Eco-Friendly Food Packaging Market Value Projected To Reach USD 334.97 Billion With CAGR Of 8.5% By Forecast 2028

Initiatives taken by the government to promote eco-friendly packaging and rising consumer preferences towards eco-friendly materials are driving market revenue growth

The global eco-friendly food packaging market size is expected to reach USD 334.97 Billion in 2028 and register a revenue CAGR of 8.5% over the forecast period, according to the latest report by Reports and Data. Rapid market revenue growth of eco-friendly food packaging is owing to supportive government regulations and technical breakthroughs in packaging industry for production of packaging using non-petroleum products. Additionally, rising preference for innovative products such as edible packaging, compostable food packaging, water-soluble packaging is driving eco-friendly food packaging industry.

There is a growing preference among consumers towards eco-friendly food packaging products due to rising awareness about reducing impact of non-biodegradable materials on environment. Consumers are also opting for eco-friendly spoons (wooden spoons) and straws (paper straws) which come with food packaging. The airlines industry has started serving passengers with eco-friendly plates (paper plates), spoons (wooden spoons), and glass (paper glass) which will prevent deterioration of ecosystem.

Companies profiled in the global eco-friendly food packaging market include:

Amcor, Mondi Group, Sealed Air Corporation, Ball Corporation, Tetra Pak, Crown Holdings Inc., BASF SE, Huhtamaki OYJ, Westrock Company, Smurfit Kappa Group.

Get Sample Copy Of This Report at https://www.reportsanddata.com/sample-enquiry-form/4921

Some Key Highlights from the Report

By material, paper & paperboard segment is expected to account for largest revenue share in the global eco-friendly food packaging market over forecast period. This is due to wide use of paper & paperboard in foodservice and retail industry, along with transportation of bulk food & beverage products. Because of its degradability and recyclable properties, paper & paperboard are the most preferred packaging material in food and beverage sector. Due to growing environmental concerns, ready-to-eat, on-the-go and frozen & fresh meals are increasingly being provided and delivered in paperboard packaging.

By application, food segment accounted for largest revenue share in the global eco-friendly food packaging market in 2020. Due to fast-paced day-to-day life, consumers are seeking convenient foods solution. Segment revenue growth is driven by growing demand for convenience food and rise in number of working women. Beverages are typically supplied in reusable or recyclable containers; food may also be served in biodegradable packaging, such as paper and paperboards, which supports demand for eco-friendly packaging for food products.

By type, recycled content packaging segment accounted for largest revenue share 2020, and is expected to grow at a faster rate over the forecast period. The recycled content packaging is cost-effective and may be reused several times. It consists of both pre-and post-consumer waste materials. The pre-consumer waste material is made up of trash generated during the production process. This lowers the cost and reduces the strain on natural resources.

To understand how our Eco-Friendly Food Packaging Market can bring difference to your business strategy:-Download Summary 

Eco-friendly food packaging market Asia Pacific is expected to grow at a faster revenue growth rate during the forecast period, due to increasing demand for convenience food such as packed meals or pre-prepared meals (needs less further preparation by the consumer) as a result of consumers’ busy life style. Also, rise in government initiative to promote eco-friendly packaging is driving market growth. The Australian government has set a goal of establishing 100 % pure recyclable packaging by 2025 or sooner, signifying a rapid increase in market value throughout the projection period.

High cost of recycling and the lack of proper infrastructure for recycling operations are projected to hinder the market’s expansion in developing countries.

Ask for Customize Research Report https://www.reportsanddata.com/download-summary-form/4921

Key Benefits of Buying the Global Eco-Friendly Food Packaging Report:

Comprehensive analysis of the changing competitive landscape

Assists in decision making processes for the businesses along with detailed strategic planning methodologies

The report offers an 8-year forecast and assessment of the Global Eco-Friendly Food Packaging Market

Helps in understanding the key product segments and their estimated growth rate

In-depth analysis of market drivers, restraints, trends, and opportunities

Comprehensive regional analysis of the Global Eco-Friendly Food Packaging Market

Extensive profiling of the key stakeholders of the business sphere

Detailed analysis of the factors influencing the growth of the Global Eco-Friendly Food Packaging Market

Browse Full Research Study https://www.reportsanddata.com/report-detail/eco-friendly-food-packaging-market

Browse More Report:

Beverage Packaging Market Companies

Food Packaging Technology and Equipment Market Revenue

Thin Wall Packaging Market Reports

Paper Products Market Overview

Aluminum Foil Packaging Market Segmentations

Metal Packaging Market Application

Soft Magnetic Materials Market Competition landscape

Specialty Paper Market Asia Pacific

Self-Adhesive Labels Market Canada
About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

Contact Us:

John W

Head of Business Development

Direct Line: +1-212-710-1370

E-mail: [email protected]

Reports and Data | Web: www.reportsanddata.com

 

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *