Eco-Friendly Food Packaging Industry Overview By The Business Research Company
- The eco-friendly food packaging market grows with increasing consumer awareness about the hazards of plastics, and their incentive to help the environment.
LONDON, Feb. 23, 2022 /PRNewswire/ -- Widespread usage of most plastic packaging products affects the environment adversely. Growing consumer awareness about the drawbacks of using single-use and non-degradable plastic products for food packaging is driving the growth of the eco-friendly food packaging market.
The global eco-friendly food packaging market size is expected to grow from $196.26 billion in 2021 to $211.56 billion in 2022 at a compound annual growth rate (CAGR) of 7.8%. TBRC's eco-friendly food packaging market growth analysis shows that this is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $280.10 billion in 2026 at a CAGR of 7.3%.
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Eco-Friendly Food Packaging Market Trends
Technological advancement is a key trend gaining popularity in the eco-friendly packaging market. Major market players of the eco-friendly food packaging market are concentrating their efforts on creating innovative technologies for migrating to environmentally friendly food packaging solutions to reduce environmental impact and keep plastic out of landfills and seas. For example, in July 2019, Nestle, a Switzerland-based food company introduced a new recyclable paper wrapper for its YES! snack bars by using high-speed flow wrap technology. The possibility for recyclable paper packaging to be widely employed in the confectionery sector has been unlocked as a result of this launch. Till now, the only way to produce shelf-stable snacks at fast speeds was to use plastic films and laminates. Paper can now be utilized in huge quantities while maintaining product quality and freshness throughout the shelf life.
Key Players In The Eco-Friendly Food Packaging Industry
Major players in the eco-friendly food packaging market are Amcor, Mondi plc, Sealed Air Corporation, Ball Corporation, Tetra Pak, BASF, Huhtamaki Oyj, Westrock, Smurfit Kappa Group, Sonoco, Evergreen Packaging, Elopak, Winpak Ltd., Printpak, PaperFoam bv, Be Green Packaging, DS Smith plc, DuPont and Crown Holdings Inc.
Eco-Friendly Food Packaging Market Segmentation
The main types of eco-friendly food packaging are recycled content packaging, reusable packaging, and degradable packaging. Degradable eco-friendly food packaging is a substitute for petrochemical-based polymers. The common biodegradable materials used in food packaging are chitosan, starch, gelatin cellulose, and polylactic acid. The different materials include paper and paperboard, metal, glass, plastic, others and use various techniques such as active packaging, molded packaging, multipurpose packaging, alternate fiber packaging. The various applications of such packaging include food and beverages, bakery and confectionery, dairy products, meat products, fruits and vegetables, convenience food, and others.
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