Sustainable Packaging Market Top Players - Amcor Limited, Bemis Company, Inc., Tetra Laval International S.A., Mondi Plc.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Sustainable Packaging Market Size, Share & Trends Analysis Report By Material (Paper & Paperboard, Plastic, Metal, Glass), Process (Recycled, Reusable, Degradable), Function (Active, Molded Pulp, Alternate Fiber), Application (Food & Beverage, Healthcare, Others) & Layer (primary, secondary, and tertiary)- Market Outlook And Industry Analysis 2031"

The global Sustainable Packaging Market is estimated to reach over USD 656.11 billion by 2031, exhibiting a CAGR of 7.81% during the forecast period.

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Sustainable packaging is widely utilized across various industries, with its most significant applications observed in sectors such as food and beverage, FMCG, retail trade, wholesale, and healthcare. This innovative packaging concept has introduced new avenues for development, offering numerous opportunities for entrepreneurs to explore previously untapped areas within the field. The adoption of sustainable packaging in diverse end-use industries, including food and beverage, healthcare, cosmetics and personal care, and e-commerce, has been a key driver of market growth. The demand for flexible, rigid plastics, and corrugated packaging has been increasing, particularly in response to heightened awareness of hygiene standards.

In the food packaging industry, the demand for sustainable solutions has remained robust, fueled by consumer preferences for environmentally responsible products. Additionally, the rising demand for sustainable food packaging among consumer packaged goods (CPG) companies is expected to further propel the popularity of convenience foods. Green packaging offers several advantages, including a reduction in dependence on fossil fuels, lower consumption of natural resources, increased use of recyclable materials, energy-efficient production processes, and a greater reliance on renewable resources.

List of Prominent Players in the Sustainable Packaging Market:
• Amcor Limited
• Ardagh Group S.A.
• Ball Corporation
• BASF SE
• Bemis Company, Inc.
• Crown Holdings Incorporated
• DS Smith PLC
• Elopak AS
• Emerald Packaging
• Huhtamaki OYJ
• Mondi Group
• Nampak Ltd
• PlastiPak Holdings Inc
• Sealed Air Corporation
• Sgf packaging Co. Ltd
• Smurfit Kappa Group Plc.
• Sonoco Products Company
• Tetra Pak International S.A.
• Westrock Company

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Market Dynamics:
Drivers:
Green packaging materials, including recyclable paper and plastics, bio-plastics, organic fabrics, plant-based biomaterials, and reconditioned products, are gaining significant traction due to their environmental benefits. These materials are easy to use, biodegradable, and present a viable alternative to traditional plastics, offering a lower environmental impact. They are also non-reactive with food, ensuring protection from contamination and other external factors. The European Union has implemented stricter regulations regarding packaging and packaging waste. By 2030, all plastic packaging must be recyclable, with 55% of it successfully recycled. Currently, only approximately 30% of all plastic packaging is collected, which is driving increased demand for green packaging solutions in the food sector.

Challenges:
Despite the benefits, there are several environmental challenges associated with packaging solutions. The use of biodegradable and compostable materials, along with concerns over recycling efficiency, presents significant obstacles. In 2017, the Institute of Recycling Industries (ISRI) issued clarifications on the use of biodegradable additives in packaging. The research highlighted that the environmental and human health risks of these degradable compounds have not been fully assessed, raising concerns about their long-term impact.

Regional Trends:
The sustainable packaging market in Europe is expected to capture a significant market share in terms of revenue and is projected to grow at a robust CAGR in the coming years. This growth is driven by the increasing demand for eco-friendly and cost-effective packaging materials. European companies such as Tetra Pak, Mondi Plc, and others are intensifying their research and development efforts to promote the adoption of bioplastics, which will further accelerate regional market expansion. Additionally, rising consumer environmental awareness in Asia, particularly in China, India, Japan, and South Korea, is prompting an increased focus on sustainable packaging solutions, which is expected to boost market growth in these regions.

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Recent Developments:
• In July 2021, Mondi and converter FioriniInternational cooperated to create a novel paper packaging alternative for Antico PastificioUmbro, an Italian luxury pasta product maker. When applied to all pasta products, the new 100% recyclable packaging could reduce the amount of plastic used by up to 20 tonnes per year.

Segmentation of Sustainable Packaging Market-
By Material-
• Paper & paperboard
• Plastic
• Metal
• Glass
By Layer-
• Primary
• Secondary
• Tertiary
By Process
• Recycled content packaging
• Reusable packaging
• Degradable packaging
By Function
• Active packaging
• Molded pulp packaging
• Alternate fiber packaging
By Application
• Food & beverage packaging
• Healthcare packaging
• Personal care packaging
• Others (Electronic Appliances and Home Care Packaging)
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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This release was published on openPR.