Smart Plant-Based Food Packaging Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2024

Global Smart Plant-based Food Packaging Market: Snapshot

The global smart plant-based food packaging market is expected to gain a lasting impetus with continuous research and development activities for promoting bioplastic innovation. The market could provide food packaging products that are favorable for the health of the planet and also keep ingredients fresh for a longer period of time. Smart plant-based food packaging is projected to revolutionize the way people utilize, store, and purchase groceries without worrying much about waste.

Leading players operating in the global smart plant-based food packaging market are foreseen to come up with new offerings that could not only improve the shelf life of various food products but also protect the ingredients from the damaging effects of their surroundings. Smart plant-based food packaging is predicted to ride on their enhanced and novel preservation properties for increasing its demand in the market. This could be due to the implementation of value-added oxygen barriers in bioplastic. A new type of green plastic is envisaged to take shape in the market with the combination of complex technologies such as nanoparticle components and biopolymers.

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The usage of sensors in smart plant-based food packaging could be a significant addition envisioned to up the demand in the market at a high rate. Such sensors could notify consumers when the food was sourced, its temperature, and also pH levels. Even seafood could be held inside smart plant-based food packaging with the introduction of pot and bottle type products. Furthermore, food manufacturers are forecasted to reduce their carbon footprint with the implementation of smart plant-based food packaging.

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 bioplastic 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.

These smart plant-based food packaging not only extend the life of the food product but also eliminates the need for environment-harming plastic. The smart plant-based food packaging market can be segmented on the basis of product type, material type and as per the region. On the basis of product type, the market is segmented into blow moulded, pot designed and others. On the basis of material type, it is divided into cellulose based film and blow moulded film. On the basis of region, the market is segmented into North America, Europe and the emerging countries of Asia Pacific.

Safety of food products has become a top priority of consumers on a global scale. Increasing awareness among the consumers regarding the environmental concerns and gradual change in buying habits is likely to propel the smart plant based food packaging market. Biodegradable plant based polymers in plant based food packaging is manufactured by cultivating carbohydrates via bacteria, while bio plant based polymers are macromolecules derived from plant residues. This provides the plant based food packaging improved food preservative properties. It is mainly designed to extend shelf life of the food and also to protect the contents from its surroundings. Standard packaging permits the entry of air which places limitations on shelf life of the food.

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There is a lot of opportunity existing in the food packaging market in the developing economies as the food packaging technology is making huge progress in these regions. North America is leading the food packaging market followed by Asia Pacific and Europe. But somehow 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.

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 plant based material and packaging 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 plant based food packaging. Other food packaging companies need to find if they can alter their packaging necessities and fit plant based packaging material in their budget for which the USDA has proposed a loan guarantee program which will give these manufacturers easy access to loan and also cheaper interest rates in order to build a new plant.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

Market segments and sub-segments
Market trends and dynamics
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The regional analysis covers:

North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
Middle East and Africa (GCC, Southern Africa, North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
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