Focus on Eliminating Excessive Raw Material Wastage Driving Sanitary Food & Beverage Packaging Market Growth: FMI Study
Rising popularity of paperboard packaging material for its high flexibility will amplify the sanitary food & beverage packaging market growth.
Dubai, United Arab Emirates – June 14, 2021 /MarketersMedia/ —
According to Future Market Insights, the sanitary food & beverage packaging market saw soaring growth in 2020 at compound annual growth rate (CAGR) of 5%. As per recently updated FMI analysis, the sanitary food & beverage packaging market likely to register 5.8% CAGR between 2021 and 2031.
Implementation of strict regulatory policies by international food & beverage packaging regulatory bodies to promote sustainable sanitary food & beverage packaging will accelerate the market growth.
Modernization in food packaging industry has also made a significant impact on sanitary food & beverage packaging market growth. Introduction of eco-friendly packaging materials and digitization of supply chain will boost the market growth.
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COVID-19 pandemic led to elevated demand for sanitary food packing. Focus on containing the spread of the virus and the subsequent need to offer sterile packaging will bode well for the market.
As per the United States Environmental Protection Agency (EPA), nearly 82,220 tons of municipal solid waste was generated in 2018. Out of the total amount, nearly 44,000 tons was recycled and more than 30,000 tons was used in landfills.
Food and beverage industry generate around 42,000 tons of paper and paperboard packaging waste every year. This has compelled industries and corporations to focus on minimizing the waste generated by the adoption of sustainable material for packaging. Utilization of eco-friendly materials by leading food and beverage companies will drive the market growth in upcoming years
“Increasing use of naturally derived packaging materials coupled with introduction of smart packaging management solutions at production level will elevate sanitary food & beverage packaging market growth,” remarks the FMI analyst.
Key Takeaways
Rapid population growth, increasing consumer spending on food and beverages, and strict government regulations will provide lucrative market growth opportunities in U.S.
Establishment of legal labeling system coupled with presence of leading market players in the U.K. will drive the sanitary food & beverage packaging market growth in the country.
Growing emphasis on developing sustainable packaging and recycling process and government initiatives towards creating bio-based plastic food packaging will accelerate the market growth in Germany.
Constant efforts from Japanese government towards reducing micro-plastics and restricting the unwanted packaging waste will drive the market growth during the forecast period in Japan.
Thriving food delivery services in China has led to surge in discarded plastic waste. Government and food companies are promoting customers towards recycling of the plastic wastes by offering rewards. Such strategies will fuel the market growth in China.
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Prominent Drivers
Stringent food safety regulations implemented to ensure that quality of product is maintained will accelerate the sanitary food & beverage packaging market growth.
Rising population and elevated consumption of packed foods and beverages will drive the market growth.
Increasing government efforts to make paper and paper product based sanitary food & beverage packaging and increasing environment related awareness will intensify the market growth.
Key Restraints
High capital investment and high supply chain maintenance cost hampers the adoption of advance sanitary food & beverage packaging system among small manufacturers.
Rising cases of counterfeiting and cheap imitation of authentic products restricts the market growth.
Banning of plastic in many countries will negatively influence the sanitary food & beverage packaging market sales.
Competitive Landscape
As per Future Market Insight’s analysis, the main area of focus among all market players is to develop advance packaging tools and incorporating lightweight materials along with flexible and sustainable manufacturing approach to expand their market foothold.
The key market players are employing inorganic strategies like strategic acquisitions, mergers and collaborations to standout in the highly competitive market.
Chuo Kagaku Co. Ltd. is working towards developing manufacturing packaging material from recycled virgin plastic. The food safety and sanitization is ensured by strictly following government laws, voluntary industry standards and their personal quality standards while manufacturing food containers. Some well renounced provisions include Food Sanitation Act Ministerial Notification No. 307 of the Ministry of Health, Labor and Welfare and the Japan Hygienic Olefin and Styrene Plastics Association Voluntary Standard.
Karatzis SA provides a broad range of meat processing and packaging solutions. Its product portfolio includes the A Series, B Series, C Series, Chicken Loops, Micromesh Series, Pesante Series and S & STS Series, Agronets, Crop Bailing Solutions and Raschel Bags among others. Company released a new environment friendly pallet wrapping system which is light weight and act as an excellent substitute to stretch films in 2019.
According to FMI’s report, the following sanitary food & beverage packaging manufacturers currently operate in the global market:
FP Corporation
Chuo Kagaku Co. Ltd.
Karatzis SA
Crown Holdings Inc.
Ball Corporation
Silgan Containers
Kaira Can Company Limited
Canfab Packaging Inc.
Berlin Packaging LLC
More Insights on FMI’s Sanitary Food & Beverage Packaging Market
The latest market study on global sanitary food & beverage packaging market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
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Packaging Type
Paperboard
Rigid Plastic
Glass
Flexible Plastic
Metal
Other Packaging Types
Product Type
Milk & Other Beverage Cartons
Cups & Liquid Tight Containers
Folding Food Containers
Boards & Trays
Other Product Types
Region
North America (US and Canada)
Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
Europe (Germany, UK, France, Italy, Spain, Nordics and Rest of Europe)
Japan
APEJ (China, India, Malaysia, Thailand, Singapore, Australia and Rest of APEJ)
Middle East & Africa (GCC, South Africa, Nigeria, Israel and Rest of MEA)
Contact Info:
Name: Abhishek Budholiya
Email: Send Email
Organization: Future Market Insights
Website: https://www.futuremarketinsights.com/reports/sanitary-food-and-beverage-packaging-market
Source: MarketersMedia
Release ID: 89028071
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