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Sustainable Plastic Packaging Market Size, Trends, Insights, Demand, Growth, Market Research Report 2024-2033: Strategic Analysis and Outlook
Sustainable Plastic Packaging Market
The sustainable plastic packaging market size is expected to see strong growth in the next few years. It will grow to $166.6 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to e-commerce growth, investment in recycling infrastructure, consumer education, sustainable packaging innovations, innovation in sustainable materials.. Major trends in the forecast period include biodegradable plastics, recyclable packaging, plastic reduction initiatives, innovative materials, smart packaging..
Market Overview -
The sustainable plastic packaging is used to package different kinds of items such as food and beverage, healthcare and others. Sustainable plastic packaging is generally recyclable, reusable, or biodegradable depending on the chemicals used during the manufacturing process making it a preferred choice for organizations due to its lightweight and low cost. It minimizes dependency on fossil fuels, reduces the consumption of natural resources, promotes energy-efficient manufacturing, reduces landfills, and improves ocean cleanliness.
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Sustainable Plastic Packaging Gains Momentum And Is Driving Market Growth Across Industries
The increase in adoption of sustainable plastic packaging materials from different industries will propel the growth of the sustainable plastic packaging market during the forecast period. Various industries are looking at and promoting sustainable plastic for their packaging solutions because they're light, inexpensive and are recyclable or reusable. For instance, Unilever, British multinational consumer goods company reduced its plastic from 711,000 tons in 2018 to 599,000 tons in 2021 by around 16%. This high rate of reduction in plastic materials is creating a demand for the adoption of sustainable packaging thereby driving the growth of the sustainable plastic packaging market.
Competitive Landscape -
Major companies operating in the sustainable plastic packaging market include Amcor Ltd, Sonoco Products Company, Huhtamaki OYJ, WestRock Company, Smurfit Kappa Group PLC, Mondi plc, Tetra Laval International SA., BASF SE, DS Smith Plc, Genpack LLC, E. I. du Pont de Nemours and Company, Sealed Air Corporation, Crown Holdings Inc., Bemis Company Inc., Uflex Ltd., Ardagh Group Holdings S.A., Plastipak Holdings Inc., Elopak AS, Berry Global Group Inc., AptarGroup Inc., Coveris Holdings S.A., Constantia Flexibles Group GmbH, Klöckner Pentaplast Group GmbH & Co. KG, Winpak Ltd., Eco-Products Inc., Vegware Ltd., Biopak Pty Ltd., Sabert Corporation, Novamont S.p.A.
Biodegradable Plastic Reshaping The Future
The increase in use of biodegradable plastic are shaping the sustainable plastic packaging market. Major companies operating in the sustainable plastic packaging market are focused on adopting biodegradable plastic to package their products due to their beneficial traits like reduction in carbon emission, eco-friendly disposable solution and more. In April 2021, Paptic Ltd., a Finland based packaging company launched a new sustainable packaging material grade for carrier bags and e-commerce mailers. Paptic has developed a new 100gsm packaging material grade that is both renewable and recyclable, as well as having unique touch and feel characteristics. It's a special grade designed specifically for carrier bags and e-commerce mailers. Wood fibers from 100% sustainably managed woods are the primary raw source. To optimize brand exposure and reusability, the new grade delivers great printability and durability.
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Key Segments -
The sustainable plastic packaging market covered in this report is segmented -
1) By Packaging Type: Rigid, Flexible, Industrial
2) By Packaging Format: Primary Packaging, Secondary Packaging, Tertiary Packaging
3) By Process: Recyclable, Reusable, Biodegradable
4) By End-Use Sector: Food And Beverage, Personal Care, Healthcare, Other End-Use Sectors
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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