The global sustainable packaging market is expected to be worth $252.4 billion in 2022. It is expected that the economy will grow by 5.8% between 2023 and 2030. The demand for eco-friendly packaging is driving the growth of the sustainable packaging market. Packaging that is both environmentally friendly and long-lasting.
The sustainable packaging market in North America (the United States and Canada) is expected to be worth $100 billion by 2030. because of consumer awareness Environmental issues are becoming more prevalent, and government regulations should help to increase interest. The demand for environmentally friendly packaging has skyrocketed.
According to the Environmental Protection Agency (EPA), the United States generates 80 million metric tons of packaging waste annually, with food and beverages accounting for about half of all U.S. packaging waste.
Many American corporations have promised to take action to eliminate the use of packaging that has an adverse environmental impact in response to public awareness efforts. Small businesses in the food and beverage sector have also started to implement these procedures. Many food producers decide to seize the chance to create innovative, more Many food producers decide to seize the chance to create innovative, more environmentally friendly packaging.
Transparency Market Research Inc. discovered that paper and paperboard are the most used materials in the market due to the increasing expansion of the industrial, logistics, and import/export sectors. Because it is inexpensive, paper and cardboard packaging is very popular in the food and beverage industry. It is recyclable and biodegradable, as well as affordable, lightweight, and capable of supporting high-quality printing. Additionally, the material does not react with food, allowing it to retain freshness and flavor.
However, it is expected that if the quality of paper and cardboard materials will be developed to be more durable in the future. It should be able to support the growing demand of other business groups, such as the business group of automotive, E-Commerce, pharmaceutical, chemical, electronics, agricultural, cosmetics and beauty, and so on.
According to the Business of Sustainability Index, 66% of all US consumers prefer using sustainable packaging, with 80% of consumers aged 18-34 years old preferring it. They are a younger generation that is willing to pay more for more sustainable products than their competitors who are less sustainable.
However, there is a market demand for sustainable packaging. In order to accommodate changing consumer behaviors and needs, both buying food to cook at home and ordering food from restaurants, the food and beverage industry, in particular, should experience massive and continuous growth in the future. This influence is likely to be a significant motivator. As a result, the sustainable packaging industry is rapidly expanding and expanding into new industries.
Statistics on US imports
In the first 11 months of 2022, the United States imported $505 million in paper food packaging (HS482369) from around the world by importing from Thailand as No. 11 for 5.2 million US dollars more than the previous year 1171.13% (1. China, 2. Taiwan, 3. Canada) during the same period, where Thailand has an advantage over China with a 0% import tax rate, while China has a 25% import tax rate.
Cr. United States International Trade Commission
Next chapter we will talk about the packaging design trend of 2023 and analysis opportunities for Thai products.