On April 13, 2020, market research firm Markets and Markets announced the publication of a report focusing on the development of the “eco-friendly food packaging market.” The report presents market data by packaging material, type, technique, and region with global forecasts into the year 2025. It estimates the eco-friendly food packaging market to currently be valued at $174.7 billion and expects it to reach $249.5 billion by 2025, with a shift in consumer preference to materials that are recyclable and “eco-friendly” driving the growth.
The study finds that paper and paperboard packaging are expected to post significant growth during this period, with the material type being the most preferred within the food and beverage industry due to their degradable and recyclable nature. Paperboard packaging is being used more and more for ready-to-eat, on-the-go, and frozen and fresh foods, with rigid paper boxes preferred for transportation and molded paperboards for fresh products.
“The expectations of food quality, hygiene, and growing health awareness are driving the eco-friendly packaging market in the food sector,” the analysis finds, with the fastest growth predicted to take place in the Asia-Pacific region. “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.” The report also notes the downsizing of food packaging as playing a role. Some regions, however, are marked as having a high cost of recycling and poor recycling infrastructure that will limit growth.
Markets and Markets (April 2020). “Eco-friendly Food Packaging Market by Material (Paper & Paperboard, Plastic, Metal, Glass), Application (Food, Beverages), Type (Recycled Content Packaging, Degradable Packaging, Reusable Packaging), Technique, and Region – Global Forecast to 2025.”
PR Newswire (April 7, 2020). “Early Impacts of COVID-19 on Eco-friendly Food Packaging Market – Exclusive Report by Markets and Markets.”