Eco-friendly Food Packaging Market Growth Opportunities by 2025

According to MarketsandMarkets, the global eco-friendly food packaging market is estimated to be valued at USD 174.7 billion in 2020 and is projected to reach USD 249.5 billion by 2025, recording a CAGR of 7.4%, in terms of value. Stringent government regulations, downsizing in the packaging industry, and technological advancements in the packaging industry for the manufacturing of packaging using non-petroleum products are driving the market for eco-friendly food packaging. Furthermore, innovative products such as edible packaging and water-soluble packaging are also fueling the market for the eco-friendly food packaging market.

Report Objectives:

  • To describe and forecast the eco-friendly food packaging market, in terms of material, application, type, technique, and region

  • To describe and forecast the market, in terms of value, by region–North America, Europe, Asia Pacific, South America and the Rest of the World—along with their respective countries

  • To provide detailed information regarding the major factors influencing market growth (drivers, restraints, opportunities, and challenges)

  • To strategically analyze micro-markets with respect to individual growth trends, prospects, and contributions to the overall market

  • To study the complete value chain of the market

  • To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the eco-friendly food packaging market

  • To strategically profile the key players and comprehensively analyze their market positions, in terms of ranking and core competencies, along with details on the competitive landscape of market leaders

  • To analyze strategic approaches, such as acquisitions & divestments, expansions, product launches & approvals, and agreements, in the eco-friendly food packaging market

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The paper & paperboard segment, by material, is projected to witness significant growth during the forecast period

By material, the paper & paperboard market is segmented into corrugated box, boxboard, rigid box, folded boxes, trays, flexible packaging, paper bags, shipping bags, and sachet/pouches. The packaging of products differs for the type of foods and beverages served. Paper & paperboards are the most preferred packaging in the food & beverage industry due to its degradable nature and recyclable property. Ready-to-eat, on-the-go, and frozen & fresh foods are nowadays served and transported in the paperboard packaging, which is due to the rise in environmental hazards. Rigid boxes are preferred for transportation. However, fresh products are served inflexible and molded paper & paperboards.

The eco-friendly food packaging, by application, is projected to account for a significant share in the market during the forecast period

By application, the eco-friendly food packaging market is segmented into food and beverages as applications. The food segment accounted for the largest share in 2019, acquiring approximately 70% of the overall market. Consumers seek convenience food solutions due to lack of time. The expectations of food quality, hygiene, and growing health awareness are driving the eco-friendly packaging market in the food sector. Beverages are usually served in reusable or recyclable products. Also, food products can be served in biodegradable packaging, which includes paper & paperboards; this is fueling the growth of the segment.

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The Asia Pacific region is projected to witness the fastest growth during the forecast period

The eco-friendly food packaging market in Asia Pacific is projected to witness the highest growth due to the increasing demand for convenience foods due to the busy lifestyles of consumers. There is increasing consumption of on-the-go and ready-to-eat breakfast meals, as a result of urbanization, hectic lifestyles, and high disposable income. The eco-friendly food packaging industry has been growing as a result of the stringent laws and regulations levied by governments and governing bodies, as well as a shift in consumer preferences toward recyclable and eco-friendly packaging materials. Apart from these factors, the downsizing of packaging and breakthrough in new technologies are also driving the eco-friendly food packaging market globally. However, the high cost of recycling and poor infrastructure available for recycling processes are likely to hamper the growth of this market in underdeveloped regions.

This report includes a study on the marketing and development strategies, along with the product portfolios of the leading companies. The global eco-friendly food packaging market includes key players such as Amcor (Australia), Mondi Group (Austria), Sealed Air Corporation (US), Ball Corporation (US), Tetra Pak (Sweden), Crown Holding Inc. (US), BASF (Germany), Huhtamaki Oyj (Finland), Westrock (US), Smurfit Kappa (Ireland), Sonoco Company (US), Evergreen (US), Elopak (Norway), Winppak (Canada), Berry Global, (US), Printpack (US), Paperfoam (The Netherlands), and GWP Group (England). These companies are focusing on new product launches and expansions & investments to expand themselves geographically. They have adopted these strategies to utilize their expertise efficiently, enhance their productivity, and introduce their products to newer markets