Global Sustainable Packaging Market Is Likely To Grow At A CAGR Value Of Around 5.10% By 2028

06-May-2022 | Zion Market Research

The Sustainable Packaging Market was worth around USD 265.9 billion in 2021 and is estimated to grow to about USD 358.3 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.10 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.

Sustainable packaging consumes less energy and has fewer negative environmental consequences. In variation to products such as plastic and Styrofoam, green packing solutions include biodegradable and recyclable materials. Sustainable packaging also saves energy and minimises the amount of greenhouse gas emissions produced. The introduction of bioplastics, environmental concerns about sustainable development, and regulatory agencies enforcing strict laws and policies are some of the factors that boost the growth of the market in the forecast period. Furthermore, rising consumer awareness of sustainable packaging techniques that employ bioplastics as a raw material across numerous industries, such as FMCG, personal body care, and pharmaceuticals, would propel market expansion in the approaching years. Sustainable packaging reduces greenhouse gas emissions as it uses fewer fossil fuels in its production, and the products are biodegradable in nature, thereby propelling the growth of the market in the upcoming years. Land-filled organic food and garden waste release methane gas that is used as renewable energy and the compost by-product is used to enhance soil quality which will have a positive impact on the green packaging market growth in the future. Moreover, concerns about environmental impacts caused by the increased use of plastic bottles across the food and beverage industry, leading to several companies using recycled plastic (rPET) in their bottle design, thus, boosting the market growth. However, high production and setup costs have refrained businesses to adapt green packaging.

Global Sustainable Packaging Market

The Sustainable Packaging Market is segregated based on Application, and Packaging Type. Based on Application, the global market is distinguished into Food & Beverages, Personal Care, Healthcare, and Others. Based on Packaging Type, the global market is classified into Recycled Content Packaging (Paper, Plastic, Metal, Glass, Others), Reusable Packaging (Drum, Plastic Container, Others), Degradable Packaging.

During the projection period, the Asia Pacific region dominated the market. This is due to the increasing consumption of convenience food and beverages due to the high population density.  Moreover, due to rising consumer concern about the environment, package makers in countries such as China, India, Japan, and South Korea are increasingly focusing on sustainable packaging solutions. The regional market is projected to be driven by this. Raw materials for the manufacturing of cartons, bags, boxes, and other packaging equipment are easily available throughout Southeast Asia. This is also predicted to have a favorable influence on the market. North America is expected to show considerable growth in the market attributed to strict policies supporting green and sustainable packaging. Europe is one of the market's most important areas. The local market is being driven by the growing need for sustainable packaging materials, which are both cost-effective and environmentally benign. Furthermore, the regional market will be driven in the coming years by the expanding R&D supporting the usage and development of bioplastic by European-based enterprises.

Key players functioning in the Sustainable Packaging Market include Amcor; Be Green Packaging; DS Smith; DuPont; Evergreen Packaging; Mondi; Nampak; Ball Corporation; Sealed Air; Tetra Laval.

Recent developments:

  • In 2021, Amcor has produced the first designed-to-be-recycled plastic packaging for powdered chocolate in Latin America. When compared to conventional packaging, this novel method reduces the package's carbon footprint by 53% and its water usage by 85% when recycled. In Colombia, the new sachet will be offered in a 25g sachet style with a high-barrier function to guard against humidity.
  • In 2021, Amcor launched Polyethylene-based thermoform blister packaging. The new packaging is meant to fulfil the strict criteria of highly specialised and regulated pharmaceutical packaging while also providing a more sustainable alternative to the most popular kind of healthcare packaging. This innovation also benefits from up to a 70% reduction in its carbon footprint, when compared to packaging alternatives on the market today.

Browse the full Sustainable Packaging Market By Application (Food & Beverages, Personal Care, Healthcare, and Others.). By Packaging Type (Recycled Content Packaging (Paper, Plastic, Metal, Glass, Others), Reusable Packaging (Drum, Plastic Container, Others), Degradable Packaging) Report at https://www.zionmarketresearch.com/report/sustainable-packaging-market

Sustainable Packaging Market is segmented as follows:

 By Application Outlook

  • Food & Beverages
  • Personal Care
  • Healthcare
  • Others

 By Packaging Type Outlook

  • Recycled Content Packaging
  • Reusable Packaging
  • Degradable Packaging

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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