Sustainable Packaging Market Size Worth around USD 20 Billion in 2035 | Roots Analysis

Sustainable Packaging Market Overview

The sustainable packaging market is anticipated to be worth USD 9.67 billion in 2024 and this value is likely to reach USD 19.19 billion by 2035, expanding at a CAGR of 6.43% according to a new report by Roots Analysis.

The growth in the sustainable packaging market size over the next decade is likely to be the result of a rise in the demand for eco friendly, recyclable and biodegradable packaging in the healthcare industry. Sustainable / green packaging materials decompose naturally in the environment and help in reducing the amount of greenhouse gases being generated in the environment, when compared to the conventional packaging materials. These packaging materials are manufactured under strict regulatory guidelines which ensure the safety and integrity of the packaging product.

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Key Report Takeaways

1. Currently, more than 110 players claim to offer sustainable packaging products and / or services; over 80% of these players are headquartered in the developed markets
2. Close to 90% of sustainable packaging providers offer recyclable packaging products and / or services; among these, more than 70% of the providers offer products and / or services related to primary packaging
3. In pursuit of building a competitive edge, players engaged in the sustainable packaging industry are actively upgrading their existing service / product portfolios to comply with the evolving industry benchmarks
4. The growing interest in this domain is is reflected by the increasing number of partnerships established between various stakeholders in the recent past; of these 40% of the deals were acquisitions
5. Foreseeing lucrative returns, many public and private investors have made investments worth around USD 13 billion since 2019; majority of the amount (around 55%) was raised through private placement rounds
6. With the rapid increase in the demand for eco friendly, recyclable and biodegradable packaging in the healthcare industry, the opportunity for companies offering sustainable packaging products and / or services is poised to grow at a CAGR of 7.4%
7. More than 80% of the market is expected to be captured by revenues generated from recyclable / reusable packaging; further, sustainable packaging market in Asia-Pacific is likely to grow at a faster pace

Competitive Landscape of Sustainable Packaging Market

The sustainable packaging market landscape features over 110 players engaged in offering sustainable packaging products and / or services. Overall, the market landscape of sustainable packaging providers is well-fragmented, featuring the presence of very small, small, mid-sized, large, and very large players, which claim to have the required expertise and technologies for the research and development for novel sustainable packaging raw materials. It is interesting to highlight that most of these (~55%) sustainable packaging companies are located in Europe, followed by North America and Asia-Pacific. Additionally, key players, including EPL, PGP Glass, Pharmapac, Safepack Industries and Takemoto Packaging offer products and / or services based on all the four types of eco friendly packaging (biodegradable, recyclable, reducible and reusable)

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Sustainable Packaging Market Regional Outlook

Based on the key geographical regions, the sustainable packaging market can be segmented into six major regions, North America, Europe, Asia Pacific, Middle East and North Africa, Latin America and Rest of the World. Asia-Pacific is anticipated to capture the majority share of the sustainable packaging market in 2024 and this trend is likely to remain unchanged in the forecasted timeframe. Key industry players such as Cosmo Films, EPL, PGP Glass, Shandong Pharmaceutical Glass, Takemoto Packaging and Toppan are pivotal in shaping the market dynamics in this region. Additionally, the rise in patient population in Asia-Pacific leading to increase in the customer-base for pharmaceutical and healthcare products is likely to be the reason for increased adoption of sustainable packaging in the region.

Latin America is likely to exhibit lucrative opportunities owing to increase in economic growth and urbanization in this region. The emergence of several sustainable packaging companies in the area is one factor, promising growth not only in the emerging economies of Latin America, but also in the countries in Middle East and North Africa and Rest of the World.

Sustainable Packaging Market Key Players
Examples of key companies engaged in sustainable packaging market (which have also been profiled in this market report; the complete list of companies is available in the full report) include:

1. Amcor
2. Berry Global
3. Bormioli Pharma
4. Drug Plastics
5. DS Smith
6. EPL
7. Gerresheimer
8. Greiner Packaging
9. Huhtamaki
10. International Paper
11. MM Board & Paper
12. Mondi
13. PGP GLASS
14. PPC Flexible Packaging
15. SGD Pharma
16. Smurfit Kappa
17. Stoelzle Glass
18. Syntegon
19. Takemoto Packaging
20. Tekni-Plex

It is interesting to note that Amcor emerged as one of the most prominent players, having inked maximum deals, during the given time period. Such players are expected to drive sustainable / green packaging across the globe, resulting in substantial market growth during the forecast period.

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Sustainable Packaging Market Segments

Based on the research, Roots Analysis has segmented the Sustainable Packaging Market into Type of Eco friendly Packaging, Type of Packaging, Type of Packaging Container, End-users and Key Geographical Regions.

Sustainable Packaging Market, by Type of Eco friendly Packaging
1. Biodegradable
2. Recyclable / Reusable

Sustainable Packaging Market, by Type of Packaging
1. Primary Packaging
2. Secondary Packaging
3. Tertiary Packaging

Sustainable Packaging Market, by Type of Packaging Containers
1. Ampoules
2. Bottles
3. Boxes
4. Cartons
5. Cartridges
6. Pouches
7. Shippers
8. Syringes
9. Vials

Sustainable Packaging Market, by End-users
1. Pharmaceutical and Biotechnology Companies
2. Research Institutes
3. Other End-users

Sustainable Packaging Market, by Key Geographical Regions
1. North America
2. Europe
3. Asia-Pacific
4. Middle East and North Africa
5. Latin America
6. Rest of the World

Contact Details
Gaurav Chaudhary
Email: Gaurav.chaudhary@rootsanalysis.com or sales@rootsanalysis.com
Website: https://www.rootsanalysis.com

About Roots Analysis
Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serve our clients in the best possible way.

This release was published on openPR.