South Korea’s Green Revolution: Sustainable Packaging Solutions Take Center Stage in the Battle Against Packaging Waste
Driven by a surge in e-commerce, the popularity of HMR (Home Meal Replacement) products, and an increase in single-person households, the demand for sustainable packaging in South Korea is witnessing unprecedented growth. The government’s proactive approach, including the amendment of recycling laws, has led to a paradigm shift in the packaging industry. The new regulations mandate packaging materials to be graded and evaluated based on their recyclability, fostering a wave of innovation in the packaging sector.
Sustainable Packaging Market Overview:
The research report on the Sustainable Packaging Market offers a comprehensive analysis essential for making well-informed decisions within the industry and formulating strategic growth strategies. Irrespective of production methods or cost structures, the Sustainable Packaging market report delivers a comprehensive grasp of advanced strategies and approaches. It furnishes an intricate analysis of the market dynamics, influenced by key players within the Sustainable Packaging industry.
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Sustainable Packaging Market Report Scope and Research Methodology:
The primary objective of the Sustainable Packaging Market report is to analyze both current and prospective market scenarios. By establishing distinct segments, you can gain insights into growth factors that might be consistent throughout the industry, while also charting your own course to reveal differences among the principal application areas within your target market. The report delves extensively into the Sustainable Packaging business landscape, intricately dividing it into multiple regions. The evaluation encompasses North America, South America, Europe, Asia Pacific (APAC), Africa, and the Middle East, dissected by region and country. Regional markets are meticulously explored within the Sustainable Packaging market report, unearthing regional trends, limitations, and potential opportunities. The report also encompasses key players within the Sustainable Packaging industry, ranging from market leaders to new entrants and followers.
Sustainable Packaging Market Regional Insights:
The report delves into the Sustainable Packaging business in great depth, segmenting it into numerous locations. North America, South America, Europe, Asia Pacific (APAC), Africa, and the Middle East are evaluated by region and country in the study. In the Sustainable Packaging market report, regional markets are thoroughly investigated in order to uncover regional market trends, restrictions, and possible prospects.
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Sustainable Packaging Market Segmentation:
by Material Type
Paper and Paperboard
Plastics
Biodegradable
Bio-based
Aluminum
Others
In 2023, the paper and paperboard segment had the highest revenue share of 21.2%, determined by Material Type. An encouraging trend that indicates a rising understanding of the need for sustainable packaging solutions is the increasing demand for sustainable paper and paperboard materials for the import and export of packaging products. It is anticipated to increase in the upcoming years as a move towards a more sustainable future. Paper and paperboard are sustainable packing materials that Amazon has promised to use for its shipments. The company has implemented several eco-friendly packaging programmes, such as switching to paper-based cushioning materials in place of plastic ones and employing corrugated boxes with a high percentage of recycled content.
by Packaging Type
Rigid Packaging
Flexible Packaging
Regarding Packaging Type, the segment with rigid packaging held a notable 18.2% market share in 2023 and is anticipated to continue to do so during the projected period. A lot of businesses are making rigid packaging goods with sustainable materials.
Coca-Cola has put in place a number of sustainable packaging measures, such as the use of plant-based polymers and recycled content, and has pledged to making all of its packaging 100% recyclable by 2025. For its Dasani water brand, the business has unveiled a sustainable plastic container composed entirely of recycled PET plastic. For rigid packaging applications, this is anticipated to accelerate the growth of the Sustainable Packaging market.
by End User
Pharmaceutical and Healthcare
Cosmetics and Personal Care
Food and Beverage
Other End Users
The food and beverage segment held a significant market share of approximately 56.3% in 2023, and it is anticipated to continue growing over the forecast period, according to the End User. Many businesses are employing recycled plastics in their packaging, either by developing new packaging solutions that are composed completely of recycled materials or by adding recycled content to their current packaging. The food and beverage industry is also seeing an increase in the use of reusable packaging. Reusable packaging options, such refilling receptacles or packaging that can be sent back to the manufacturer for further use, are being investigated by certain businesses.
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Sustainable Packaging Market Key Players are:
1. Sonoco Products Company
2. Amcor pie
3. Gerresheimer AG
4. Smurfit Kappa
5. Ball Corporation
6. BASF SE
7. Ardagh Group S.A.
8. Crown Holding,Inc.
9. WestRock Company
10. DS Smith
11. Mondi
12. International Paper
13. Berry Global
14. Printpack
15. Sealed Air
16. Stora Enso Oyj
17. Georgia-Pacific
18. Huhtamaki
19. Genpak,LLC
20. Tetra Pak InternationalS.A.
21. Billerud
22. Albea S.A.
23. HCP Packaging
Key Questions answered in the Sustainable Packaging Market Report are:
- What was the Sustainable Packaging Market size in 2023?
- What will be the CAGR of the Sustainable Packaging market during the forecast period?
- Which region held the largest Sustainable Packaging market share in 2023?
- What are the opportunities for the Sustainable Packaging Market?
- What factors are hampering the Sustainable Packaging market growth?
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Key Offerings:
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis of segments and sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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