Sustainable Plastic Packaging Market is expected to grow at 5.6 % CAGR from 2023 to 2029. It is expected to reach above USD 137.17 billion by 2029 from USD 84 billion in 2022.
Introduction: The sustainable plastic packaging market has witnessed remarkable growth in recent years as the global focus on environmental conservation and sustainability has intensified. Plastic packaging, despite its numerous benefits such as durability and versatility, has long been associated with environmental concerns due to its non-biodegradable nature and contribution to pollution and waste. In response to these challenges, the demand for sustainable plastic packaging solutions has surged, driving the development and adoption of eco-friendly alternatives.
This report aims to provide a comprehensive analysis of the sustainable plastic packaging market, exploring its current landscape, emerging trends, challenges, and opportunities. It will delve into the various factors influencing the market growth, including consumer preferences, regulatory frameworks, technological advancements, and industry initiatives towards a circular economy.
The report will begin by presenting an overview of the sustainable plastic packaging market, highlighting the key concepts and defining the scope of the study. It will then discuss the driving forces behind the market growth, emphasizing the growing global awareness of environmental issues and the increasing demand for sustainable packaging options. Furthermore, it will explore the regulatory landscape and evolving industry standards that shape the market dynamics.
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Market Segmentations:
Global Sustainable Plastic Packaging Market: By Company
• Amcor plc
• Bemis Company Inc.
• Tetra Laval International SA.
• Mondi
• WestRock Company
• BASF SE
• Sonoco Products Company
• Smurfit Kappa
• Sealed Air
• Huhtamaki
• Gerresheimer AG
• BALL CORPORATION
• Ardagh Group S.A.
• Crown Holdings
• DS Smith
• International Paper
• Berry Global Inc.
• Reynolds
• Genpack LLC
• DuPont
• Uflex Ltd. and Evergreen Packaging LLC
• Among
Global Sustainable Plastic Packaging Market: Based on Function
• Active
• Moulded pulp
• Alternate fibre.
Global Sustainable Plastic Packaging Market: Basis of Packaging
• Trays
• Bags
• Boxes
• Bottle & jars
• Films
• Pouches & sachets
• Drums
• IBC
Global Sustainable Plastic Packaging Market: Basis Of Process
• Recycled Content
• Reusable
• Degradable
Global Sustainable Plastic Packaging Market: Basis Of End-User
• food
• Beverage
• Automobile & electronics
• Chemical
• Pharmaceutical
• Agriculture and personal care
Global Sustainable Plastic Packaging Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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Objectives of Sustainable Plastic Packaging Market:
Minimize Plastic Waste: One of the primary objectives is to reduce the amount of plastic waste generated from packaging. This involves implementing strategies to minimize the use of virgin plastics, promote recycling, and encourage the use of recycled and biodegradable materials.
Promote Circular Economy: The market aims to transition from a linear economy to a circular economy model, where packaging materials are designed for reuse, recycling, or composting. This objective involves implementing systems and infrastructure that facilitate the collection, sorting, and processing of packaging waste to keep materials in circulation.
Reduce Carbon Footprint: Sustainable plastic packaging seeks to lower the carbon emissions associated with packaging production and disposal. This can be achieved by utilizing materials with a lower carbon footprint, optimizing packaging design to minimize material usage and transportation impacts, and adopting energy-efficient manufacturing processes.
Preserve Product Quality and Safety: While pursuing sustainability, the market aims to ensure that packaging materials maintain the necessary attributes to preserve product quality and safety. Packaging solutions should provide adequate protection against contamination, moisture, and other environmental factors to maintain the integrity of the packaged goods.
Enhance Consumer Perception and Engagement: Sustainable plastic packaging aims to improve consumer perception and engagement by offering environmentally friendly packaging options. By aligning with consumer preferences for sustainable products, brands can enhance their reputation, build customer loyalty, and respond to the growing demand for eco-friendly packaging solutions.
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