The Plastic Alternative Packaging by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Plastic Alternative Packaging, The plastic alternative packaging market size has grown rapidly in recent years. It will grow from $5.33 billion in 2023 to $6.25 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. The growth in the historic period can be attributed to increased demand for industrial packaging products, environmental concerns over plastics and rising inclination towards alternatives to plastics.
The plastic alternative packaging market size is expected to see rapid growth in the next few years. It will grow to $11.84 billion in 2028 at a compound annual growth rate (CAGR) of 17.3%. The growth in the forecast period can be attributed to technological advances, rising awareness, government initiatives and an increase in availability of plastic alternative packaging. Major trends in the forecast period include focus on establishing collaborations with research institutions and established companies, focus on investment in mono material packaging solutions, focus on leveraging industrial wastes to upcycle and create innovative plastic alternative packaging materials, focus on use of artificial intelligence (ai), focus on mergers and acquisitions and focus on use of environment-friendly bioplastics.
Growing environmental concerns associated with plastic usage are a major driver of the growth of the plastic alternative packaging market. Plastic products consist of deadly pollutants and cause harmful effects on humans, animals, and the environment. Customers are interested in eco-friendly packaging options as a replacement for plastic packaging. For instance, in November 2021, according to the Office for National Statistics (ONS) Opinions and Lifestyle Survey (OPN), a UK-based national statistical institute, in October 2021, three-quarters (75%) of adults in the United Kingdom expressed concern about the effects of climate change. The rising inclination towards alternatives to plastics has attracted businesses worldwide, which contributes to the growth of the plastic alternative packaging market.
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The plastic alternative packaging market covered in this report is segmented –
1) By Type: Starch-Based Plastic, Cellulose Based Plastics, Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), Other Types
2) By Process: Bio-Based/Non-Biodegradable, Biodegradable
3) By Application: Food And Beverage, Personal Care, Health Care, Other Applications
Companies in the plastic alternative packaging market are focusing on mono-material packaging solutions to offer a more sustainable polyolefins-based packaging solution with greater circularity. The products are based on a single polymer increasing recyclability as it doesn’t need to be disassembled before being recycled. These materials eliminate the need for material separation and the risks of tainting a recycling stream, making recyclability easier to achieve. Companies are using new polypropylene (PP) solutions, which are viable monomaterial substitutes for multimaterial plastics, offering a higher moisture barrier, thermal resistance, and high transparency to develop mono material packaging. Also, in 2021, the Japanese printing company, Dai Nippon Printing Co., Ltd. developed a mono-material packaging combining oxygen and water vapor barrier properties that accommodate heat sterilization with high-level recyclability and are suitable for long shelf life of the contents.
The plastic alternative packaging market report table of contents includes:
1. Executive Summary
2. Plastic Alternative Packaging Market Characteristics
3. Plastic Alternative Packaging Market Trends And Strategies
4. Plastic Alternative Packaging market analysis
5. Plastic Alternative Packaging Market Size And Growth
6. Plastic Alternative Packaging Segmentation
7. Plastic Alternative Packaging Regional And Country Analysis
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27.Plastic Alternative Packaging Competitive Landscape And Company Profiles
28. Plastic Alternative Packaging Key Mergers And Acquisitions
29. Plastic Alternative Packaging Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- BASF
- Amcor PLC
- Tetra Pak International SA
- Sealed Air
- Evergreen Packaging
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