- Advancements in Food Canning Materials Augurs Well for the Market
-- Metal Cans: Ease of Storage & Transportation Sustains Demand from
Beverage Industry
-- Glass Packaging: Sustainable, Green, and Pure Form of Packaging
-- Glass Remains the Preferred Material for Wine Packaging
-- Lightweight Glass: Popular Choice for Sustainable Wine Packaging
-- Plastic Foodservice Disposables Raise Concerns Over Environmental
Pollution, Drive Focus onto Eco-Friendly Alternatives
-- As Safety Reigns Supreme, Foodservice Industry Compelled to Place
Sustainability on the Backburner
-- Eco-Friendly Foodservice Packaging Crafted to Sustainability Taste
-- Biodegradable Foodservice Packaging Market Benefits from Growing Focus
on Sustainability
-- Compostable Foodservice Packaging Market Poised for Growth
-- Paper Packaging Market Benefits from the Growth of Delivery from QSRs
and Fast Food Establishments
-- Surge in Online Food Delivery Services Spurs Demand for Eco-Friendly
Food Packaging
-- Reusable Food Packaging: Durability & Strength Benefits over Single Use
Plastic Drives Adoption
-- Favorable Demographic & Economic Trends Strengthen Market Prospects
-- Ballooning Global Population
-- Urbanization Trend
-- New Age Consumers Show Preference for Eco-friendly Food Packaging
-- Burgeoning Middle Class Population
-- Challenges Facing the Eco-Friendly Food Packaging Market
-- Lack of Adequate Recycling Infrastructure Facilities: A Key Challenge
-- Toxic Chemicals in Non-Food Grade Food Packaging
FOCUS ON SELECT PLAYERS (Total 131 Featured)
-- BASF SE
-- Amcor PLC
-- Ball Corporation
-- Ardagh Group SA
-- BillerudKorsnas AB
-- Anchor Packaging, Inc.
-- Bericap GmbH Co. & KG
-- Berry Global, Inc.
-- Bauli SpA
-- Aroundrs
-- Bambrew
-- Avant Delivery
-- Bezobalu
-- Alexir Partnership
-- Bibina Pty Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/klxvpr
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