The Sustainable Plastic Packaging Global Market Report 2024 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 Sustainable Plastic Packaging Global Market Report 2024, The sustainable plastic packaging market size has grown strongly in recent years. It will grow from $107.36 billion in 2023 to $116.35 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to environmental awareness, regulatory pressures, consumer demand, corporate sustainability goals, cost efficiency.
The sustainable plastic packaging market size is expected to see strong growth in the next few years. It will grow to $166.6 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to e-commerce growth, investment in recycling infrastructure, consumer education, sustainable packaging innovations, innovation in sustainable materials.. Major trends in the forecast period include biodegradable plastics, recyclable packaging, plastic reduction initiatives, innovative materials, smart packaging..
The increase in adoption of sustainable plastic packaging materials from different industries will propel the growth of the sustainable plastic packaging market during the forecast period. Various industries are looking at and promoting sustainable plastic for their packaging solutions because they’re light, inexpensive and are recyclable or reusable. For instance, Unilever, British multinational consumer goods company reduced its plastic from 711,000 tons in 2018 to 599,000 tons in 2021 by around 16%. This high rate of reduction in plastic materials is creating a demand for the adoption of sustainable packaging thereby driving the growth of the sustainable plastic packaging market.
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The sustainable plastic packaging market covered in this report is segmented –
1) By Packaging Type: Rigid, Flexible, Industrial
2) By Packaging Format: Primary Packaging, Secondary Packaging, Tertiary Packaging
3) By Process: Recyclable, Reusable, Biodegradable
4) By End-Use Sector: Food And Beverage, Personal Care, Healthcare, Other End-Use Sectors
Top Major Players
Amcor Ltd.
Sonoco Products Company
Huhtamaki OYJ
WestRock Company
Smurfit Kappa Group PLC
The increase in use of biodegradable plastic are shaping the sustainable plastic packaging market. Major companies operating in the sustainable plastic packaging market are focused on adopting biodegradable plastic to package their products due to their beneficial traits like reduction in carbon emission, eco-friendly disposable solution and more. In April 2021, Paptic Ltd., a Finland based packaging company launched a new sustainable packaging material grade for carrier bags and e-commerce mailers. Paptic has developed a new 100gsm packaging material grade that is both renewable and recyclable, as well as having unique touch and feel characteristics. It’s a special grade designed specifically for carrier bags and e-commerce mailers. Wood fibers from 100% sustainably managed woods are the primary raw source. To optimize brand exposure and reusability, the new grade delivers great printability and durability.
The sustainable plastic packaging market report table of contents includes:
1. Executive Summary
2. Sustainable Plastic Packaging Market Characteristics
3. Sustainable Plastic Packaging Market Trends And Strategies
4. Sustainable Plastic Packaging Market – Macro Economic Scenario
5. Global Sustainable Plastic Packaging Market Size and Growth
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31. Global Sustainable Plastic Packaging Market Competitive Benchmarking
32. Global Sustainable Plastic Packaging Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Sustainable Plastic Packaging Market
34. Sustainable Plastic Packaging Market Future Outlook and Potential Analysis
35. Appendix
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