The global sales of plant-based packaging is expected to rise through 2031, according to Future Market Insights (FMI) and its “Plant Based Packaging Market” report.
The research firm said the growth of plant-based packaging is due to an increased focus on the environment and sustainability, government emphasis on efficient package management, rising consumer awareness, and a slow-building ban on plastic.
Plant-based packaging options (such as mushroom-, seaweed- and coconut husk-based options), in addition to environmentally friendly packaging solutions (like packaging made from shrimp shells) are finding their way into various applications in food and beverage products.
In terms of sales, FMI said the North American market is anticipated to take the lead in the global plant-based, environmentally-friendly packaging market. And the new solutions that are emerging are also providing an extended shelf life of goods while protecting the components from the harmful impacts of their surroundings.
The European plant-based packaging market is estimated to grow at a moderate pace and then develop rapidly in the coming years.
Tea Packaging Is Having a ‘Renaissance’
Another report from Future Market Insights, on the “Tea Packaging Market,” pointed out that tea packaging is having a “renaissance,” where tradition is meeting innovation. And while eco-friendly or sustainable packaging options are on the rise, customers are still seeking convenient options, especially in the tea industry.
What’s driving the tea packaging market? According to FMI:
- Sustainable packaging materials are being sought to reduce recycling and logistics costs.
- Tea manufacturers are prioritizing product packaging to enhance customer appeal.
- The demand for tea packaging that preserves freshness and aroma has risen.
- Growing awareness of tea’s antioxidant properties is driving increased tea consumption, and this increased demand for tea is expected to boost the need for innovative tea packaging through 2031.
While eco-friendly and sustainable packaging in the tea industry is on the rise, there are a couple of key things that may possibly hinder the market, per Future Market Insights. FMI pointed out that the fluctuating and high cost of raw materials used in this type tea packaging is a barrier to growth, and the more innovative the packaging becomes, the higher the price of the product becomes. However, the rise in disposable income among middle-class individuals will help drive the market and propel trends and opportunities in tea packaging.
FMI noted: “The tea packaging industry is one of the most competitive and arduous markets in terms of both product and packaging.”
Insights on the Global Beverage Packaging Market
Future Market Insight’s “Beverage Packaging Market” also notes that in the overall beverage industry there’s a major problem with packaging (such as ready-to-drink tea bottles) and its inability to decompose in a timely manner. The report said this is leading some governments around the world to take action and impose strict laws on packaging. Several countries have introduced heavier regulations on plastics, forcing brands to shift away from plastics, especially those that are single-use – leading to an increase in prices for consumers and their products.
The report also explains that research is underway to determine if recycled plastics may replace virgin plastics in ready-to-drink beverage containers. In turn, this will encourage beverage packaging companies to reduce polymer procurement costs while seeking environmental stability.
Overall, the beverage packaging industry – and the tea packaging industry – continues to undergo rapid changes due to consumer demand for convenient and sustainable packaging solutions in the market. And innovations in technology, as well as the emergence of new packaging materials, will drive the beverage packaging market to grow.
To learn more about Future Market Insights and its reports, visit FutureMarketInsights.com.
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