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Plastic Alternative Packaging Market Overview, Outlook, Size, Share, Demand 2024-2033
Plastic Alternative Packaging Market Overview
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According to The Business Research Company's, The plastic alternative packaging market size has grown rapidly in recent years. It will grow from $5.33 billion in 2023 to $6.25 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. The growth in the historic period can be attributed to increased demand for industrial packaging products, environmental concerns over plastics and rising inclination towards alternatives to plastics.
The plastic alternative packaging market size is expected to see rapid growth in the next few years. It will grow to $11.84 billion in 2028 at a compound annual growth rate (CAGR) of 17.3%. The growth in the forecast period can be attributed to technological advances, rising awareness, government initiatives and an increase in availability of plastic alternative packaging. Major trends in the forecast period include focus on establishing collaborations with research institutions and established companies, focus on investment in mono material packaging solutions, focus on leveraging industrial wastes to upcycle and create innovative plastic alternative packaging materials, focus on use of artificial intelligence (ai), focus on mergers and acquisitions and focus on use of environment-friendly bioplastics.
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Market Drivers and Trends:
Growing environmental concerns associated with plastic usage are a major driver of the growth of the plastic alternative packaging market. Plastic products consist of deadly pollutants and cause harmful effects on humans, animals, and the environment. Customers are interested in eco-friendly packaging options as a replacement for plastic packaging. For instance, in November 2021, according to the Office for National Statistics (ONS) Opinions and Lifestyle Survey (OPN), a UK-based national statistical institute, in October 2021, three-quarters (75%) of adults in the United Kingdom expressed concern about the effects of climate change. The rising inclination towards alternatives to plastics has attracted businesses worldwide, which contributes to the growth of the plastic alternative packaging market.
Companies in the plastic alternative packaging market are focusing on mono-material packaging solutions to offer a more sustainable polyolefins-based packaging solution with greater circularity. The products are based on a single polymer increasing recyclability as it doesn't need to be disassembled before being recycled. These materials eliminate the need for material separation and the risks of tainting a recycling stream, making recyclability easier to achieve. Companies are using new polypropylene (PP) solutions, which are viable monomaterial substitutes for multimaterial plastics, offering a higher moisture barrier, thermal resistance, and high transparency to develop mono material packaging. Also, in 2021, the Japanese printing company, Dai Nippon Printing Co., Ltd. developed a mono-material packaging combining oxygen and water vapor barrier properties that accommodate heat sterilization with high-level recyclability and are suitable for long shelf life of the contents.
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Major Key Players of the Market:
3M, Hu-Friedy Mfg Co LLC, Dentsply Sirona, Patterson Companies Inc, NuSmile Ltd, Acero Crowns, Kinder Krowns, Sprig Oral Health Technologies Inc, Space Maintainers Laboratories, Denovo Dental, Toothsi, ezsmile, SmilePath, Star Smile, Clove Dental, Angelalign, Keen Dental, Q&M Dental Holdings, Shenzhen Midway Dental Lab Co Ltd, PlusDental, UK Sedation, Straight Teeth Direct, Dentelia, DB Orthodontics, German Dental Clinic Ltd., Colosseum Dental UK, Dental Fantasy, Happy Smile, CONMET, Jsc Oez Vladmiva, DENT ESTET 4KIDS, Kavident Dental Center, Comfort Care Dental, Greenpoint Pediatric Dentistry, NuSmile Inc., Leduc Dental Centre, SickKids, Comfort Care Dental Clinic, Bow Trail Dental, CRH Oral Design Inc, The Dental Clinic & GT Concept Asociados, Smiles Peru - Dental Health, Drs. Pelcman Practice, Saudi German Hospitals Group, Appolonia World, Dr. Paul's Dental Clinic, Sno Dental Clinics, Souq Dental, Pearl Dental Clinic, DSI Dental Solutions, Richmond Dental Clinic, Platinum Dental Surgery, King Pediatric Dentistry, Smith And Van Lierop Dentist, Blouberg Dental, Miles Of Littles Smiles, Inter Africa Dental
Plastic Alternative Packaging Market 2024 Key Insights:
• The plastic alternative packaging market size is expected to see rapid growth in the next few years. It will grow to $11.84 billion in 2028 at a compound annual growth rate (CAGR) of 17.3%.
• Environmental Concerns Propel Growth Of Plastic Alternative Packaging Market
• Focus On Mono Material Packaging Solutions Gains Traction In Plastic Alternative Packaging Market
• North America was the largest region in the plastic alternative packaging market in 2023
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