Using our Stories feature, we look at 4 rising trends in sustainable food and beverage packaging to identify rising solutions, customer appeals, and digitally-enabled business models addressing this space.
Stories is CB Insights’ interactive presentation builder, which helps you create stunning market landscapes and always fresh data visualizations — so you can tell beautiful, data-driven stories.
The sustainable packaging industry is huge, ringing in at $366.9B, according to CB Insights’ Industry Analyst Consensus. And it’s set to grow, as it receives tailwinds from rising regulatory pressures. Notably, Canada and countries in the EU countries voted to ban single-use plastic products commonly used in food service by 2021. Meanwhile, states in the US, including California and New York, have legislated bans on certain single-use plastic bags.
Consumer attention to sustainable packaging is also strong. Nearly half (47%) of CPG consumers said recycled packaging is an important attribute to them while shopping, and, more broadly, 73% are open to paying more for products with eco-friendly and sustainable materials, according to a 2019 Nielsen survey in the US.