Increasing use of single-use plastic packaging waste and rising number of environmental problems, plastic pollution in oceans and landfills, and increasing awareness about packaging waste among consumers has led to emergence of sustainable plastic packaging. Sustainable plastic packaging is essential as it helps in reducing carbon footprint by using recyclable, biodegradable, or reusable packaging. Various manufacturers are using recycled or biodegraded plastic in their packaging solutions.
High adoption of sustainable packaging materials across several industrial verticals including, FMCG, wholesale, healthcare and pharmaceutical, and food and beverage, and increasing investments in research and development activities for developing more sustainable plastic packaging materials are some key factors supporting market growth. Paradigm shift towards eco-friendly, recyclable packaging materials among consumers, stringent government regulations against plastic usage, and rising focus on promoting biodegradable plastic packaging are factors expected to boost market growth going ahead.
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Some of the key players in the sustainable plastic packaging market include:
Bemis Company Inc., Amcor Limited, Mondi, WestRock Company, Tetra Laval International SA., Sonoco Products Company, BASF SE, Sealed Air, Smurfit Kappa, Gerresheimer AG, Huhtamaki, Ardagh Group S.A., BALL CORPORATION, DS Smith, Crown Holdings, Berry Global Inc., International Paper, Genpack LLC, Reynolds, Uflex Ltd., DuPont, and Evergreen Packaging LLC.
Few Finding from the Report
- Based on the process, the recyclable segment held the largest share of the overall revenue of the market owing to growing demand for materials that can be recycled, such as paper.
- Based on the end user, the personal care industry is witnessing substantial growth over the forecast period owing increasing demand for hygiene products coupled with growing health awareness among consumers.
- North America is expected to hold significant share in the revenue of the sustainable plastic packaging market owing to several efforts by governments in the region. The Asia pacific dominated the overall sustainable plastic packaging market in 2020 and is predicted to retain its dominance over the forecast period. This growth of the region is attributable to the swiftly changing economies such as China and India.
- The market for sustainable plastic packaging displays the competitive scenario owing to several key players operating globally. The players are increasingly investing more on new product development and improvement, which is estimated to benefit market growth over the foreseeable future.
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For the purpose of this report, Reports and Data has segmented the global sustainable plastic packaging market on the basis of packaging type, packaging, process, end user, and region:
By Packaging Type Outlook (Revenue, USD Billion; 2018-2028)
By Packaging Outlook (Revenue, USD Billion; 2018-2028)
- Primary packaging
- Secondary packaging
- Tertiary packaging
By Process Outlook (Revenue, USD Billion; 2018-2028)
By End-Use Outlook (Revenue, USD Billion; 2018-2028)
- Food & beverage
- Personal care
By Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- Asia Pacific
- Latin America
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