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

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Feb 20, 2024, 12:30 ET

DUBLIN, Feb. 20, 2024 /PRNewswire/ -- The "Eco-Friendly Food Packaging - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

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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