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Sustainable Packaging Material Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos

Sustainable Packaging Material Market

Sustainable Packaging Material Market

Emerging awareness among consumers about the harmful impact of the usage of regular plastics, the awareness of environmentally friendly packaging materials, and the increasing adoption of non-toxic and petroleum-free materials are some of the key factors that are contributing to the growth of the sustainable packaging materials market. As per the UN environment program, around one million plastic bottles are purchased every minute across the globe, while up to five trillion plastic bags are used worldwide every year. In total, half of all plastic produced is designed for single-use purposes - used just once and then thrown away. Moreover, With the global production of primary plastic is forecast to reach 34 billion tonnes by 2050. So, with the growing emphasis on reducing packaging waste, the demand for sustainable packaging material is on rise.

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The Sustainable Packaging Material Market is expected to grow at a steady rate of around 8% owing to the emerging preference for sustainable food packaging in the hospitality industry. One of the biggest applications of plastic is in the packaging as it extends the shelf life and brings down the packaging weight during transportation. However, only 5% of the total plastic packaging is retained for subsequent use, while the rate of recycling for other plastic products is even lower in comparison, 58% of paper and 70-90% of steel.
According to UnivDatos Market Insights (UMI)' research report "Global Sustainable Packaging Material Market", the market is expected to witness robust growth during the forecast period (2022-2028). A rise in the number of food chains, QSRs, and cafés across the globe is leading to the growth of the sustainable food packaging market. As per the Department for Environment Food & Rural Affairs, the expenditure on food, drinks, and catering was USD 312 billion in the United Kingdom in 2019. Also, Canadian fast-food statistics reveal the Canadian fast-food industry is worth an impressive US$27 billion in 2021. It is expected to grow by 0.8% compared to the previous year.

Based on product, the market is segmented into paper & paperboard, plastic, metal, and glass. The plastic category accounted for a significant share of the market in 2020. Plastic materials are often chosen for packaging applications that require toughness and impact resistance thanks to their enhanced durability, which in turn guarantees product safety. The significant lightweight and design freedom make it a versatile material that reduces the costs of shipping and transportation.

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Based on the process, the market is categorized into recycled content packaging, degradable packaging, and reusable packaging. Recycled materials are one of the top options for sustainable brand packaging. These can include recycled paper, plastic, and even fabrics. These materials are reused as raw materials by manufacturers to produce new packaging goods, reducing pollution produced by packaging trash.

APAC to witness extensive growth
For a better understanding of the market adoption of the Sustainable Packaging Material industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia Pacific is expected to witness the highest CAGR during the forecast period on account of the rise in the number of cafés, hotels, and restaurants. As of 2020, Asia-Pacific had the most establishments at over 17 million. In comparison, the region with the second-highest number of food services establishments was Latin America with over 2.3 million.

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According to UnivDatos Market Insights (UMI)', the key players with a considerable market share in the sustainable packaging material market are BASF SE, Amcor Plc, Westrock Company, Sonoco Products Company, TetraPak International SA, Sealed Air Corporation, Mondi PLC, Ball Corporation, Ardagh Group SA, Smurfit Kappa Group PLC.

"Global Sustainable Packaging Material Market" provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors' capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.

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Market Segmentation:
1. By Material Type (Paper & Paperboard, Plastic, Metal, Glass)
2. By Process (Recycled, Reusable, Degradable)
3. By End-User (Pharmaceutical & Healthcare, Food & Beverage, Others)
4. By Region (North America, Europe, Asia-Pacific, Rest of the World)
5. By Company (BASF SE, Amcor Plc, Westrock Company, Sonoco Products Company, TetraPak International SA, Sealed Air Corporation, Mondi PLC, Ball Corporation, Ardagh Group SA, Smurfit Kappa Group PLC.)

Key questions answered in the study:
1. What are the current and future trends of the global Sustainable Packaging Material industry?
2. How the industry has been evolving in terms of type, drive type, and application?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global Sustainable Packaging Material industry?
5. What is the customer orientation, purchase behavior, and expectations from the global Sustainable Packaging Material suppliers across various region and countries?

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UnivDatos Market Insights (UMI)
Ph: +91 7838604911

About Us:
UnivDatos Market Insights (UMI), is a passionate market research firm and a subsidiary of Universal Data Solutions. Rigorous secondary and primary research on the market is our USP, hence information presented in our reports is based on facts and realistic assumptions. We have worked with 200+ global clients, including some of the fortune 500 companies. Our clientele praises us for quality of insights, In-depth analysis, custom research abilities and detailed market segmentation.

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