Sustainable Packaging Market Scope
Desperate measures are being taken to reduce ecological footprint and release negative impact on the environment. Sustainable packaging is observed to contribute largely to the same. Market Research Future (MRFR) identified this to be a primary factor that is expected to boost the growth of the global sustainable packaging market. MRFR reveals that the worldwide is likely to expand at a CAGR of about 7% over the forecast period (2017-2023).
Packaging plays an essential role in our business by meeting consumer needs for convenience and portability, while protecting and preserving our products throughout the supply chain. In recent years, manufacturers have made a considerable effort of creating environmentally friendly and sustainable packaging. Quality packaging helps safe and sustainable products.
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MRFR specified strong contender of the global sustainable packaging market. They are;
- BASF SE (Germany)
- Silgan Holdings Inc. (U.S.)
- Amcor Limited (Australia)
- Bemis Company Inc. (U.S.)
- Mondi plc. (Austria)
- The Dow Chemical Company (U.S.)
- Sonoco Products Company (U.S.)
- Stora Enso Oyj (Finland)
- DS Smith Plc. (U.K.)
- Genpak, LLC (North Carolina)
- Smurfit Kappa Group Plc. (Dublin) and others
Sustainable Packaging Market Insights
Currently, increase in disposal of plastic waste is a major concern. Plastic, which is a widely used packaging material is a non-biodegradable material. This is likely to increase ecological footprint. In sustainable packaging, the use of easily degradable materials is observed to reduce carbon foot-print. Hence, is expected to promote the market growth. Other factors such as effective use of packaging materials, better protection from occupational hazards, and less exploitation of natural resources are anticipated to impede the market growth.
Despite the presence of strong market boosters, the global sustainable packaging market is likely to encounter certain challenges. High cost of raw materials can be a major constraint in the growth of the market.
The global sustainable packaging market has been segmented on the basis of packaging type, process, material, and application.
By packaging type, the global market has been segmented into Bags & Pouches, Tubes, Corrugated Box, and others. Bags and poches are the commonly exploited form of sustainable packaging that can bolster the market growth. By material, the global market has been segmented into Glass, Plastic, Paper & Paperboard, and metal. The surge in demand for bio-plastic packaging is expected to spur the market growth. By process, the global market has been segmented into Degradable Packaging, Reusable Packaging, and Recycled Packaging. An increased usage of reusable and recyclable packaging across its end-users has been noted, which is likely to favor the market in the near future. High adoption of degradable packaging is expected to surge the global sustainable packaging market. By application, the global market has been segmented into food and beverages, personal care, pharmaceutical, and others. The extensive use of sustainable packaging in the food and beverage industry is expected to leave a beneficial impact on its market growth over the evaluation period.
By region, the sustainable packaging market has been studied across Europe, North America, Asia Pacific, and the Rest of the World (RoW).
In Asia Pacific, the high adoption of eco-friendly solutions in the manufacturing industry is expected to benefit the sustainable packaging market. Higher utility of reusable and recyclable packing materials in emerging economies like India, China, and Japan can favor the regional market. APAC is likely to hold its preeminence in the global market over the review period. This is due to the existence of stringent environmental norms of the region, supporting sustainable development. The market in Europe and North America is also expected to surge in the upcoming years owing to innovations being roll-out.
DANSANI, a Coca-Cola company’s branded water bottle, launched innovations in sustainable packaging.
Salling Group, a largest retailer of Denmark, announced its latest sustainable packaging strategy.
Geka, a company that deals in steel, presented sustainable packaging solution.
Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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