PUNE, INDIA — The effects of climate change are intensifying, and as consumers look for more sustainable ways to snack, they are starting to drive manufacturers to find new ways to package products. While these alternatives are starting to shift snack food packaging toward more environmentally friendly practices, they are in direct competition with the sector’s superstar: plastic.
The global snack food packaging market is anticipated to register 5.5% CAGR during the forecast period (2019-2025), according to Market Research Future. Based on material, the global snack food packaging market has been segmented into metal, plastic, paper and others. The plastic segment held the largest market share of the global market in 2018 and is poised to witness the highest growth rate during the forecast period.
While transitioning away from plastic may hamper this market growth in the short-term, there is untapped potential in the explosively successful sustainable food packaging industry.
According to a 2019 survey, 64% of consumers in the US and UK stated that recyclable packaging was important to them. Just over half said the same about reusable packaging, and 39% also mentioned biodegradable packages. Top decision-makers are listening.
In 2020, leaders of consumer packaged goods (CPG) companies identified concerns about plastic and packaging waste as the second-most likely issue they believed would affect their businesses.
“Sustainability has become one of the biggest issues in the food industry today — and packaging is a key component of the move toward sustainable business practices.”
The Consumer Brands Association also reports that 25 of the largest CPG companies have committed to increasing recyclable content, reducing packaging or reusing material. Eighty percent of those companies are working toward fully recyclable packaging for all products within the next 10 years.
According to the 2020 Sustainable Packaging Report from Winsight Grocery, “Sustainability has become one of the biggest issues in the food industry today — and packaging is a key component of the move toward sustainable business practices.”
From biodegradable bread bags to non-plastic pretzel pouches, the snack food packaging market has plenty of room to pivot toward the sustainable options consumers want while supporting society’s collective future needs.