The Plant-Based Food Packaging Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Plant-Based Food Packaging Global Market Report 2024, 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.
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.
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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
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 report table of contents includes:
1. Executive Summary
2. Plant-Based Food Packaging Market Characteristics
3. Plant-Based Food Packaging Market Trends And Strategies
4. Plant-Based Food Packaging Market – Macro Economic Scenario
5. Global Plant-Based Food Packaging Market Size and Growth
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32. Global Plant-Based Food Packaging Market Competitive Benchmarking
33. Global Plant-Based Food Packaging Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Plant-Based Food Packaging Market
35. Plant-Based Food Packaging Market Future Outlook and Potential Analysis
36. Appendix
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