The global eco-friendly food packaging market is projected to progress at a CAGR of 7.2% from 2022 to 2032. At present, the market is valued at US$ 190 billion and is predicted to reach a size of US$ 380 billion by the end of 2032.
Demand for recycled content packaging is forecasted to increase rapidly at a CAGR of 7.4% through 2032. Recycled content packaging facilitates safe and secure product movement throughout supply chains.
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Eco-friendly packaging involves providing naturally degradable protection for goods
Eco-friendly items are broken down into raw materials by natural biological processes like fungi and bacteria. They are typically made of organic materials like food waste, textiles, paper, and wood that can decay naturally through a biological process. Eco-friendly packaging involves providing naturally degradable protection for goods that are primarily used for data, recognition, appearance, and convenience from manufacturing to usage.
Food packaging that is good for the environment can be recycled, repurposed, biodegradable, or any combination of the three. Together with these qualities, it is safe, easy to use, non-toxic, durable, flexible, and temperature resistant. It also comes in a range of shapes and sizes to accommodate the needs of the customer.
What Factors Influence the Sales of Products for Eco-Friendly Food Packaging?
Continuous Development of Eco-Friendly Food Packaging through Research and Innovation
Due to changing consumer preferences and a rising global population, market growth is anticipated. Innovative packaging materials like cellulose, bamboo, cornflour, and seaweed have been introduced as a result of research and advancements in the field of eco-friendly food packaging. More study in this area is projected to lead to an increase in demand for biodegradable food packaging on the market.
Demand for biodegradable food packaging is increasing because consumers want more hygienic packaging that they can reuse and recycle.
expanding government initiatives for the production of biodegradable packaging materials and significant financial investments in sustainable packaging.
Continuous Demand for Non-Alcoholic Drinks and Bottled Water
The demand for bottled water is influenced by a number of factors, including the requirement for sanitary drinking water, the fear that consuming tainted tap water might make them ill, and the mobility and convenience that bottled water provides. Nevertheless, bottled water is favoured in many developed and emerging nations, and people are choosing water over soft drinks more frequently due to its health benefits.
Food delivery and takeout have grown in popularity as a result of people’s busy lifestyles, which has increased demand for the biodegradable food packaging industry.
Competitive Landscape
To fulfil the growing demand for low-cost, highly effective biodegradable packaging materials, manufacturers are investing in cutting-edge technology. Innovative advanced technologies are also assisting businesses in providing packaging solutions catered to specific industries. Furthermore, the worldwide campaign against plastic is creating profitable opportunities for manufacturers to enter the market and entice customers with their goods.
For instance,
- In 2021, an eco-friendly chocolate pack was introduced by Amcor. The business created and produced recyclable plastic containers for cocoa powder.
Key Companies Profiled
- Mondi plc
- Pactiv Evergreen Inc.
- PaperFoam bv
- Printpack
- Amcor plc
- Ball Corporation
- BASF SE
- Berry Global, Inc.
- Crown Holdings, Inc.
- Elopak AS
- GWP Packaging
- Huhtamäki Oyj
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