Global Eco-Friendly Food Packaging market data 2024, Forecast To 2033

The eco-friendly food packaging market has demonstrated robust growth, rising from $233.39 billion in 2023 to $253.77 billion in 2024, marked by a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period is linked to heightened environmental awareness and sustainability goals, government regulations and bans on single-use plastics, an increased consumer preference for eco-friendly products, corporate sustainability initiatives, and a reduced carbon footprint. Anticipating sustained strong growth in the next few years, the market size is expected to reach $364.28 billion in 2028, supported by a consistent CAGR of 9.5%. Growth in the forecast period is attributed to efforts in recycling and the circular economy, initiatives for supply chain sustainability, cost savings and efficiency, marketing and brand image enhancement, and e-commerce and home delivery packaging solutions. Major trends in the forecast period include innovations in biodegradable and compostable packaging, smart and active packaging for food safety, collaboration across the food industry value chain, and the use of recycled and repurposed materials.