Press release
Sustainable Packaging Market Advancements Highlighted by Latest Trends and Future Aspect Analysis 2024 - 2031 | Amcor Limited, Westrock Company, TetraPak International S.A.
Sustainable Packaging Market
Global sustainable packaging market is estimated to be valued at USD 400.34 Bn in 2024 and is expected to reach USD 649.42 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Market Dynamics:
The sustainable packaging market is witnessing high growth due to increasing demand for eco-friendly products from consumers and stringent regulations regarding the use of plastics. Regulations such as bans on single-use plastic products in Europe and Canada have further fueled adoption of sustainable alternatives. Additionally, major FMCG and food companies have announced targets to use 100% recyclable or reusable packaging by 2025-2030, which is creating opportunities for sustainable packaging manufacturers. Partnerships between technology providers and packaging companies to develop innovative materials using green chemistry principles will further aid market expansion over the forecast period.
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Sustainable Packaging Market Drivers, Restrains, Opportunities and Trends
Increasing Emphasis on Sustainable and Eco-friendly Packaging Solutions
The sustainable packaging market is witnessing growth due to the increasing emphasis on sustainable and eco-friendly packaging solutions across various end-use industries such as food and beverages, healthcare, and personal care industries. Manufacturers are focusing on using recycled materials, renewable content, and recyclable materials in packaging to reduce carbon footprint. Government regulations regarding the use of plastics and implementation of packaging waste recycling programs are also encouraging manufacturers to shift towards sustainable options. Sustainable packaging helps companies enhance their brand image and position themselves as environmentally responsible organizations.
Growing Popularity of Flexible Packaging Due to Recyclability
Flexible packaging is emerging as one of the fastest growing packaging formats owing to several advantages over rigid packaging. Flexible pouches, bags, and films require less material to package products, helping reduce raw material consumption. Many flexible packaging products are made from recyclable materials such as papers, plastics, and aluminum. They allow packaging multiple products together for transportation and storage benefits. Flexible formats are very well suited for online shopping and food deliveries. With their lightweight and minimal dimensions, flexible packages greatly reduce carbon footprint during distribution. Their rising popularity is expected to drive the demand for sustainable and recyclable flexible packaging solutions.
Regulatory Pressures and Changing Consumer Perceptions Drive Sustainable Packaging Market
Growing regulatory pressures in the form of plastic bans, packaging taxes, extended producer responsibility guidelines are forcing packaging manufacturers to move towards more sustainable options. Strict laws discouraging single-use plastics and mandating minimum recycling content are implemented across the world. Besides regulations, consumer demand for eco-friendly packaging is a major influence. People are actively seeking brands with sustainable credentials and are willing to pay premium prices for green packages. Increased environmental awareness via social media and sustainability campaigns have positively changed mass perceptions. Hence, manufacturers are compelled to manufacture truly sustainable solutions to comply with regulations and meet dynamic consumer expectations.
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Top Companies Featured in This Report:
★ Amcor Limited
★ Westrock Company
★ TetraPak International S.A.
★ Sonoco Products Company
★ Smurfit Kappa Group PLC
★ Sealed Air Corporation
★ Mondi PLC
★ Huhtamaki OYJ
★ BASF SE
★ Ardagh Group S.A
★ Ball Corporation
★ Crown Holdings Inc.
★ DS Smith Plc
★ Genpak LLC
★ International Paper Company
★ Pcakmile
★ Ecoware
★ Greenhandle Products Private Limited
★ Sustainable Packaging Industries
★ Mpacks
Market Segmentation:
By Product Type:
★ By Material Type: Glass, Plastic, Metal, Paper, Others
★ By Process: Reusable Packaging, Degradable Packaging, Recycled Packaging
★ By End User Industry: Pharmaceutical and Healthcare, Cosmetics and Personal Care, Food and Beverage, Other End user Industries
Key Regions/Countries are Classified as Follows:
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
South America (Brazil, Argentina, Rest of SA)
Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Reasons to Obtain Our Comprehensive Market Report:
• Conduct an extensive analysis of various aspects of the Sustainable Packaging Market utilizing Porter's Five Forces framework.
• Gain insights into the growth rate and market shares of different product types and applications/end-users within the Sustainable Packaging Market.
• Explore the Sustainable Packaging Market dynamics across different regions through comprehensive regional analysis.
• Assess the impact of Covid-19 on the Sustainable Packaging Market with a meticulous research approach.
• Stay updated on the latest developments, market shares, and strategies of key market players within the Sustainable Packaging Market.
• Delve into a thorough evaluation of the market strategies, geographical presence, and business segments of the top players in the Sustainable Packaging Market.
• Anticipate key challenges, product advancements, and solutions that may influence the market's progression and threats.
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Key Questions Answered:
• What was the size of the Sustainable Packaging Market in 2021, and what will it be worth by 2030?
• What is the current global scenario for the Sustainable Packaging Market?
• What are the optimal business strategies for maximizing growth potential?
• What are the recent trends in the Sustainable Packaging Market?
• What is the market share in terms of revenue, sales, and size in specific geographical regions?
• Who are the key industry players in the Sustainable Packaging Market?
• Which segments of the Sustainable Packaging Market are in high demand?
Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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