The increasing environmental issues linked to traditional petroleum-based packaging materials have stimulated a rising curiosity in investigating sustainable alternatives, especially in the field of food packaging. The present study investigates the characterisation of bio-based materials that have the potential to significantly transform food packaging applications. The main aim of this study is to evaluate the feasibility of using these materials as ecologically sustainable substitutes, taking into account their physical, mechanical, barrier, and thermal characteristics. The study process includes the careful selection of a wide array of bio-based materials, such as biopolymers derived from agricultural wastes, chemicals derived from algae, and derivatives of cellulose. The use of a holistic approach allows for a thorough assessment of the sustainability of the materials. The research findings presented in this study make a valuable contribution to the expanding corpus of information pertaining to sustainable packaging options. As there is a growing worldwide focus on reducing plastic waste and minimising ecological impacts, the findings of this research contribute to the promotion of a more sustainable approach to food packaging. These findings are in line with the concepts of a circular and bio-based economy.