The Sustainable Plastic Packaging Global Market Report 2023 by The Business Research Company, provides sustainable plastic packaging market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Sustainable Plastic Packaging Global Market Report 2023, the market size grew from $98.44 billion in 2022 to $106.45 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The sustainable plastic packaging market size is expected to grow to $143.22 billion in 2027 at a CAGR of 7.7%.
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.
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The sustainable plastic packaging market 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
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. Sustainable Plastic Packaging Market Size And Growth
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26. Africa Sustainable Plastic Packaging Market
27. Sustainable Plastic Packaging Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Sustainable Plastic Packaging Market
29. Sustainable Plastic Packaging Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Amcor Ltd
- Sonoco Products Company
- Huhtamaki OYJ
- WestRock Company
- Smurfit Kappa Group PLC
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