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EXCLUSIVE MARKET REPORT FOR ECO-FRIENDLY FOOD PACKAGING WITH

May 28, 2024May 28, 2024 Vaseline

The market size of eco-friendly food packaging is estimated to reach USD 215.69
billion in 2023 and is expected to reach USD 437.29 billion by 2031, at a CAGR
of 9.40% during the forecast period of 2024-2031.

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Environmentally friendly products are organically broken down into basic
materials by biological organisms such as bacteria and fungi. These are often
natural, environmentally friendly goods that can be broken down through a
biological process, such as goods made from textiles, paper, wood and food
waste. Environmentally friendly packaging provides naturally degradable
protection for products from production to consumption, primarily for
information, identity, presentation and convenience.

The shift in consumer preferences towards recyclable and eco-friendly packaging,
stringent government regulations and downsizing of the packaging industry are
some of the factors driving the growth of this market. Thanks to improved
packaging technology that enables the production of packaging from non-petroleum
products, the market for biodegradable food packaging is growing. Innovative
products such as edible and water-soluble packaging are also driving the
biodegradable food packaging market.

Demand for ready-made meals is expected to increase and customer awareness of
health and wellness will increase over the forecast period. These factors are
expected to drive the eco-friendly food packaging market. However, the food and
drink industry is a major source of waste plastic.

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List of Prominent Players in Eco-Friendly Food Packaging Market:
• AMCOR
• MONDI GROUP
• SEALED AIR CORPORATION
• BALL CORPORATION
• TETRA PAK
• CROWN HOLDINGS INC.
• BASF
• HUHTAMAKI OYJ
• WESTROCK COMPANY
• SMURFIT KAPPA GROUP
• SONOCO PRODUCTS COMPANY
• EVERGREEN PACKAGING
• ELOPAK
• WINPAK LTD.
• BERRY WORLDWIDE
• PRINTPAK INC.
• PAPER FOAM
• SUSTAINABLE PACKAGING INDUSTRIES
• GWP GROUP
• SWEDISH BRAND GROUPS

Market dynamics:
Drivers
Because non-biodegradable materials negatively impact the environment, customers
are becoming increasingly interested in eco-friendly food packaging. As part of
their food packaging purchases, consumers are now choosing eco-friendly straws
and wooden spoons. In the foodservice industry, items made from paper or
biodegradable alternatives are replacing single-use plastic meal containers,
straws, lids, closures and lids. As consumers become increasingly accustomed to
convenience and packaged meals, the market for eco-friendly food packaging will
only continue to grow.

Challenges
Inadequate recycling infrastructure is expected to hinder market growth.
Recycling plastic bottles is much more expensive than making new ones. Recycling
companies would still not be able to compete with newly produced goods even if
local governments gave them monetary incentives in addition to selling recycled
materials. The recycling infrastructure must also be financed by the producer.
Recycling only occurs in sectors where a more expensive part of the production
process makes recycling worthwhile.

Regional trends:
The European eco-friendly food packaging market is expected to register a large
market share in sales and is expected to grow at a high CAGR soon as the
European Union has strict government restrictions against the use of single-use
plastics, which are bad for the The enviEuropean directive defined the circular
economy framework and sustainability standards. European companies have started
implementing the circular economy goal by using recyclable, recycled and
biodegradable products. Furthermore, Asia Pacific holds a substantial share in
the eco-friendly food packaging market due to their busy schedules; consumers
are becoming increasingly interested in ready-to-eat foods such as ready-made or
packaged meals (which require less additional preparation by the consumer). Most
of the world’s manufacturing takes place in China, which is also changing its
packaging practices and materials to be more environmentally friendly.

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Recent developments:
• In February 2020, Mondi joined Carto, a leader in Mexican corrugated
packaging, with creative, eco-friendly designs to penetrate a new market.
• In October 2019, Smurfit partnered with specialty brewer Vanhonsebrouck
(Belgium) to build a good circular supply chain and production line,
significantly adapting the current production process to use recyclable cans
instead of glass to provide an environmentally friendly packaging choice .

Segmentation of the eco-friendly food packaging market
By material-
• Paper and cardboard
• Plastic
• Metal
• Glass
By application-
• Food
• Drinks
By type-
• Recycled content packaging
• Biodegradable packaging
• Reusable packaging
On technical
• Active packaging
• Molded packaging
• Alternative fiber packaging
• Multifunctional packaging
Per region-
North America-
• The United States
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asiatic-Pacific
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East and Africa
• GCC countries
• South Africa
• Rest of the Middle East and Africa

Details insights on this market:
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This release was published on openPR.







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