Press release
Plastic Alternative Packaging Market Expansion Continues, with Forecast Valuation of $13.78 Billion by 2029
Plastic Alternative Packaging
Plastic Alternative Packaging Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The plastic alternative packaging market has grown rapidly in recent years. It is projected to expand from $6.22 billion in 2024 to $7.24 billion in 2025, with a CAGR of 16.5%. Past growth was driven by demand for industrial packaging, plastic pollution concerns, and rising preference for eco-friendly substitutes.
Plastic Alternative Packaging Market Size Forecast: What's the Projected Valuation by 2029?
Anticipated to hit $13.78 billion by 2029, the market size for alternative packaging to plastics is forecasted to enjoy a substantial growth in the coming years, with a compound annual growth rate (CAGR) of 17.4%. The surge in the forecast period is likely due to advancements in technology, heightened consciousness, initiatives by the government, and greater access to alternative packaging to plastics. Key trends for the forecast period include the pursuit of partnerships with established corporations and research institutions, investment in mono-material packaging solutions, utilizing industrial wastes for upcycling and producing innovative alternative packaging to plastics, utilization of artificial intelligence (AI), inclination towards mergers and acquisitions, and the emphasis on eco-friendly bioplastics.
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What Are the Drivers Transforming the Plastic Alternative Packaging Market?
The escalating apprehension about the environment due to the utilization of plastics has largely contributed to the expansion of the plastic alternative packaging market. The detrimental pollutants present in plastic goods inflict harmful impacts on human beings, animals, and the environment. There is a growing preference among customers for environmentally-friendly packaging substitutes that can replace plastic packaging. Earth.org, a non-profit organization based in Hong Kong, revealed in January 2024 that roughly 14 million tons of plastic are discarded into the oceans every year, leading to severe damages to habitats of wildlife and impacting marine life. If there is no immediate action, this count could escalate to 29 million metric tons per annum by 2040. Microplastics included, the total quantity of plastic present in the ocean could hit 600 million tons by that year. The trend towards adopting substitutes for plastics has attracted global businesses, which in turn, aids the expansion of the plastic alternative packaging market.
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What Long-Term Trends Will Define the Future of the Plastic Alternative Packaging Market?
In the plastic alternative packaging sector, businesses are shifting their attention towards mono-material packaging solutions in an effort to provide a more sustainable polyolefins-based packaging solution that facilitates improved circularity. These products utilise a single polymer which enhances recyclability as there isn't any requirement for disassembly before recycling. This eliminates the need for material separation, removing the chances of contaminating a recycling stream and thereby making it easier to recycle. Innovative polypropylene (PP) solutions are being adopted by companies as they serve as feasible mono-material replacements for multi-material plastics. They provide a superior moisture barrier, heat resistance, and make the packaging highly transparent. An example of this occurred in November 2023, when TIPA, a company based in Israel focusing on biodegradable and compostable packaging solutions, unveiled a revolutionary fully compostable and recyclable tray made from waste products of rice. These unique trays can be discarded in domestic compost bins and their exclusive pulp composition enables them to be recycled with paper. They mitigate air pollution caused by the burning of agricultural waste and serve as an eco-friendly substitute to traditional plastic packaging.
Which Segments in the Plastic Alternative Packaging Market Offer the Most Profit Potential?
The plastic alternative packaging market covered in this report is segmented -
1) By Type: Starch-Based Plastic, Cellulose Based Plastics, Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), Other Types
2) By Process: Bio-Based Or Non-Biodegradable, Biodegradable
3) By Application: Food And Beverage, Personal Care, Health Care, Other Applications
Subsegments:
1) By Starch-Based Plastic: Thermoplastic Starch (TPS), Starch Blends And Composites, Biodegradable Starch Films
2) By Cellulose-Based Plastics: Cellulose Acetate, Cellulose Film Products, Regenerated Cellulose
3) By Polylactic Acid (PLA): Injection-Molded PLA Products, Extruded PLA Films, Rigid And Flexible PLA Containers
4) By Polyhydroxyalkanoates (PHA): PHA Granules For Molding, PHA Films And Coatings, PHA Blends With Other Materials
5) By Other Types: Mushroom-Based Packaging, Paper And Cardboard Composites, Seaweed-Based Packaging, Other Biodegradable Materials
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Which Firms Dominate the Plastic Alternative Packaging Market by Market Share and Revenue in 2025?
Major companies operating in the plastic alternative packaging market include BASF, Amcor plc, Tetra Pak International SA, Sealed Air, Evergreen Packaging, Rengo Co. Ltd, International Paper Company, Mondi Group PLC, Futamura Group, SECOS Group, Huhtamaki, Shanghai PRECISE Packaging Co, SIG Combibloc, Greatview Aseptic Packaging, BioPak, Himalayan Packaging Industries Pvt. Ltd., Decon India Plastics Private Limited, West Pharma, Qingdao Likang Packing., Smurfit Kappa, DS smith, Element Packaging LTD, Delyn Packaging Ltd, CP Packaging Ltd, Surepak innovative packaging company, Epac flexible packaging, Enviroplast Inc., TC Transcontinental, PolyFerm Canada, TerraVerdae Bioworks Inc., Kruger Inc., Klabin SA, HP Inc., Choose Packaging, Plastic Suppliers Inc., Saudi Investment Recycling Company (SIRC), Bemis Company Inc., Winpak LLC, Rotopak LLC, Gulf East Paper and Plastic Industries LLC, Arabian Packaging LLC, Amber Packaging Industries LLC, Diamond Packaging Industries LLC, Astrapak Ltd (RPC Group), Nampak Ltd., Mpact Pty Ltd, Foster Packaging, Consol Glass (Pty) Ltd., East African Packaging Industries Ltd (EAPI), Constantia Afripack (Pty) Ltd, Bonpak (Pty) Ltd., Frigoglass South Africa (Pty) Ltd.
Which Regions Offer the Highest Growth Potential in the Plastic Alternative Packaging Market?
North America was the largest region in the plastic alternative packaging market in 2024. The regions covered in the plastic alternative packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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