Press release
Global Sustainable Plastic Packaging Market Worth $183.27 Billion by 2029, Growing at 10.2% CAGR
Sustainable Plastic Packaging
Sustainable Plastic Packaging Market Outlook: What Size And CAGR Are Anticipated By 2025?
The market size for sustainable plastic packaging has seen significant growth over the past few years. It is projected to increase from $115.62 billion in 2024 to $124.07 billion in 2025, boasting a compound annual growth rate (CAGR) of 7.3%. This growth during the historic period can be attributed to increased environmental consciousness, regulatory pressures, consumer demand, corporate sustainability targets, and cost efficiency.
What Is the Expected CAGR for the Sustainable Plastic Packaging Market Growth Through 2029?
The market for sustainable plastic packaging is projected to experience a swift expansion in the upcoming years, anticipated to reach $183.27 billion by 2029, with a compound annual growth rate (CAGR) of 10.2%. The surge during the prediction timeframe can be credited to factors such as proliferation of e-commerce, investments in recycling facilities, consumer awareness, advancements in sustainable packaging, and breakthroughs in sustainable materials. Key trends expected during this period encompass biodegradable plastics, recycling packaging efforts, initiatives to reduce plastic usage, unique materials, and intelligent packaging designs.
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What Are the Primary Drivers Behind Sustainable Plastic Packaging Market Growth?
The sustainable plastic packaging market is expected to grow significantly in the forecasted period due to the increasing use of sustainable plastic packaging materials across various industries. Because of their lightweight, cost-effectiveness, and recyclability or reusability, a lot of industries are leaning and endorsing towards this form of packaging. As per the statistics released by the Plastic Packaging Tax (PPT), a department of HM Revenue & Customs, in August 2024, there was a rise in the taxable fraction of plastic packaging from 41% in 2022-2023 to 42% in 2023-2024. This notable reduction in plastic materials usage is fostering the need for environmentally friendly packaging and in turn, advancing the growth of the sustainable plastic packaging market.
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What Are the Key Segments Driving Sustainable Plastic Packaging Market Growth?
The sustainable plastic packaging market covered in this report is segmented -
1) By Packaging Type: Rigid, Flexible, Industrial
2) By Packaging Format: Primary Packaging, Secondary Packaging, Tertiary Packaging
3) By Process: Recyclable, Reusable, Biodegradable
4) By End-Use Sector: Food And Beverage, Personal Care, Healthcare, Other End-Use Sectors
Subsegments:
1) By Rigid: Bottles and Jars, Containers and Tubs, Trays and Boxes
2) By Flexible: Pouches and Bags, Films and Wraps, Laminated Packaging
3) By Industrial: Pallets and Crates, Bulk Containers, Drums and IBCs
What Are the Technological Trends Impacting the Sustainable Plastic Packaging Market?
Leading entities in the sustainable plastic packaging industry are putting their efforts into creating advanced products like polyolefin, with the aim to decrease the total weight of products. Polyolefin, which consists mainly of polyethylene (PE) and polypropylene (PP), is a class of polymers derived from olefin (alkene) monomers, known for its multifunctional features, longevity, and wide-ranging uses in different industry sectors. For example, in March 2024, Repsol, an international multi-energy company based in Spain, introduced Repsol Reciclex, a sustainable polyolefin employed in the manufacturing of new lubricant containers. This innovation concentrates on developing sustainable polyolefins which integrate recycled substances, specifically designed for packaging purposes. The product line emphasis is on mechanically recycled post-consumer plastic usage, thus significantly reducing packaging's ecological footprint in varied industry sectors, particularly in lubricants. With the increased use of recycled materials in its products, Repsol Reciclex supports the circular economy, contributing to waste reduction and a decrease in carbon emissions. This product range aligns with Repsol's wider sustainability goals, showcasing the company's dedication to innovation and responsible management of resources.
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Who Are the Major Competitors in the Global Sustainable Plastic Packaging Market?
Major companies operating in the sustainable plastic packaging market include 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, Crown Holdings Inc., Bemis Company Inc., Uflex Ltd., Ardagh Group Holdings S.A., Plastipak Holdings Inc., Elopak AS, Berry Global Group Inc., AptarGroup Inc., Coveris Holdings S.A., Constantia Flexibles Group GmbH, Klöckner Pentaplast Group GmbH & Co. KG, Winpak Ltd., Eco-Products Inc., Vegware Ltd., Biopak Pty Ltd., Sabert Corporation, Novamont S.p.A.
Which Region Dominates the Sustainable Plastic Packaging Market Share in 2025?
Asia-Pacific was the largest region in the sustainable plastic packaging market in 2024. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the sustainable plastic packaging market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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