Eco-Friendly Food Packaging Market worth USD 360.28 million by 2033

The Market Statsville Group (MSG) publishes the new report on the "Eco-Friendly Food Packaging Market By Equipment (Therapeutic, Diagnostic, and Mobility Assist Equipment), By Service, By Indication, By Region – Global Share and Forecast to 2033

According to the Market Statsville Group (MSG), the global eco-friendly food packaging market size is expected to grow from USD 169.42 million in 2022 to USD 360.28 million by 2033, at a CAGR of 7.10% from 2023 to 2033.

The eco-friendly food packaging market consists of sales of eco-friendly food packaging services by entities (organizations, sole traders, and partnerships). Eco-friendly food packaging produced using various techniques such as active packaging, molded packaging, and multipurpose packaging are trending globally. With the increasing incidences of food-borne illness, food manufacturers are moving toward active antimicrobial packaging to avoid the food from contamination. Increased demand for on-the-go products due to the hectic lifestyle of consumers is expected to drive the growth of the packaging industry. On the other hand, 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 the ocean.

Global Eco-Friendly Food Packaging Market Segmentation

The overall eco-friendly food packaging market has been segmented into material type, product, packaging, application, and region.

• By Material Type (Biodegradable , Recyclable, Compostable, Reusable , Natural fiber, Plant based, Non- toxic material)
• By Packaging (Paper & Paperboard, Plastic, {Starch-Based, Cellulose-Based , Polylactic Acid (PLA), Other}, Glass, Corn-starch, Bubble Wrap Packaging, Metal, Rice Husk, Gelatine Films, Others)
• By Product (Boards & Trays, Bottles, Containers, Jars, Box, Milk & Other Beverage Cartons, Tub, Tableware, Others)
• By Application (Food and Beverage, Bakery and Confectionery, Others)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Plastic segment is at the highest CAGR during the forecast period

Plastic  segment is expected to grow at the highest CAGR during the forthcoming period. The reusable, recyclable, or degradable plastic bottles and cans, bags, and pouches, carrying bags, films, containers, and wraps. Plastic items, including single-use plastic products, are increasingly utilized for food packaging in the Asia Pacific area. However, due to tight government regulations and an extended prohibition on single-use plastic materials, the European area dominates the market for eco-friendly plastics. Furthermore, consumers in this area are more conscious of the environmental risks of plastic, which boosts the demand for eco-friendly food packaging in Europe. As nations like as China, Japan, India, South Korea, and other growing countries provide chances to global and local manufacturers for making eco-friendly packaging goods for the food and beverage sector, Asia Pacific is expected to expand at the fastest rate.

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The Asia Pacific to account for the highest CAGR during the forecast period

Over the forecast period, the Asia Pacific market is expected to grow rapidly. The growing consumer awareness in this region 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.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the eco-friendly food packaging market. It also consists of the profiles of leading companies such as Ball Corporation, BASF, Be Green Packaging, Berry Global, Crown Holdings Inc., DS Smith, DuPont, Elopak, Evergreen Packaging, Gwp Group, Huhtamaki Oyj, Mondi, Nampak, ondi Group, Paperfoam, Printpak Inc., Sealed Air, Sealed Air Corporation, Smurfit Kappa Group, Sonoco Products Company, Sustainable Packaging Industries, Swedbrand Groups, Tetra Laval, Tetra Pak, Westrock Company and Winpak Ltd. The key players' growing research and development activities for launching innovative healthcare devices with advanced features and strategic unions are expected to drive market growth.

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Market Statsville Group (MSG) is a business research and consulting platform of Statsville Consulting Private Limited, based in Oklahoma, USA. MSG is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and intelligent business insights. MSG has experienced research analysts who are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact. Furthermore, Market Statsville Group already benefited more than 1,000 companies each year for their revenue planning. It helped them take their disruptions/innovations early to the market by providing them research ahead of the curve.

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