Food packaging serves as a critical tool for containing, preserving, and safeguarding products, reducing food spoilage, preventing adulteration, and presenting food in a hygienic and visually appealing manner.
As reported by the Agriculture and Food Organization, approximately one-third of the world’s food goes to waste, with a significant portion of this wastage attributed to consumers and retailers discarding edible food due to label dates. To combat this issue, a pioneering initiative was launched to develop smart, plant-based food packaging. This innovative approach aims to extend the shelf life of food and includes sensors that inform consumers and retailers about the edibility of the packaged contents.
The global market for smart plant-based food packaging is poised to experience robust growth during the forecast period. This growth is driven by various factors, including the notable benefits of this packaging approach and the burgeoning demand from the food and beverage industry.
Smart plant-based food packaging not only prolongs the lifespan of food items but also addresses environmental concerns by reducing the reliance on plastic materials. The market’s segmentation can be based on product type, material type, and geographic region, highlighting the multifaceted nature of this evolving industry.
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The advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Wafer-Level Packaging
With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Smart Plant Based Food Packaging market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Smart Plant Based Food Packaging Market Takeaways and Projections
- The U.S. is expected to lead the North America Smart Plant Based Food Packaging market, projecting the fastest growth in the region between 2017 and 2027
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2027.
Report Benefits & Key Questions Answered
- Smart Plant Based Food Packaging Historical Market Analysis: The detailed survey by FMI, examines key factors in the Smart Plant Based Food Packaging market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Smart Plant Based Food Packaging market for the forecast period 2017-2027.
- Smart Plant Based Food Packaging Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Smart Plant Based Food Packaging for the assessment period. As per the study, the demand for Smart Plant Based Food Packaging will grow at a robust CAGR between 2017 and 2027.
- Smart Plant Based Food Packaging Market Trend Analysis: The latest study by FMI on the Smart Plant Based Food Packaging market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
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Smart plant-based food packaging is one of the areas where food packaging companies can emphasize on refining their practices. Reutilizing in-house and using eco-friendly and/or recyclable packaging is another step, but making smart plant based food packaging materials means using more biodegradable products. Heinz, Coca-Cola and SINTEF are the major companies participating in the movement towards the use of smart plant based food packaging. Coca-Cola uses Brazilian sugarcane but is also looking into other plant based materials.
Currently all of the company’s bottles are made of fully recyclable plastic using bio-based products whereas SINTEF is now ready to present the first demonstration of packaging made from polyactic acid. The company has partnered with other collaborators like Logoplaste and Greek company Agro to develop smart plant based food packaging. Other food packaging companies need to find if they can alter their packaging necessities and fit smart plant based food packaging material in their budget for which the USDA has proposed a loan guarantee program which will give smart plant based food packaging manufacturers easy access to loan and also cheaper interest rates in order to build a new plant.
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Europe (EU5 Countries, Nordic countries, BENELUX, Poland, Russia, Rest of Europe)
- APAC (China, India, ASEAN, Australia & New Zealand, Japan)
- MEA (GCC Countries, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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