Global Smart Plant-Based Food Packaging Market
Global Smart Plant-Based Food Packaging Market is anticipated to reach US$ XX Bn by 2026 from US$ XX Bn in 2020 at a CAGR of XX% during the forecast period.
Food packaging is essential for containment of products, preservation and protection, to reduce food spoilage, eliminating the risk of adulteration and present food in a hygienic and aesthetically attractive way. According to the Agriculture and Food Organization, one third of the food in the world is wasted and most of this wasted food is generated by retailers and consumers who follow dates on packages and throw away edible food due to a label.
Therefore, a project was initiated in order to develop plant-based bio plastic food packaging which increases the shelf life of food and the researchers also have formulated sensors that notify the consumers and retailers whether the food inside can be consumed or not.
The study includes a detailed market assessment. It does so by in-depth qualitative perspectives, historical evidence, and market size verifiable predictions. Using validated research methodologies and assumptions, the predictions featured in the study have been derived. The research report thus serves as an analysis and information for all aspects of the market, including, regional markets, technologies, by detection and equipment’s and applications.
The global smart plant based food packaging market is driven by various factors which include significant advantages of smart plant based food packaging and demand from food & beverage industry. Smart plant based food packaging extend the life of the food product as well as eliminates the need for environment-harming plastic.
The growth for the market is associated to the increased adoption of smart packaging solutions due to factors such as high consumption of processed foods, rise in hygiene concerns among the population, and need to curtail packaging waste caused by synthetic polymers affecting the environment boosts the growth of the edible packaging market, increased consumer concerns over food safety, demand for shelf-stable and sustainable packaging solutions among food & beverage manufacturers, changes in lifestyle patterns, These factors drive the global smart packaging market.
On the other hand, the high cost of smart packaging is projected to decrease the global smart packaging market growth.
The material based products are anticipated to raise the growth of biodegradable food packaging market over the forecast period. Apart from this, advanced production process and innovation in technology adopted by biodegradable food packaging manufacturers are expected to spur the growth of overall biodegradable food packaging market during the period 2020-2026.The paper and paperboard packaging increased consumer concerns over food safety. The paper and paperboard based biodegradable food packaging is anticipated to hold the share of XX% till 2026.
Global Smart Plant-Based Food Packaging Market
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On the basis of application, dairy & beverages segment marked the highest revenue share in biodegradable food packaging market in 2019. Rising awareness towards sustainable and affordable packaging solutions as well as change in mindset of people i.e. preferences for recycled based products instead of synthetic one is anticipated to expand the growth of fruit & vegetable and dairy related products segment during the forecast period.
Global Smart Plant-Based Food Packaging Market1
Regional Insights –
Global Smart Plant-Based Food Packaging Market2
North America is expected to account for the largest market share with CAGR 7.0% during the forecast period.
The global smart food packaging market is dominated by North America, with a CAGR of 7.0% from 2020-2026, followed by European and Asia Pacific regions. The growth for the market is associated to the increased adoption of smart packaging solutions due to factors such as high consumption of processed foods, rise in hygiene concerns among the population, the growth of the edible packaging market, increased consumer concerns over food safety, demand for shelf-stable and sustainable packaging solutions among food & beverage manufacturers.
But in some way, the growth rate shown in these regions have subsided considerably as the market is close to its peak. This growth is however restored by the high growth rate regions of Asia Pacifica which includes China, India and Latin America.
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Global Smart Plant-Based Food Packaging Market3
- North America
- South America
- ECNOW TECH
- Cascade Marine Foods LLC
- Global Food industries LLC
- Index Food Industries Ltd.
- Food talent solutions
- National Beef Packaging Company
- PPC Flexible Packaging
- Milky Mist Dairy
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