Global Eco-Friendly Packaging Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Eco-Friendly Packaging Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Eco-Friendly Packaging market finds that the global Eco-Friendly Packaging market reached a value of USD 196566.93 million in 2022. It’s expected that the market will achieve USD 297817.25 million by 2028, exhibiting a CAGR of 7.17% during the forecast period.

Market Drivers
and Impact
Due to consumers’ busy lifestyles’ increasing demand for convenience foods, people’s growing health and environmental awareness, and clear and specific product ingredient lists are becoming more and more popular in packaged foods, the Asia-Pacific market is expected to achieve the highest growth . Due to urbanization, busy lifestyles and high disposable income, consumption of mobile and ready-to-eat breakfasts is increasing. Due to the implementation of strict laws and regulations by the government and governing bodies, and consumers' preference for recyclable and eco-friendly packaging materials, the environmentally friendly food packaging industry has developed.

In the Asia-Pacific region, countries such as China and Japan have sound waste management and recycling practices. However, China has the world's largest waste of non-recyclable plastic. But China's measures, such as the ban on the import of 24 solid materials (including low-grade polyethylene terephthalate used in plastic bottles) in 2018, require the use of green and sustainable packaging. In addition, in India, although the country has a sound recycling environment, the penetration rate of the eco-friendly packaging concept is low. Nevertheless, with a large number of companies adopting eco-friendly packaging solutions, eco-friendly packaging has gained widespread attention in the country.

In July 2019, China launched a new garbage sorting plan for garbage, and the country’s postal authorities have set their sights on important garbage producers in the express delivery industry. In order to reduce the pressure on the environment, express companies are using recycled old boxes, reducing unnecessary packaging and using biodegradable packaging materials. By the end of 2019, it is estimated that 95% of delivered packages will use electronic waybills to minimize the use of paper. According to the State Post Bureau (SPB), this eco-friendly packaging program will save the country 207 million disposable plastic bags each year. Under the leadership of China, the Asia-Pacific region is expected to grow at an alarming rate within the expected time.

Region Overview:

Europe had the highest growth rate of all regions.

Company Overview:

WestRock is one of the major players operating in the Eco-Friendly Packaging market, holding a share of 5.91% in 2020.

WestRock Company provides corrugated packaging solutions. The Company offers merchandising displays, paperboard, folding cartons, kraft papers, protective packaging, and pulp.

Amcor Proprietary Limited operates as a packaging company. The Company offers wide range of flexible and rigid packaging, specialty cartons, closures, and services for food, beverage, pharmaceutical, and medical sectors.

Segmentation Overview:

Among different product types, Paper & Paperboard segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Food & Beverage segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Eco-Friendly Packaging market covered in Chapter 3:

Mondi
Tetra Laval
Smurfit Kappa Group
Sealed Air
BASF
WestRock
Sonoco
Amcor Limited

In Chapter 4 and Chapter 14.2, on the basis of types, the Eco-Friendly Packaging market from 2018 to 2029 is primarily split into:

Paper & Paperboard
Plastic
Metal
Glass

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Eco-Friendly Packaging market from 2018 to 2029 covers:

Food & Beverage
Healthcare
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)