Global Sustainable Plastic Packaging Market Study Analysis: Growing Food And Beverage Industry Will Increase The Demand For Sustainable Plastic Packaging Market In The Coming Years

The global Sustainable Plastic Packaging market is expected to grow from $ billion in 2020 to $ billion in 2028 at a CAGR of 11%. Sustainable packaging is the development and use of packaging which leads to improved sustainability. For a product or material to be sustainable, it must be socially, environmentally, and economically sustainable. Plastics provide a great contribution to environmental sustainability through their energy-saving potential and intrinsic recyclability & energy recovery options.

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Global Sustainable Plastic Packaging Drivers And Restrain:
Biodegradable plastic decomposes naturally in the environment unlike other types of plastic. This is due to the microorganisms in the environment, which metabolize and break down the structure of biodegradable plastic. Biodegradable plastic is less harmful to the environment as compared to traditional plastics. Biodegradable plastics consist of bio-plastics that are manufactured from renewable materials. Innovation plays a crucial role in the biodegradable plastic packaging market. Various companies are increasingly investing in research & development activities, to search for new packaging materials that are non-toxic to the environment, thereby fuelling the growth of the sustainable plastic packaging market.

The growing food and beverage industry is a major factor driving the growth of the sustainable plastic packaging market. The primary function of food & beverage packaging is to decrease food loss and increase the shelf- life of food products. The major key players are focusing on suing innovative packaging materials, which are developed from degradable and recyclable materials to obtain sustainability. Consumers highly demand convenience for food solutions due to their busy lifestyles. The expectations of food quality, hygiene, ad increasing health awareness accelerate the demand for sustainable plastic packaging in the food & beverage industry, thus driving the market growth.

The rising demand for biodegradable plastics is a significant factor driving the growth of the sustainable plastic packaging market. Government bodies of various regions have laid out stringent regulations regarding the use of biodegradable plastic instead of recycled plastic. Recycled plastics are more harmful to the environment due to the additional coloring agents, flame retardants, and other chemicals. Thus, biodegradable plastics are highly demanded which in turn drives the growth of the sustainable plastic packaging market.

The factors restraining the growth of the global Sustainable Plastic Packaging market include substitution from the conventional packaging industry since they are more cost-efficient than sustainable plastic packaging.

Covid-19 Scenario:
• Impact on Market Size
• End-User Trend, Preferences, and Budget Impact
• Regulatory Framework/Government Policies
• Key Players Strategy to Tackle Negative Impact
• Opportunity Window

Global Sustainable Plastic Packaging Market Segments:
The global Sustainable Plastic Packaging market is further segmented into packaging type, process, end-user, and geography.
By Packaging Type: Rigid, Flexible, and Industrial
By Process: Recyclable, Reusable, and Biodegradable
By End-User: Food & beverage, Personal care, and Healthcare

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa and South America)

The Asia Pacific region dominates the global sustainable plastic packaging market due to increasing developmental activities and rapid economic expansion. Furthermore, the increasing population in countries such as India and China presents a large customer base for FMCG products and consumer durables, which in turn boosts the demand for sustainable plastic packaging. The increasing awareness among the consumers regarding the importance of eco-friendly, renewable packaging, the growing food & beverage industry, and the low manufacturing & labor costs further drive the growth of the sustainable plastic packaging market in the Asia Pacific region.

Key Players of Global Sustainable Plastic Packaging Market:
• Amcor PLC
• Sonoco Products Company
• Sealed Air Corporation
• Huhtamaki OYJ
• Berry Global Inc
• Mondi
• Ardagh Group S.A
• Plastipak Holdings Inc
• Bemis Company Inc
• UFlex Limited

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Key Questioned Answered Through The Report:
• The Impact of COVID-19 on the global market
• What are the potential opportunities for new entrants in the global market
• What is the market Size and Forecast from 2020 to 2028?
• Key Players associated with the global Sustainable Plastic Packaging Market
• Value Chain Analysis of Global Sustainable Plastic Packaging Market
• What is the CAGR of the global Sustainable Plastic Packaging Market from 2021 to 2028
• Major Growth Factor, Challenges, Trends, and Opportunities in the global market
• Key outcomes of SWOT Analysis

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