The plant-based food packaging global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Plant-Based Food Packaging Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The plant-based food packaging market size has grown rapidly in recent years. It will grow from $5.64 billion in 2023 to $6.39 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The growth in the historic period can be attributed to increasing awareness of environmental issues, increasing demand for sustainable products, increasing consumer preference for sustainable packaging materials, increasing concerns about plastic waste, increasing demand for flexible packaging.
The plant-based food packaging market size is expected to see rapid growth in the next few years. It will grow to $10.6 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to growing consumer preference for sustainability, growing demand for recyclable and biodegradable products, increase demand for bio-friendly packaging, increasing in concern regarding packaging waste in oceans and landfills, increasing adoption for eco-friendly packaging. Major trends in the forecast period include the growing use of green packaging, high demand for paper and paperboard packaging, adoption of smart packaging with freshness monitoring technology, adoption of sustainable packaging practices, and adoption of biodegradable and compostable packaging.
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Scope Of Plant-Based Food Packaging Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Plant-Based Food Packaging Market Overview
Market Drivers –
The growing adoption of online shopping is expected to propel the growth of the plant-based food packaging market going forward. Online shopping refers to the process of buying goods and services over the Internet. Online shopping allows consumers to purchase goods and services from the comfort of their own homes, eliminating the need to travel to physical stores. It saves time by providing a quick and easy way to browse, compare, and purchase products. Online shoppers increasingly seek eco-friendly options, prompting retailers to adopt plant-based packaging that offers customization and convenience, enabling brand differentiation. For instance, in May 2024, according to the United States Census Bureau, a US-based government agency, the first quarter of 2024 e-commerce estimate increased 8.5% from the first quarter of 2023, while total retail sales increased 2.8% in the same period. Therefore, the growing adoption of online shopping is driving the growth of the plant-based food packaging market.
Market Trends –
Major companies operating in the plant-based food packaging market are advancing solutions with sustainable packaging practices to provide biodegradable alternatives to traditional plastic, thereby reducing waste and environmental impact. Sustainable packaging practices are ways of designing, producing, and disposing of packaging materials that reduce the ecological footprint by including eco-friendly, resource-efficient materials and procedures that encourage a circular economy. For instance, in March 2024, Donovan Bros Ltd., a UK-based provider of sustainable packaging solutions, launched mushroom-based packaging. It is an environmentally friendly and biodegradable food packaging solution that combines agricultural waste with mycelium to generate strong and compostable packaging. It is a flexible, edible, or compostable packaging alternative appropriate for various food goods. This innovative packaging enables a distinct ‘unboxing’ experience.
The plant-based food packaging market covered in this report is segmented –
1) By Packaging Type: Paper Based, Biodegradable And Compostable Packaging, Recyclable Plastic Packaging
2) By Material: Bioplastics, Mycelium, Bagasse, Starch Based, Paper
3) By Packaging Formats: Flexible Packaging, Stand-Up Pouches, Flat Bottom Bags, Flow Wraps, Rigid Packaging, Trays, Containers, Bottles
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Regional Insights –
Europe was the largest region in the plant-based food packaging market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the plant-based food packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the plant-based food packaging market are Amcor plc, WestRock Company, International Paper, Tetra Pak International S.A., DuPont, Stora Enso, Sealed Air, Huhtamaki, Mondi Group, Cascades Inc., Glatfelter Corporation, Genpak, Nordic Paper, Danimer Scientific, Good Natured Products Inc., Vegware, Sulapac Oy, Be Green Packaging, BioPak, TIPA LTD, WorldCentric.com, Sabert Corporation, Ecologic
Table of Contents
1. Executive Summary
2. Plant-Based Food Packaging Market Report Structure
3. Plant-Based Food Packaging Market Trends And Strategies
4. Plant-Based Food Packaging Market – Macro Economic Scenario
5. Plant-Based Food Packaging Market Size And Growth
…..
27. Plant-Based Food Packaging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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