Press release
Sustainable Plastic Packaging Market: Escalating From $115.62 Billion to $187.19 Billion from 2024-2029
Sustainable Plastic Packaging Market
What Is The Projected Market Size Of The Global Sustainable Plastic Packaging Market And Its Growth Rate?
The sustainable plastic packaging market is witnessing a robust expansion with its market size escalating from:
• $115.62 billion in 2024 to $125.29 billion in 2025
• Projected growth to $187.19 billion by 2029.
The impressive CAGR of 8.4% in the recent years and the forecasted CAGR of 10.6% are influenced by factors like environmental awareness, consumer demand, corporate sustainability goals, cost efficiency, regulatory pressures, e-commerce growth, and more.
What Is Driving The Growth In The Sustainable Plastic Packaging Market?
The growth of the sustainable plastic packaging market is facilitated by the rising adoption in various industries. The merits of these sustainable packaging materials, such as their lightweight nature, cost-effectiveness, recyclability, and reusability, make them highly sought-after. The Plastic Packaging Tax (PPT) suggested a surge in the taxable portion of plastic packaging from 41% in 2022-2023 to 42% in 2023-2024. This growing emphasis on sustainability is driving the broad adoption of sustainable packaging, fueling the market growth in the process.
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Who Are the Key Players Driving Sustainable Plastic Packaging Market Growth?
The growth of the sustainable plastic packaging market is bolstered by leading companies including:
•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
What Are The Key Trends In The Sustainable Plastic Packaging Market?
In the wake of rapid expansion, major trends shaping the sustainable plastic packaging market include:
•Biodegradable plastics
•Recyclable packaging
•Plastic reduction initiatives
•Innovative materials
•Smart packaging
What Are The Segments Of The Global Sustainable Plastic Packaging Market?
The global sustainable plastic packaging market divides into several segments:
•By Packaging Type: Rigid, Flexible, Industrial
•By Packaging Format: Primary Packaging, Secondary Packaging, Tertiary Packaging
•By Process: Recyclable, Reusable, Biodegradable
•By End-Use Sector: Food And Beverage, Personal Care, Healthcare, Other End-Use Sectors
Which Region Leads The Sustainable Plastic Packaging Market?
Leading the sustainable plastic packaging market, Asia-Pacific emerged as the largest market region in 2024. With foreseeable prospects of being the fastest-growing region, the market covers regions including Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Sustainable Plastic Packaging Market Global Market Report?
- Market Size Analysis: Analyze the Sustainable Plastic Packaging Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Sustainable Plastic Packaging Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Sustainable Plastic Packaging Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Sustainable Plastic Packaging Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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