Stronger Sustainability Requirements Are Surfacing As The Trend Continues To Grow |

Stronger Sustainability Requirements Are Surfacing as the Trend Continues to Grow

2022-07-16 01:04:32 By : Ms. Coco Liu

Packaging sustainability is a mega trend impacting the packaging industry, according to the new report “Sustainable Foodservice Packaging Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” by Reportlinker.com.

As a result, new, stronger sustainability requirements regularly surfaced on various fronts. The increase in concern for environmental impacts caused by these plastic containers among the food service industries is leading to multiple companies using recycled materials for food services, helping to drive the market.

In March 2020, according to packaging news, KFC, Pizza Hut, and Taco Bell expanded sustainable packaging commitments, having announced plans to boost sustainable packaging, intensify plastic waste action, and move corporate offices to renewable energy.

The cost of using sustainable packaging is understandably higher than conventional packaging. This is due to the materials involved and their sourcing (both virgin and used materials) – but also due to the less-established supply chains, manufacturing processes, and lower economies of scale.

Some of the main key market trends include:

The sustainable foodservice packaging market is moderately fragmented, as the major share of the market is still dominated by multiple major players. With new innovations in sustainable food service packaging and market demand, the market is attractive for the new players. Some of the key players in the market are Amcor Limited, Sealed Air Corporation, and Mondi Plc., among others.

Amcor was recently one of the organizations involved with the World Wildlife Fund’s ReSource: Plastic program; companies involved with the program cut their use of problematic plastic, including hard-to-recycle and single-use plastics, by 57% between 2018 and 2020, according to a report by the WWF.

Another recent report predicted the global sustainable packaging market will increase at a rate of 5.9% per year through 2027, reaching $351.4 billion, up from $263.8 billion today (per Research and Markets). Factors driving growth of the market include the increasing awareness among consumers toward environmental issues caused by packaging, stringent government regulations, demand from the food and beverage industry, consumer preference, and eco-friendly material initiatives.

The FREE newsletter covering essential news for environment and energy professionals.

BP and #News for C&I #EHS and #Energy Pros

https://t.co/GFVyhtdME7 #EESummit22 #EE100in22 #EEAwardsin22 #EMSummit22