Plastic Free Smart Food Packaging Market to Hit $13.59 Billion by 2030: Cognitive Market Research

CHICAGO , March 30, 2023 /PRNewswire/ -- The Global Plastic Free Smart Food Packaging Market size is valued at USD 7.28 Billion in 2022 and is projected to be USD 13.59 Billion by 2030, growing at a CAGR of 8.6% from 2023 to 2030, as per a recent report published by Cognitive Market Research. As per Cognitive Market Research analysis, the food industry is bringing technology in packaging, which is driving the further growth of plastic free smart food packaging market. For instance, BASF and StePac have created a contact-sensitive packaging solution to preserve fresh produce. These companies have used the ChemCycling technology to facilitate the production of Ultramid Ccyled polyamide 6 for StePac's Xgo Circular series.

Major findings during the study of the Plastic Free Smart Food Packaging Market:

• Packaging of food and beverage products is the most integral part of the industry. To meet the growing requirement of the food industry, the adoption of smart packaging can enhance the safety of food in a sustainable way.
• Technological advancements are driving the smart food packaging market. Some of the modern technologies, such as anti-microbial packaging, nanotechnology, smart packaging, packaging with edible film and coatings, water-soluble packaging, self-heating and self-cooling packaging, and chitosan-based films, among others, are recently used to enhance the safety of packaged food along with reducing its impact on the environment.
• Paper and paperboard are commonly used for food and beverage packaging as paperboard comes in several grades, suitable for a wide array of food products. It is widely used for packaging microwave popcorn bags, ice cream, milk cartons, and fast-food containers such as pizza, beverage cups, etc.
• Use of bioplastic materials for food and beverage packaging has been rising recently, and it will grow at the highest CAGR in the near future. This can be attributed to the rising investment in bio-based capacities.
• Based on type, the recyclable segment held a maximum share of 34.89% of the total market. Demand for recycling packaging materials is rising across the globe. This can be accredited by the fact that various manufacturers are aggressively taking initiatives in promoting sustainable ways of packaging.
• In terms of application, the beverage segment is projected to grow at the highest CAGR owing to the increasing demand for ready-to-drink (RTD) packaged beverages. The expansion can also be due to the rising consumption of both alcoholic and non-alcoholic beverages, as well as shifting customer tastes for healthier choices.
• European countries are aggressively working towards solutions to fight climate change and reduce plastic waste. Thus, Europe dominates the overall market of plastic-free smart food packaging. Under Europe's plastics strategy and the SUP directive, it has been projected that by 2030, single-use plastic will be phased out, and it will be compulsory to use recyclable, reusable, or compostable plastic packaging materials.
• North America is projected to grow at a high CAGR during the forecast period. Regulatory bodies of the region, including the FDA and USDA, are actively promoting the use of eco-friendly packaging.

Read Full Market Analysis Plastic Free Smart Food Packaging: by Material (Paper and Paperboard, Metal, Glass, and Bioplastics); by Type (Biodegradable, Reusable, Recyclable, and Others); by Concept (Active Packaging, Intelligent Packaging, and Modified Atmosphere Packaging); by Application (Food, and Beverage); by Region (North America, Europe, Asia Pacific, Latin America and Middle East, and Africa) Global Industry Analysis, COVID-19 Impact, and Industry Forecast, 2018-2030

Plastic-Free Smart Food Packaging Industry Statistics 2022:

What are the Growth, Drivers, and Restraints for the Plastic Free Smart Food Packaging Market?

Driver:

• Intensifying concern associated with plastic waste generation

Plastic manufacturing has risen, and so has its impact on the environment, particularly on the seas worldwide. Plastic pollution is running rampant. According to a survey by OECD, the world is generating twice as much plastic waste in comparison to 20 years back. For instance, in 2019, about 139 megatons (Mt) of plastic waste was found in oceans and rivers. Out of the total generated plastic waste, only 9% is recycled. Almost 50% of this waste ends up in landfills.

Plastic has a negative impact on the world's wildlife, especially animals that live in water bodies. Turtles and seagulls have been discovered with plastic in their guts, according to StrawlessOcean.org. Meanwhile, according to PNAS research, by 2050, 99 percent of seabirds will have consumed plastic. Every year, 100,000 marine creatures die as a result of plastic waste.

Similarly, it has been observed that a significant amount of food produced is wasted around the globe. Thus, a sustainable way of packaging can help in reducing the wastage of food, along with low carbon emissions and a decrease in plastic pollution. Hence, intensifying concern associated with plastic waste generation is driving the growth of plastic free smart food packaging market.

Restraint:

• Proper management is required for the decomposition of compostable and biodegradable packaging materials

Check the Full Report, including Global, Regional, and Country Level Analysis: 

https://www.cognitivemarketresearch.com/plastic-free-smart-food-packaging-market-report

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How has COVID-19 Impacted the Plastic Free Smart Food Packaging Market?

The advent of the pandemic led to implementing lockdowns across several countries. Restrictions imposed during the pandemic led to the closure of several non-essential services and manufacturing industries. Cafés, restaurants, and several other end-user industries decreased the demand for packaging materials. Moreover, the disruption in the supply chains is also among the factors leading to the delay in the availability of the raw materials used in the processing and manufacturing of food packaging.

However, with the gradual opening of the economies and reduced restrictions, several cafes and restaurants increased their delivery services, thereby leading to the gradual rise in the demand for smart food packaging. Moreover, the government was also providing subsidies for raw materials to support SMEs as well as local vendors to enhance the production of smart and active packaging boxes and cartons.

Plastic Free Smart Food Packaging Market Report Scope

Plastic Free Smart Food Packaging Market – Material Outlook (Revenue, USD Billion, 2018 – 2030)

• Paper and Paperboard
• Metal
• Glass
• Bioplastics

Plastic Free Smart Food Packaging Market – Type Outlook (Revenue, USD Billion, 2018 – 2030)

• Biodegradable
• Reusable
• Recyclable
• Others

Plastic Free Smart Food Packaging Market – Concept Outlook (Revenue, USD Billion, 2018 – 2030)

• Active Packaging
• Intelligent Packaging
• Modified Atmosphere Packaging

Plastic Free Smart Food Packaging Market- Application Outlook (Revenue, USD Billion, 2018 – 2030)

• Food
• Beverage

Plastic Free Smart Food Packaging Market – Regional Outlook (Revenue, USD Billion, 2018 – 2030)

• North America (U.S., Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Luxembourg, Netherlands, Switzerland, Belgium, and the Rest of Europe)
• Asia Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, and Rest of MEA)

List of Key Players in the Plastic Free Smart Food Packaging Market

• BASF
• Amcor
• Smurfi Kappa
• Mondi Group
• Elopak
• Paperfoam
• Prinkpak
• Tetra Pak
• Sealed Air Corporation
• Avery Dennison Corporation
• Algramo
• Nanolike
• Others

Recent Developments:

Related Reports on Plastic Free Smart Food Packaging Market:

• Global Eco-friendly Packaging Market is projected to hit USD 289.14 Billion by 2030

The eco-friendly packaging market is expected to reach USD 289.14 Billion by 2030 growing at a CAGR of 7.3%. Adoption of technological advancements, such as smart packaging or intelligent packaging in the packaging industry has enhanced the growth of the eco-friendly packaging market. Stringent government initiatives towards reducing carbon emission and plastic wastes drives the growth of the global market.

• Global Green Packaging Market is expected to reach USD 332.64 Billion by 2030

The global green packaging market is expected to reach USD 332.64 Billion by 2030, growing at a CAGR of 6.5%. Increasing use of green packaging will reduce the gas emissions as the process involves relatively fewer fossil fuels. Further, these products are biodegradable in nature which will help in reducing the impact of plastic waste on the environment. Food & beverage industry is surging the use of green packaging owing to the high awareness of plastic pollution.

Other Related Reports:

• Global Compostable Straws Market to reach $401.3 Million by 2030, growing at an impressive CAGR of 11.0%
• Global Oxygen Indicator Labels Market to hit $903.4 Million by 2030, growing at an impressive CAGR of 5.6%
• Global Pharmaceutical Packaging Market to hit USD 301.51 Billion by 2030 growing at a CAGR of 15.3%
• Global Semiconductor Equipment Packaging Market to hit $61.08 Billion by 2030, growing at an impressive CAGR of 6.6%
• Global Plastic Packaging Market to reach $424.5 Billion by 2030, growing at an impressive CAGR of 2.1%

Explore Other Cognitive Market Research's Food & Beverage Industry Report

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