Sustainable Packaging Market - Global Industry Analysis

Sustainable Packaging Market

Sustainable Packaging Market Size, Share, Trends, Growth, Forecast 2028

Category: Packaging Report Format : PDF Pages: 188 Report Code: ZMR-1356 Published Date: May-2022 Status : Published
Market Size in 2022 Market Forecast in 2030 CAGR (in %) Base Year
USD 265.9 million USD 358.3 Billion 5.10% 2022

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The term sustainable packaging refers to the development and use of packaging materials that improve the sustainability of a material. It is designed to safeguard the product throughout its lifecycle. The different materials used for sustainable packaging are glass, metal, and plastic, among others. 

In the last few years, it has been observed that the consumer preference is shifting toward the recyclable and eco-friendly materials. This is one of the major growth drivers for the sustainable packaging market. Global environmental concerns regarding sustainable development and enforcement of stringent rules by various governments globally have increased the usage of sustainable packaging material. The development of alternative materials, such as bioplastics, is likely to increase the demand for environment-friendly packaging in the forecast time period. The key market players are also taking various steps toward the development and growth of this market. For instance, Hovis, one of the major key players, launched renewable packaging polyethylene, which is used in bread packaging. However, the lack of awareness about the importance of sustainability in some emerging economies might restrain the sustainable packaging market. However, the growth of the e-commerce industry is likely to provide lucrative growth opportunities in the global sustainable packaging market.

Global Sustainable Packaging Market

The global sustainable packaging market can be segmented based on material, function, process, application, and layer. By material, the market includes paper and paperboard, plastic, metal, glass, and others. By layer, the market is segmented into primary, secondary, and tertiary packaging. By process, the market includes recycle, reusable, and degradable processes. The function segment includes active, molded, and alternate fiber packaging. Based on application, the sustainable packaging market is fragmented into food and beverage, personal care, healthcare, and others. The food and beverage segment is likely to be the dominant segment of this market in the future. Increase in the demand for packaged food and beverages is expected to drive the demand for sustainable packaging in the upcoming years.

Based on regions, the sustainable packaging market is classified into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific held the most significant share of the sustainable packaging market in terms of volume during 2017. This can be attributed to the huge demand for food and beverages in developing regions, such as China, India, etc. The North American sustainable packaging market is also likely to witness noteworthy growth during the forecast time period.

Some major players of the global sustainable packaging market are Sealed Air Corporation, Bemis Company, Inc., Mondi PLC, Westrock Company, Sonoco Products Company, Smurfit Kappa Group PLC, Tetra Laval International S.A., Huhtamaki OYJ, BASF SE, and Amcor Limited, among others.

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