Sustainable Packaging Market - Global Industry Share, Growth, Trends and Forecast By 2024

Global Sustainable Packaging Market: Overview

The global market for sustainable packaging has witnessed steady pace of expansion in the recent years and is expected to continue to embark upon a path of healthy growth in the next few years. The vast rise in concerns pertaining to rising industrial pollution, waste generation, and unproductive use of resources and materials are primarily paving way for the increased focus of the industrial sector on the development and increased usage of sustainable solutions. Thus, the concept of sustainable packaging is evolving rapidly in the packaging industry.

Download Brochure@ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=9314

This report presents a comprehensive account of the growth prospects of the market and forecasts its potential growth dynamics over the period between 2016 and 2024. The report also gives a complete account of the various factors that are expected to have a notable impact on the overall development of the market in the next few years.

Global Sustainable Packaging Market: Trends and Opportunities

The global market for sustainable packaging is primarily propelled by stringent government regulations, which are compelling manufacturers to opt for sustainable packaging solutions over traditional packaging. The growing consumer interest regarding environment-friendly and sustainable products is also boosting the uptake of sustainable packaging products across the globe. Moreover, the vast benefits of sustainable packaging in terms of reduced operational cost through recycling and reuse are also catalyzing the growth of the market.

On the other hand, the growth of the market is hindered by the lack of stringent scenario in emerging countries regarding the use of sustainable packaging. However, the increasing scope of applications of sustainable packaging is likely to work in favor of the market in the near future.

Global Sustainable Packaging Market: Segmentation

The key materials used for sustainable packaging are glass, metal, paper and paperboard, and plastic. The demand for paper and paperboard is likely to remain high in the next few years. Sustainable packaging is primarily used for food and beverage packaging, industrial goods packaging, and pharmaceutical and healthcare packaging. On the basis of type of packaging, the market is classified into rigid packaging, flexible packaging, and packaging accessories.

Geographically, Asia Pacific is expected to be a leading revenue contributor throughout the forecast period. The growth of the region is largely supplemented by the widening base of consumers along with their rising purchasing power. Europe and North America will also account for a large combined share in the revenue pie of the market. The stringent government regulations pertaining to environment conservation and the growing consumer preference for eco-friendly solutions are translating into the greater uptake of sustainable packaging in these regions. Latin America is anticipated to exhibit noteworthy CAGR during the review period, owing to the flourishing growth of the packaging industry.

Global Sustainable Packaging Market: Competitive Dynamics

The report also presents a comprehensive account of the competitive landscape of the global sustainable packaging market. The report presents an account of the recent developments in the market and the detailed business profiles of some of the leading companies operating in the sector on regional as well as global fronts. The report states that the market is becoming increasingly competitive and companies are adopting strategic collaborations, mergers, and acquisitions as key growth strategies with the view of consolidating the market. Companies in the market are also allocating sizeable funds in research and development activities to introduce innovative solutions at an increased pace in the market.

Browse Report@ https://www.transparencymarketresearch.com/sustainable-packaging-market.html

Some of the prominent players in the market are Amcor Ltd, Anchor Packaging, Ball Corporation, Bemis, Crown Holdings, Genpak, Reynolds Group, Silgan Holdings Inc., and Tetra Pak International S.A.

About Us:-

Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

Contact Us:-

State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
Email: sales@transparencymarketresearch.com

This release was published on openPR.