Sustainable Packaging Market By Material Type (Paper and Paperboard, Plastics, Aluminum, Others), By Packaging Type (Rigid Packaging, Flexible Packaging), By End Use (Food and Beverage, Personal Care, Healthcare and Pharmaceuticals, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global sustainable packaging market size was valued at $93.6 billion in 2021, and projected to reach $190.6 billion by 2031, with a CAGR of 7.4% from 2022 to 2031.
Hydrogen Sustainable packaging is any type of eco-friendly material used to wrap, store, ship or shelve products. It includes recyclable materials, such as Polyethylene terephthalate (PET) or High Density Polyethylene (HDPE) plastic, cardboard and paper wrappings. These materials, once sorted correctly for recycling, can be shredded, pulped, or melted down and remolded to begin a new as raw material for new packaging or other uses. Other eco-friendly materials, such as industrially compostable Polylactic Acid (PLA) and cellulose-based materials, are used for sustainable packaging because they have similar characteristics to plastic, but will biodegrade in compost. These compostable materials can be molded into food service containers and cutlery or flexible packaging.
Growing consumer awareness of environmentally friendly packaging, stringent restrictions on the use of single-use plastics, and growing environmental concerns brought on by packaging waste dumped in landfills are some of the key factors driving the growth of the market. Other factors driving market expansion include growing R&D capacities, increasing demand for flexible packaging materials and solutions, and growing technical advancements in packaging equipment and technology. Moreover, the market is expanding in food and beverage sector using more packaging made of recyclable and biodegradable materials. In the food service industry, single-use plastic food trays, cups, lids, closures, and straws are being replaced by products made of paper or biodegradable substitutes. However, the fluctuations in the pricing of raw materials hampers the growth of the market.
The rise in raw material prices is due to outbreak of covid-19 pandemic which caused disruption in the supply chain and shortage of the material required for the manufacturing of sustainable packaging products. The market is witnessing growth in different sectors including food & beverage, pharmaceutical industry, healthcare, automobile industry, agriculture and personal care.
The sustainable packaging market is segmented on the basis of material type, packaging type, end-use industry and region. On the basis of material type, the market is divided into paper & paperboard, plastics, aluminum and others. On the basis of packaging type, the market is classified into rigid packaging and flexible packaging. On the basis of end-use industry, the market is categorized into food & beverage, personal care, healthcare and pharmaceuticals and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.
Impact of Covid-19 on Global Sustainable Packaging Market
The COVID-19 pandemic has had a moderate impact on the sustainable packaging market. Due to the strict lockdown, the production of sustainable packaging products were halted. However, the market showed a significant growth after relaxation of lockdown.
The growth of market was mainly due to the consumption of sustainable packaging products in different end-use industries including food & beverage industry, healthcare, cosmetics & personal care, and e-commerce. There is an increase in flexible, rigid plastics, and corrugated packaging. The food packaging industry continued to robust the demand of the sustainable packaging products owing to the increase in awareness regarding the hygiene. Moreover, there was high growth for rigid packaging for e-commerce and grocery deliveries. There was an incline towards the growth of sustainable packaging products in healthcare sector, including flexible blister foils, pumps, closures and rigid plastics. Also, the packaging used in dietary supplements such as vitamins and for essential supplies, such as allergy medication has boosted the market.
Consumers across the globe are going to be increasingly inclined to buy their products through different channels from those they used before the pandemic, leading to a strong acceleration of e-commerce shipments and other home-delivery services. There has been a shift towards online grocery stores in different regions.
For instance, in China, the online sales of fresh food by a large online retailer grew more than 200% during a ten-day period in late January 2020 compared with the same period in 2019. Moreover, UK government and World Health Organization guidelines recommended not touching loose foods unless one intend to buy them. So, DS Smith has innovative mid-term solutions to meet some of these challenges, including corrugated boxes, punnets, trays and latest innovation ECO Bowl which all reduce plastic significantly but still protect the product from damage, food waste or hygiene-related concerns. In this way, there has been a continuous rise in the demand for sustainable packaging products.
Competitive Landscape
The key players operating in the global sustainable packaging market are Amcor plc, Ardagh Group S.A., Ball Corporation, BASF SE, Crown Holdings, Inc., DS Smith, Elopak AS, Emerald Packaging, Mondi, Nampak Ltd., Plastipak Holdings, Inc., Sealed Air, Sgf packaging Co. Ltd, Smurfit Kappa Group PLC, Sonoco Products Company, Tetra Pak and WestRock Company.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the sustainable packaging market analysis from 2021 to 2031 to identify the prevailing sustainable packaging market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the sustainable packaging market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global sustainable packaging market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Material Type
Paper and Paperboard
Plastics
Type
Biodegradable
Bio-based
Aluminum
Others
By Packaging Type
Rigid Packaging
Flexible Packaging
By End Use
Food and Beverage
Personal Care
Healthcare and Pharmaceuticals
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
Spain
UK
Rest Of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest Of Asia-Pacific
LAMEA
Brazil
Argentina
Saudi Arabia
Rest Of LAMEA
Key Market Players
Amcor plc
Ardagh Group S.A.
Ball Corporation
BASF SE
Crown Holdings, Inc.
DS Smith plc
Elopak AS
Emerald Packaging
Mondi plc
Nampak Ltd.
Plastipak Holdings, Inc.
Sealed Air Corporation
SGF Packaging Co., Ltd.
Smurfit Kappa Group PLC
Sonoco Products Company
Tetra Pak
WestRock Company
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