Eco-Friendly Packaging Market: Sustainable Trends and Future Prospects
The Eco-friendly Food Packaging Market focuses on sustainable packaging solutions, reducing environmental impact. With increasing consumer awareness, the demand for eco-friendly options is rising in the packaging industry. These solutions prioritize recyclability, biodegradability, and reduced carbon footprint, aligning with global efforts towards a more sustainable future. The market research report estimates general market conditions, market development prospects, potential restraints, significant industry trends, eco friendly packaging market size, market share, sales volume, and future trends.
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The key players in this market are Sealed Air Corporation (U.S.), Amcor plc (Australia), Berry Global, Inc., (U.S.), DS Smith (UK) and Mondi plc (UK)
Eco Friendly Packaging Market Dynamics
Driver: Government Initiatives towards Sustainable Packaging
Government initiatives promoting sustainable packaging practices propel the eco-friendly packaging market, fostering a shift towards environmentally responsible solutions.
Restraint: Poor Recycling Infrastructure
Despite growing awareness, inadequate recycling infrastructure poses a significant challenge. The lack of efficient facilities hinders the seamless integration of eco-friendly packaging.
Opportunities: Growth in E-commerce
The thriving e-commerce industry presents a substantial opportunity. Increased online shopping demands sustainable packaging solutions, opening avenues for eco-friendly alternatives.
Challenges: Raw Material Price Fluctuations
Fluctuations in raw material prices pose challenges to the eco-friendly packaging market. Stabilizing costs while maintaining sustainable practices requires strategic adaptation and innovation.
By Material, Paper & Paperboard accounted for the largest share in 2022
Top of Form
The demand for paper & paperboard packaging dominated the market in 2022 due to it being highly recyclable and bio-degradable. The global market is primarily driven by increasing environmental issues of landfills and degradation of packaging material. A shift has been seen from plastic to more usage of paper & paperboard in the packaging industry. It has a high demand from the e-commerce industry as majority of the secondary and tertiary packaging use are made of paperboard. The rising demand for sustainable and recycled packaging for food, healthcare, and personal & homecare applications will further drive the paper & paperboard packaging market.
By type, recyclable packaging accounted for the largest share in 2022
Most packaging materials currently in use such as paper, plastic, glass, and metal are recyclable. Hence recycling is a major part of the packaging industry. Recently many companies have been incorporating post-consumer recycled plastic resins in their products to enhance sustainability. According to the New Plastic Economy Global Commitment report 60% of the plastics in use today are recyclable. But the problem in recycling arises in the collection and infrastructure to recycle these products. Packaging companies have been partnering with governments, NGOs and third party businesses to improve the recycling infrastructure and recycling rates. The signatories of the Global Commitment are planning to make a 100% of their packaging products recyclable by 2025.
APAC account for the largest share of the eco friendly packaging market during the forecast period
The Asia Pacific region is projected to lead the eco-friendly packaging market, in terms of both value and volume, from 2022 to 2027. According to the World Bank, in 2021, APAC was the fastest-growing region in terms of both population and economic growth. Countries such as India and China are expected to post high growth in the eco friendly packaging market due to growing developmental activities and rapid economic expansion. The growing population in these countries presents a huge customer base for FMCG products and consumer durables.
The Eco-friendly Food Packaging Market focuses on sustainable packaging solutions, reducing environmental impact. With increasing consumer awareness, the demand for eco-friendly options is rising in the packaging industry. These solutions prioritize recyclability, biodegradability, and reduced carbon footprint, aligning with global efforts towards a more sustainable future. The market research report estimates general market conditions, market development prospects, potential restraints, significant industry trends, eco friendly packaging market size, market share, sales volume, and future trends.
Download PDF Brochure: https://www.marketsandmark...
The key players in this market are Sealed Air Corporation (U.S.), Amcor plc (Australia), Berry Global, Inc., (U.S.), DS Smith (UK) and Mondi plc (UK)
Eco Friendly Packaging Market Dynamics
Driver: Government Initiatives towards Sustainable Packaging
Government initiatives promoting sustainable packaging practices propel the eco-friendly packaging market, fostering a shift towards environmentally responsible solutions.
Restraint: Poor Recycling Infrastructure
Despite growing awareness, inadequate recycling infrastructure poses a significant challenge. The lack of efficient facilities hinders the seamless integration of eco-friendly packaging.
Opportunities: Growth in E-commerce
The thriving e-commerce industry presents a substantial opportunity. Increased online shopping demands sustainable packaging solutions, opening avenues for eco-friendly alternatives.
Challenges: Raw Material Price Fluctuations
Fluctuations in raw material prices pose challenges to the eco-friendly packaging market. Stabilizing costs while maintaining sustainable practices requires strategic adaptation and innovation.
By Material, Paper & Paperboard accounted for the largest share in 2022
Top of Form
The demand for paper & paperboard packaging dominated the market in 2022 due to it being highly recyclable and bio-degradable. The global market is primarily driven by increasing environmental issues of landfills and degradation of packaging material. A shift has been seen from plastic to more usage of paper & paperboard in the packaging industry. It has a high demand from the e-commerce industry as majority of the secondary and tertiary packaging use are made of paperboard. The rising demand for sustainable and recycled packaging for food, healthcare, and personal & homecare applications will further drive the paper & paperboard packaging market.
By type, recyclable packaging accounted for the largest share in 2022
Most packaging materials currently in use such as paper, plastic, glass, and metal are recyclable. Hence recycling is a major part of the packaging industry. Recently many companies have been incorporating post-consumer recycled plastic resins in their products to enhance sustainability. According to the New Plastic Economy Global Commitment report 60% of the plastics in use today are recyclable. But the problem in recycling arises in the collection and infrastructure to recycle these products. Packaging companies have been partnering with governments, NGOs and third party businesses to improve the recycling infrastructure and recycling rates. The signatories of the Global Commitment are planning to make a 100% of their packaging products recyclable by 2025.
APAC account for the largest share of the eco friendly packaging market during the forecast period
The Asia Pacific region is projected to lead the eco-friendly packaging market, in terms of both value and volume, from 2022 to 2027. According to the World Bank, in 2021, APAC was the fastest-growing region in terms of both population and economic growth. Countries such as India and China are expected to post high growth in the eco friendly packaging market due to growing developmental activities and rapid economic expansion. The growing population in these countries presents a huge customer base for FMCG products and consumer durables.
10 months ago
