Eco-Friendly Food Packaging Global Market Report 2022
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.
New York, March 15, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Eco-Friendly Food Packaging Global Market Report 2022" - https://www.reportlinker.com/p06244978/?utm_source=GNW
, Printpak, PaperFoam bv, Be Green Packaging, DS Smith plc, DuPont and Crown Holdings Inc.
The global eco-friendly food packaging market 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%. The growth 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%.
The eco-friendly food packaging market consists of sales of eco-friendly food packaging products by entities (organizations, sole traders, and partnerships) that are made out of recycled materials.Eco-friendly packaging is defined as any packaging which is easy to recycle, reuse, compostable, or biodegradable, as well as safe for people and the environment.
It involves the use of materials and production methods that have the least amount of impact on natural resources and energy consumption.
The main types of eco-friendly food packaging are recycled content packaging, reusable packaging, and degradable packaging.The 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 include food and beverages, bakery and confectionery, dairy products, meat products, fruits and vegetables, convenience food, and others.
North America was the largest region in the eco-friendly food packaging market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The 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.Widespread usage of single-use and non-degradable plastic packaging products affects the environment adversely.
Plastic takes hundreds of years to decompose in a landfill and for such a long period the plastic waste will be there in the surroundings and cause several harms to the environment and ultimately harms the life of plants, animals, and human beings.For instance, according to the World Economic Forum report, countries such as Germany and Austria are the leaders in recycling wastes at the rate of 56% and 52% respectively.
In addition, some countries, such as Wales, have set lofty recycling goals for themselves.Wales is aiming for zero waste by 2050, while the EU is considering setting a new 2030 target of at least 65%.
Therefore, increasing awareness among the consumer about the hazards of using plastic products for food packaging is expected to propel the growth of the eco-friendly food packaging market over the coming years.
Technological advancement is a key trend gaining popularity in the eco-friendly food packaging market.Major market players 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.
In July 2021, ProAmpac, a US-based company engaged in offering sustainable and creative packaging products acquired Ultimate Packaging Ltd for an undisclosed amount.With this acquisition, ProAmpac broadens its sustainable product portfolio, improves its position in creative food packaging, and expands its reach across the UK.
Ultimate Packaging is a UK-based company involved in offering creative packaging solutions and state-of-the-art printing techniques. The company gives its support throughout the supply chain with various innovative packaging products that are environmentally friendly.
The countries covered in the Eco-Friendly Food Packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
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