openPR Logo
Press release

Sustainable Plastic Packaging Market to Reach $117.3 Billion by 2025 : Leading Players are Amcor PLC (Australia), Sonoco Products Company (US), Sealed Air Corporation (US), Huhtamaki OYJ (Finland) and Berry Global Inc. (US)

08-25-2020 11:53 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MarketsandMarkets.com

Sustainable Plastic Packaging Market to Reach $117.3 Billion

The report "Sustainable Plastic Packaging Market by Packaging Type (Rigid, Flexible, Industrial), Packaging Format (Primary, Secondary, Tertiary), Process (Recyclable, Reusable, Biodegradable), End-use Sector, and Region - Global Forecast to 2025" The global sustainable plastic packaging market size is projected to grow from USD 89.0 billion in 2020 to USD 117.3 billion by 2025, at a CAGR of 5.6% during the forecast period.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=147972697

The global sustainable plastic packaging market size is projected to grow from USD 89.0 billion in 2020 to USD 117.3 billion by 2025, at a CAGR of 5.6% during the same period. The market is projected to grow in accordance with the growth of various end-users of sustainable plastic packaging across the globe. The sustainable plastic packaging industry has been growing as a result of stringent laws and regulations levied by governments and governing bodies, as well as a shift in consumer preference toward recyclable and eco-friendly packaging materials. Apart from these factors, downsizing of packaging and breakthrough in new technologies are also driving the sustainable plastic packaging market globally.

In terms of value and volume, the biodegradable segment is estimated to be the fastest-growing process in the sustainable plastic packaging market between 2020 and 2025.
Biodegradable plastic decomposes naturally in the environment. This is achieved when microorganisms in the environment metabolize and break down the structure of biodegradable plastic. It is less harmful to the environment than traditional plastics. Biodegradable plastics can be composed of bioplastics manufactured from renewable raw materials. Innovation plays a key role in the biodegradable plastic packaging market. Several companies are investing in R&D in search of new packaging materials that are beneficial in use and non-toxic to the environment.

The food & beverage segment is estimated to be the largest end-use sector in the sustainable plastic packaging market in 2019.
The food & beverage industry is a major one in the sustainable packaging market. The primary function of food & beverage packaging is to reduce food loss and increase the shelf-life of food products. The global players are aiming at using innovative packaging materials developed from degradable and recyclable materials in order to achieve sustainability. Consumers seek convenience food solutions due to lack of time. The expectations of food quality, hygiene, and growing health awareness are driving the sustainable packaging market in the food & beverage sector.

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=147972697

APAC is projected to account for the largest share in the sustainable plastic packaging market during the forecast period.
The APAC region is projected to lead the sustainable plastic packaging market, in terms of both value and volume, between 2020 and 2025. According to the World Bank, in 2017, APAC was the fastest-growing region in terms of both population and economic growth. Countries such as India and China are expected to post high growth in the sustainable plastic packaging market due to growing developmental activities and rapid economic expansion. The growing population in these countries presents a huge customer base for FMCG products and consumer durables.
The growing awareness among the masses about the importance of eco-friendly, renewable packaging, the growing food & beverage industry, and low manufacturing and labor costs are driving the sustainable plastic packaging market in APAC.

The key players in the sustainable plastic packaging market included in this report are Amcor PLC (Australia), Sonoco Products Company (US), Sealed Air Corporation (US), Huhtamaki OYJ (Finland), Smurfit Kappa Group PLC (US), Mondi Group (South Africa), Uflex Ltd. (India), Berry Global Inc. (US), Constantia Flexibles (Austria), and AptarGroup (US). Acquisitions and new product developments are some of the major strategies adopted by these key players to enhance their positions in the sustainable plastic packaging market.

Recent Developments :
• In February 2020, Amcor PLC launched the first container for Ritual Multivitamins (US) made from 100% Post-Consumer Recycled content (PCR) resin. PCR is composed of recycled materials, including PET beverage bottles that have been used and subsequently recycled to produce a new product. Using PCR helps support the recycling infrastructure and reduces demand on virgin resins.
• In January 2020, Sealed Air Corporation, launched a new version of their bubble wrap brand packaging that is made with at least 90% recycled content. The recycled content used to make this version of bubble wrap brand packaging is sourced from post-industrial materials that would otherwise end up in landfills.
• In October 2019, Sonoco ThermoSafe, a unit of Sonoco Products Company, announced the creation of Orion R, which is a high-performance temperature controlled box rental service. It is made of lightweight, rugged EPP (Expanded Polypropylene), which is substantially more reusable than existing rental parcels and enables the pharmaceutical supply chain to cost-effectively and sustainably ship small parcels globally.

Key Questions Addressed by the Report:
• What are the global trends in the sustainable plastic packaging market? Would the market witness an increase or decline in the demand in the coming years?
• What is the estimated demand for different types of packaging in sustainable plastic packaging?
• Where will the strategic developments take the industry in the mid to long-term?
• What are the upcoming industry applications and trends for sustainable plastic packaging?
• Who are the major players in the sustainable plastic packaging market globally?

Get 10% Customization on this Report @ https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=147972697

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Sustainable Plastic Packaging Market to Reach $117.3 Billion by 2025 : Leading Players are Amcor PLC (Australia), Sonoco Products Company (US), Sealed Air Corporation (US), Huhtamaki OYJ (Finland) and Berry Global Inc. (US) here

News-ID: 2120641 • Views: 183

More Releases from MarketsandMarkets.com

Ceramic Tiles Market worth $285.1 billion by 2025 | Leading Players are Mohawk I …
The report "Ceramic Tiles Market by Type (Porcelain, Glazed, Unglazed), Application (Floor, Internal Wall, External Wall, Others), End-Use Sector (Residential & Non-residential), & Region - Global Forecast to 2025", is projected to grow from USD 207.7 billion in 2020 to USD 285.1 billion by 2025, at a CAGR of 6.5% during the forecast period. Growth in investments in the construction industry, coupled with a rise in the number of renovation
Precast Concrete Market worth $146.13 billion by 2027 | Leading Players are Acti …
The report "Precast Concrete Market by Element (Columns & Beams, Floors & Roofs, Girders, Walls & Barriers, Utility Vaults), Construction Type (Elemental, Permanent Modular, Relocatable), End-use Sector (Residential, Non-residential), and Region – Global Forecast to 2027". The precast concrete market size is projected to grow from USD 109.38 billion in 2018 to USD 146.13 billion by 2027, at an estimated CAGR of 5.96%. The precast concrete market is projected to
Heavy Construction Equipment Market worth $180.7 billion by 2021 | Leading Playe …
The Heavy Construction Market is projected to grow from USD 129.1 billion in 2016 to USD 180.7 billion by 2021 at a CAGR of 7.0%. Rapid urbanization, rising demand for infrastructural development from developing economies, increasing investment in the construction industry, growth in population, and increased spending of people are the key drivers of the heavy construction equipment market. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1211 Earthmoving equipment is projected to remain the largest
Pre-engineered Buildings Market to Reach $25.0 billion by 2024 | Leading Players …
The report "Pre-engineered Buildings Market by Structure (Single-story, Multi-story), Application (Warehouses & industrial, Infrastructure, Commercial), & Region (North America, Asia Pacific, Europe, South America, Middle East & Africa) - Global Forecast to 2024" The pre-engineered buildings market is projected to reach USD 25.0 billion by 2024, at a CAGR of 11.5% from 2019. Factors such as rapid industrialization, growth in the infrastructural investments, an increase in the use of steel

All 5 Releases


More Releases for MarketsandMarkets™

Automotive Interior Market - Global Forecast to 2025 | MarketsandMarkets
According to the new market research report "Automotive Interior Market by Component (Seat, Interior Lighting), Material (Glass Composite, Carbon Composite, Metal, Vinyl, Fabric), Autonomous Driving (Semi-autonomous, Autonomous), Electric Vehicle, Vehicle Type and Region - Global Forecast to 2025 " Published by MarketsandMarkets™, The global Automotive Interior Market is projected to reach USD 153.8 billion by 2025 from USD 123.2 billion in 2020, at a CAGR of 8.8% during the forecast
Automotive Fuse Market Insights by 2025| MarketsandMarkets
The Automotive Fuse Market is projected to grow at a CAGR of 6.84% during the forecast period, to reach $24.33 Billion by 2025 from $14.33 Billion in 2017. The market is estimated to grow in the near future owing to various factors such as an increase in vehicle production, growing electrification, growing importance of safety & comfort features in mid-segment vehicles which will lead to increase in the number of
Latest report on Top Packaging Trends by MarketsandMarkets™
The report "Top Packaging Trends (Aseptic Packaging, Insulated Packaging, Antimicrobial Packaging, Modified Atmosphere Packaging, Protective Packaging, Smart Labels, Sterile Packaging, Anti-counterfeit Packaging, and Vacuum Packaging) - Forecast to 2021", The global packaging market is witnessing high demand owing to the rise in manufacturing activities. The market is driven by factors such as strong growth in the demand from end-use sectors such as food & beverage, pharmaceuticals & healthcare, and cosmetics
Global Connected Car Market by 2025| MarketsandMarkets
According to recent research "Connected Car Market by Service (Connected Services, Safety & Security, and Autonomous Driving), Form (Embedded, Tethered, and Integrated), Network (DSRC, and Cellular), End Market, Transponder, Hardware, and Region - Global Forecast to 2025", The global connected car market is estimated to be USD 72.89 billion in 2017 and is projected to reach USD 219.21 billion by 2025, at a CAGR of 14.8% from 2017 to 2025.
Vehicle Diagnostics Market by Vehicle Type, Application, Connectivity - 2021 | M …
The report "Vehicle Diagnostics Market by Vehicle Type, Application (Automatic Crash Notification, Vehicle Tracking, Vehicle Health Alert & Roadside Assistance), Connectivity (3G, 4G LTE, Wi-Fi, Bluetooth), Region, & Aftermarket (Vehicle Type & Region) - Forecast to 2021", The vehicle diagnostics market is projected to reach a market size of USD 30.22 Billion by 2021, growing at a CAGR of 16.79% from 2016 to 2021. Stringent emission norms, the rising demand
Latest Report on Top 10 Mobility Technologies by MarketsandMarkets
According to the new market research report "Top 10 Mobility Technologies Market by Technology (Bluetooth, Wearable Technology, Mobile Augmented Reality, Wireless Gigabit, Cellular IoT, Mobile Biometric, Automotive V2X, Wireless Charging For Consumer Electronics) & Geography - Global Forecast to 2022", the market is expected to grow at a significant rate between 2016 and 2022. This report covers the major mobility technologies such as cellular IoT, wireless gigabit, mobile augmented