Sustainable Packaging Market Gains Momentum as Global Demand Surges, Projected to Reach $406.66 Billion by 2029

In a landmark development, the Global Sustainable Packaging Market has witnessed unprecedented growth, reaching USD 281.42 billion in 2022 and poised to surge to USD 406.66 billion by 2029, marking a robust CAGR of 5.4% during the forecast period. This surge is attributed to the escalating global focus on eco-sustainable packaging, driven by a surge in urbanization that results in heightened waste production.

The world, with over 50% of its population residing in urban areas, is grappling with escalating waste levels, providing a fertile ground for sustainable packaging opportunities. Packaging companies are responding to this environmental challenge by increasingly embracing sustainable solutions, leveraging their experience in recycling and advancements in technology.

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Sustainable Packaging Market Scope:

Sustainable Packaging market report is an ultimate guideline for business development and provides the user with ins and outs of the industry whether a user is an investor, business owner, or wants to start a business in the same industry.

Analysis in the report is conducted using widely used and trusted tools such as SWOT, and PESTLE analysis, which gives an analysis of the impacts such as political, social-cultural, economic, technological, and environmental impacts, also can build strategic planning and management using this analysis.

The report is designed in such a manner that it provides the readers the appropriate and up-to-date market data in graphical and tabular forms.

Industries Drive Sustainable Packaging Growth: Food Processing, Personal Care, and Pharmaceuticals Take the Lead

A surge in investments within the food processing, personal care, and pharmaceutical sectors is propelling the sustainable packaging market forward. Companies are actively investing in research and development to create packaging solutions that meet both sustainability standards and aesthetic preferences. Notable examples include Tetra Pak, a multinational specializing in sustainable carton packaging, and PepsiCo, which is pioneering various sustainable packaging initiatives.

Sustainable Packaging Market Segmentation:

by Material Type

1. Paper and Paperboard
2. Plastics
1. Biodegradable
2. Bio-based
3. Aluminum
4.Others

In 2022, the paper and paperboard segment had the highest revenue share of 21.2%, determined by Material Type. An encouraging trend that indicates a growing understanding of the need for sustainable packaging solutions is the high demand for sustainable paper and paperboard materials for the import and export of packaging products. It is anticipated to increase in the upcoming years as a step towards a more sustainable future. Paper and paperboard are sustainable packaging materials that Amazon has promised to use for its shipments. The company has implemented several eco-friendly packaging programmes, such as switching to paper-based cushioning materials in place of plastic ones and using corrugated boxes with a high percentage of recycled content.

by Packaging Type

1. Rigid Packaging
2. Flexible Packaging

According to packaging type, the segment with rigid packaging held a significant market share of approximately 18.2% in 2022 and is anticipated to continue doing so throughout the forecast period. A lot of businesses are making rigid packaging products with sustainable materials.

by End User

1. Pharmaceutical and Healthcare
2. Cosmetics and Personal Care
3. Food and Beverage
4. Other End Users

The food and beverage segment held a notable market share of approximately 56.3% in 2022, and it is anticipated to continue growing throughout the forecast period, according to the End User. Many businesses are using recycled plastics in their packaging, either by developing new packaging solutions that are made completely of recycled materials or by adding recycled content to their current packaging. The food and beverage industry is also seeing an increase in the use of reusable packaging. Reusable packaging options, like refillable receptacles or packaging that can be sent back to the manufacturer for further use, are being investigated by certain businesses.

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Major Players:

1. Sonoco Products Company
2. Amcor pie
3. Gerresheimer AG
4. Smurfit Kappa
5. Ball Corporation
6. BASF SE
7. Ardagh Group S.A.
8. Crown Holding,Inc.
9. WestRock Company
10. DS Smith
11. Mondi
12. International Paper
13. Berry Global
14. Printpack
15. Sealed Air
16. Stora Enso Oyj
17. Georgia-Pacific
18. Huhtamaki
19. Genpak,LLC
20. Tetra Pak InternationalS.A.
21. Billerud
22. Albea S.A.
23. HCP Packaging

Regional Analysis:

As Sustainable Packaging market tends to rapid growth within the forecast period, the MMR report is structured to support that volatility with a regional analysis of the market.

Regional market analysis helps to understand the regional potential of the industry with detailed data that shows the traditional way of business, regional opportunities, trading chains, challenges and others.

This report is the ultimate guide for a new player in the industry to know the regional market competition, challenges, and advantages, to build their strategies and plans accordingly.

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Key Questions answered in the Sustainable Packaging Market Report are:

  • What is Sustainable Packaging Market?
  • What is the forecast period of the Sustainable Packaging Market?
  • What is the competitive scenario of the Sustainable Packaging market?
  • Which region held the largest market share in the Sustainable Packaging Market?
  • What are the opportunities for the Sustainable Packaging Market?
  • What factors are affecting the Sustainable Packaging market growth?
  • Who are the key players of the Sustainable Packaging market?
  • Which company held the largest share in the Sustainable Packaging market?
  • What will be the CAGR of the Sustainable Packaging market during the forecast period?
  • What key trends are likely to emerge in the Sustainable Packaging market in the coming years?

 

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