AMCOR Recognized as A Market Leader in the "Top 21 Sustainable Packaging Companies, Worldwide 2023" by MarketsandMarkets 360 Quadrant

Sustainable packaging, also known as eco-friendly or green packaging, refers to optimizing the renewable and recycled source of materials using clean production and transportation technologies in order to effectively utilize and recover biological or industrial life cycle. The sustainable packaging approach aims to reduce waste, conserve resources, and decrease the carbon footprint associated with traditional packaging methods.

Even though there are multiple benefits of sustainable packaging, one significant hindrance to its widespread adoption is the initial investment required to transition from conventional packaging methods. Many companies are cautious due to concerns about increased costs, limited availability of eco-friendly materials, and the potential impact on product shelf life and protection. Addressing these challenges through innovation, collaboration, and a shared commitment to sustainability is essential for the continued growth of sustainable packaging across industries.

The Sustainable Packaging Companies Quadrant is a comprehensive industry analysis that provides valuable insights into the global market for Sustainable Packaging. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and emerging trends shaping the industry. MarketsandMarkets 360 Quadrants evaluated over 80 Sustainable Packaging companies of which the top 21 Sustainable Packaging companies were categorized and recognized as the quadrant leaders.

The 360 Quadrant effectively maps the companies based on factors such as revenue, geographic presence, growth strategies, investments, channels of demand, and sales strategies that were considered for the market presence of Sustainable Packaging's quadrant. While the top criteria for product footprint evaluation included Material (Paper & Paperboard, Plastic, Metal, Glass), Process (Recycled, Reusable, Degradable), Function (Active, Molded Pulp, Alternate Fiber), Application (Food & Beverage, Healthcare, Personal Care, Others), Sustainable Initiatives, and Incorporation of PCR content.

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AMCOR - The Market Leader

Amcor is one of the global leaders in developing and producing responsible packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other products. The company was identified as the market leader in the 360 Quadrant owing to its robust presence, diverse product portfolio, and its reputation for excellence over the years. It offers products through brands like AmFoil, AmFiber, and EcoGuard. The AmFoil brand covers aluminum-based products and the AmFiber™ brand covers paper-based products. Whereas the EcoGuard™ brand facilitates various sustainable options across a range of materials. The products offered by the company are designed with sustainability attributes like, recyclability, reusability, lower carbon footprint, lightweighting, biomaterial, reusability, composability, etc.

Amcor is adopting various growth strategies such as acquisitions, expansions, and partnerships. Recently, in August 2023, the company expanded its footprint in Asia-Pacific with the acquisition of Phoenix Flexibles (India). In June 2023, the company announced the expansion of its AmFiber Performance Paper packaging range in Europe to include heat seal sachets for dry culinary and beverage applications, such as instant coffee, drink powders, spices, seasonings, and dried soups. Additionally, the company also invested in manufacturing capacity to meet growing demand for this kind of paper packaging. Earlier in November 2022, Amcor's AmSky, a recycle-ready healthcare blister system innovation, won the U.S. Plastics Pact Sustainable Packaging Innovation Award in the Recyclability category. It is created using polyethylene (PE), which can be recycled through rigid and flexible packaging streams.

In January 2018, the company pledged to design all its packaging to be recycled, compostable,
or reusable by 2025 and also committed to increase the amount of recycled content the company uses. The company is focused on making packaging that is increasingly lighter weight, recyclable and reusable, and made using an increasing amount of recycled content.

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360 Quadrants Scoring Methodology

360 Quadrants employs a comprehensive and transparent scoring methodology to evaluate companies. It identifies relevant evaluation criteria, collects, and validates data from multiple sources, and employs an algorithm that considers parameter weights to generate scores. Normalization ensures fair comparisons, and the aggregated scores categorize solutions into quadrants such as Market Leaders, Contenders, Innovators, and Emerging Companies. This unbiased approach equips users with accurate information, empowering them to make well-informed decisions and select solutions that best suit their needs and objectives.

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This release was published on openPR.