Sustainable Packaging Market Aggrandizes By 2023 At A Modest CAGR; Asserts MRFR

Market Highlights                                                                                    

The global sustainable packaging market is a very dynamic market and is expected to witness high growth over the forecast period. Packaging plays an essential role in our business by meeting consumer needs for convenience and portability, while protecting and preserving our products throughout the supply chain. In recent years, manufacturers have made a considerable effort of creating environmentally-friendly and sustainable packaging. Quality packaging helps safe and sustainable products. It enables efficient transport and prevents items from spoiling; and differentiates brands on the shelf while giving consumers vital information about products.

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Manufacturers are now under pressure to use ecofriendly material in packaging and adopt methods that have less adverse impact on environment. Sustainable packaging is the eco-friendly type of packaging, which uses recyclable material for packaging process. It also helps reduce the environmental impact. Secondly, increasing environmental concerns and stringent rules and regulation are projected to encourage the demand for sustainable packaging within the forecast period. However, lack of information about sustainable packaging and its benefits, is a major restraint that is likely to hinder the demand of the market.

Reusable packaging, recycled content packaging, and degradable packaging are the major types of global sustainable packaging market. Among all these, recycled content packaging dominated the global sustainable packaging market. It accounted for significant share of the total market. In addition, reusable packaging was the second largest type of sustainable packaging. It is also expected to have remarkable growth in the future, owing to the government regulations coupled with rapidly growing demand for bio-plastic packaging. Moreover, degradable packaging is also projected to have moderate growth.

Market Research Analysis:

By moving beyond conventional packaging methods and materials, companies can reduce their carbon footprints and their transportation and warehousing costs. In terms of region, global sustainable market is segmented into four major regions including North America, Europe, Asia Pacific and RoW. Additionally, Asia Pacific region is expected to be the fastest growing market for green packaging during the forecast period. Increasing consumer awareness coupled with rising demand for recyclable products, acts as a key factor behind the growth of the sustainable packaging market in this region.

The increasing environmental consciousness, is the key factor that is driving the sustainable packaging market. The use of non-biodegradable plastics, causes various harmful effects on the environment such as landfill, soil pollution, and loss of the soil fertility. Stringent regulations are, thus, implemented by the government to improve the conditions of the environment. There are certain regions where the use of plastic bags is completely banned, thus triggering the growth of the sustainable packaging market.

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Scope of the report

This study provides an overview of the global sustainable packaging market, tracking one market segment across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Sustainable Packaging market by its packaging type, material, process, application and region.

Sustainable Packaging Market, By Packaging Type

• Tubes
• Bags & Pouches
• Corrugated Box
• Others

Sustainable Packaging Market, By Material

• Paper & Paperboard
• Glass
• Metal
• Plastic

Sustainable Packaging Market, By Process

• Degradable Packaging
• Recycled Packaging
• Reusable Packaging

Sustainable Packaging Market, By Application

• Pharmaceutical
• Food & Beverages
• Personal Care
• Others

By Region

• North America
• Asia Pacific
• Europe
• Rest of the World

Key Players

The key players of global sustainable packaging market includes Amcor Limited (Australia), Silgan Holdings Inc.( U.S.), Bemis Company Inc.( U.S.), Sonoco Products Company (U.S.), Mondi plc.( Austria), The Dow Chemical Company(U.S.), Stora Enso Oyj(Finland), BASF SE  (Germany), Genpak, LLC(North Carolina), DS Smith Plc.( U.K.), and Smurfit Kappa Group Plc.(Dublin) and others.

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