Plastic-Free Packs Market is projected to reach US$ 8,000.8 million by 2032

By 2032, the market for plastic-free packaging is expected to have grown from US$ 3,671.8 million in 2022 to US$ 8,000.8 million, with a CAGR of 8.1% during the forecast period (2022-2032).

The packaging industry is emphasizing the use of plastic substitutes like metal, paper, or glass, which is driving demand for plastic-free packaging because these materials are easily biodegradable and recyclable.

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Ethique, a skincare product company located in New Zealand, has adopted plastic-free packs for the packaging of their cosmetic items and employs materials like cardboard and paper. This has led to an increase in the sales of plastic-free packs.

Researchers in the United States have created an edible film that resembles plastic wrap and is manufactured from milk protein.

The Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Plastic-Free Packs

With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.   

In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.

Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Plastic-Free Packs market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.

Key Plastic-Free Packs Market Takeaways and Projections

*The U.S. is expected to lead the North America Plastic-Free Packs market, projecting the fastest growth in the region between 2022 and 2032
Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
*China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
*India is expected to emerge as a highly remunerative market in South Asia, contributing a significant revenue share in the region through 2032.

Report Benefits & Key Questions Answered

Plastic-Free Packs Historical Market Analysis: The detailed survey by FMI, examines key factors in the Plastic-Free Packs market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Plastic-Free Packs market for the forecast period 2022-2032.

Plastic-Free Packs Demand Outlook Analysis: Future Market Insight's (FMI's) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Plastic-Free Packs for the assessment period. As per the study, the demand for Plastic-Free Packs will grow at a robust CAGR between 2022 and 2032.

Plastic-Free Packs Market Trend Analysis: The latest study by FMI on the Plastic-Free Packs market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.

Competitive Landscape Analysis

The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Plastic-Free Packs market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.

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Key Segments:

By Material:

Metal
Steel
Tin free steel
Aluminium
Aluminium foil
Tinplate
Paper
Glass

By Packaging Type:

Pouches
Box
Tubes
Blister and Strip
Bottles and Jars
Cartons
Trays
Cans

By End Use:

Cosmetics
Food and Beverage
Pharmaceutical
Consumer Products

By Region:

North America
Latin America
Europe
The Asia-Pacific
The Middle East and Africa

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This release was published on openPR.