The Expanding Eco-Friendly Packaging Market Opportunities and Future Outlook

Growth of the Eco-Friendly Packaging Market

The global eco-friendly packaging market is projected to experience significant growth, expanding from USD 222.61 billion in 2022 to approximately USD 498.29 billion by 2034. This growth is expected to occur at a compound annual growth rate (CAGR) of 7.6% between 2023 and 2032.

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Impact of the COVID-19 Pandemic on Sustainability in Packaging

Before the COVID-19 pandemic, sustainability was already a key priority in the packaging industry. Consumers were becoming increasingly aware of the environmental impact of packaging, leading to global regulatory efforts. Fast-moving consumer goods (FMCG) and retail companies recognized the importance of sustainability and committed to improving the recyclability of their packaging. This growing consumer demand, combined with regulatory pressure, pushed upstream packaging players to contribute toward these sustainability goals.

However, during the early stages of the pandemic, hygiene and safety concerns took center stage, especially in regions most affected by COVID-19. As a result, the focus shifted away from reducing single-use packaging in favor of ensuring food safety. Surveys during this time reflected increased consumer concerns about hygiene, influencing packaging choices.

Although the pandemic temporarily diverted attention from sustainability, the long-term commitment to eco-friendly packaging remains strong. The industry continues to adapt, exploring innovative solutions that balance hygiene and safety with environmental goals.

Rising Demand for Biodegradable Packaging in the Food and Beverage Industry

The demand for biodegradable packaging is growing rapidly, particularly in the food and beverage sector. Manufacturers in this industry are increasingly adopting sustainable packaging practices, such as using reusable and recyclable materials, to reduce waste and meet stricter government regulations on sustainability. This shift aligns with the industry’s broader push toward more eco-conscious practices.

Recent Developments in Eco-Friendly Packaging

• In October 2024, Scottish start-up HUID announced the launch of innovative eco-friendly packaging materials made from onion skins and peelings, set to debut in 2025.
• In January 2023, Cascades unveiled a new closed basket made from recycled and recyclable corrugated cardboard for the produce sector.
• In May 2023, Holz-Bauer and Mondi introduced PelletBag, a paper alternative to plastic packaging.
• In March 2023, Mondi and ATS-Tanner launched a new paper band for food bundles and multipacks.

Key Players in the Eco-Friendly Packaging Market

• Mondi (U.K.)
• Segezha Group (Russia)
• Klabin SA (Brazil)
• BillerudKorsnäs (Sweden)
• Stora Enso (Finland)
• Daio Paper Construction (Japan)
• Nordic Paper (Sweden)
• Glatfelter (U.S.)
• Gascogne Papier (Austria)
• Tokushu Tokai Paper Co., Ltd. (Japan)
• Goodwin Robbins Packaging Company Inc. (U.S.)
• Oji Holdings Corporation (Japan)
• CTI Paper USA (U.S.)
• Canfor (Canada)
• Genus Paper and Boards Limited (India)
• Georgia-Pacific (U.S.)
• Canadian Paper Packaging Ltd. (Canada)
• Fujian Qingshan Paper Co., Ltd. (China)
• Smurfit Kappa (U.S.)
• WestRock Company (Ireland)
• SCG Packaging (Thailand)
• International Paper (U.S.)

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