The recent “North America Eco-friendly Food Packaging Market” report by Report Ocean gathers insights and assessments through genuine consultations with key stakeholders, including CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors. This comprehensive study aims to thoroughly examine the global industry, target market, competition, and various influencing factors. Ask for Free Sample Report
The report on the “North America Eco-friendly Food Packaging Market” conducts a data-driven quantitative analysis of the relevant industry. It utilizes research based on public records to identify significant patterns. Additionally, it provides predictions for the market sector’s growth between 2024 and 2032. The research primarily focuses on major global market manufacturers, analyzing sales volume, rates, competitive aspects, market share, and development strategies up to 2032.
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Global North America Eco-friendly Food Packaging Market Analysis and Growth Forecast:
The North American eco-friendly food packaging market held a market value of USD 48,658.4 Million in 2020 and is forecasted to reach USD 67,818.9 Million by the year 2027. The market is expected to register a CAGR of 5.3% during the forecast period.
Eco-friendly food packaging refers to packaging which does not cause any harm to the environment. The market is anticipated to be driven by factors such as the increasing awareness amongst people and consumer preference towards recyclable and eco-friendly packaging materials. Furthermore, the rising demand for packaged food & ready to eat food coupled with advancements in food packaging technology is also expected to boost the market growth.
Despite these driving factors, the high cost of recycling processes and poor infrastructure are estimated to negatively hamper market growth. Furthermore, volatile raw material prices are also expected to hinder the market growth. During the COVID-19 pandemic, the market was severely affected owing to the closing down of hotels & restaurants and other food industries.
Key players operating in the North America Eco-friendly food packaging market include Amcor, Ball Corporation, BASF, Be Green Packaging, Berry Global, Crown Holdings Inc., DS Smith, DuPont, Elopak, Evergreen Packaging, Gwp Group, Huhtamaki Oyj, Mondi, Nampak, Paperfoam, Printpack Inc., Sealed Air Corporation, Smurfit Kappa Group, Sonoco Products Company, Sustainable Packaging Industries, Swedbrand Groups, Tetra Laval, Tetra Pak, Westrock Company, and Winpak Ltd., among others.
The major 13 players in the market are expected to hold around 33% share of the market. These market players are involved in collaborations, mergers & acquisitions, and new product launches to strengthen their market presence. For instance, in August 2021, Amcor partnered with Michigan State University for power innovation and talent in sustainable packaging. The company invested USD 10 million in this partnership.
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Growing awareness among people and consumer preferences towards eco-friendly and recyclable packaging materials
Packaging is one of the most vital components in the food business. It allows minimizing food wastage and product leakage. The packaging industry has witnessed tremendous growth in the past years. However, high use of single-use packaging containers has led to many ill effects on the environment. To curb these ill effects, people are preferring recyclable and eco-friendly packaging. Rising awareness regarding these materials is expected to boost market growth.
Advancements in food packaging technology
Increasing technological advancements in the food packaging industry are anticipated to drive market growth. These advancements include smart packaging, edible packaging, anti-microbial packaging, self-cooling & self-heating packaging, water-soluble packaging, flavor & odor absorber, and micro packaging, among others. The rising adoption of all such food packaging technologies is anticipated to fuel market growth.
The North American eco-friendly food packaging market is segmented into material type, packaging material, product, and applications.
By Material Type
Non- toxic material
The biodegradable segment is expected to hold the largest share of about 19% owing to their high preference due to negligible impact on the environment. The non-toxic material segment is estimated to grow at the fastest rate as they have no ill effects on human health.
By Packaging Material,
Paper & Paperboard
Polylactic Acid (PLA)
Bubble Wrap Packaging
The paper & paperboard segment is expected to hold the largest share and surpass USD 26,700 million by 2027. This is owing to their degradable nature and high preference in the food & beverage industry. The bubble wrap packaging segment is expected to grow at a CAGR of 7.4% during the forecast period.
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Boards & Trays
Milk & Other Beverage Cartons
The boards & trays segment is estimated to hold the largest share of around 32% owing to their high demand, while the jars segment is expected to grow at the fastest rate and cross USD 2,000 million by 2022.
Food & Beverage
Bakery & Confectionery
The food & beverage segment is expected to hold the largest market share as consumers prefer convenient food solutions, due to lack of time. Also, reusable and recyclable packaging materials are commonly used for the packaging of beverages, which also boosts the market growth. The bakery & confectionery segment is expected to grow at the fastest rate during the projected period.
On a regional basis, the North American Eco-friendly food packaging market is segmented into the U.S., Canada, and Mexico.
The U.S. region accounted for the largest market share owing to the presence of major key players in the country. The market in Canada and Mexico is also expected to witness significant growth rates owing to the rising adoption of eco-friendly food packaging materials in the countries.
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The North America Eco-friendly food packaging market report provides insights on the below pointers:
Market Penetration: Provides comprehensive information on the market offered by the prominent players
Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the North America Eco-friendly food packaging market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The North America Eco-friendly food packaging market report answers questions such as:
- What is the market size and forecast of the North America Eco-friendly food packaging Market?
- What are the inhibiting factors and impact of COVID-19 on the North America Eco-friendly food packaging Market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the North America Eco-friendly food packaging Market?
- What is the competitive strategic window for opportunities in the North America Eco-friendly food packaging Market?
- What are the technology trends and regulatory frameworks in the North America Eco-friendly food packaging Market?
- What is the market share of the leading players in the North America Eco-friendly food packaging Market?
- What modes and strategic moves are considered favorable for entering the North America Eco-friendly food packaging Market?
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Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.
Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.
Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.
Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.
The Analysis Objectives of the Report are:
To determine the size of the Market by identifying its sub-segments.
To research the key players and analyze their growth strategies.
To assess the size and value of the Market based on key regions.
To analyze the Market in terms of growth trends, potential, and participation in the overall sector.
To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.
Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.
To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.
What is new in 2024?
– Major developments that can change the business landscape as well as market forecasts.
– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.
– Coverage of new market players and change in the market share of existing players of the market.
– Updated financial information and product portfolios of players operating in the market.
– Updated market developments of the profiled players.
– Any new data points/analysis (frameworks) which was not present in the previous version of the report
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