Sustainable Packaging Market, By Process (Reusable Packaging, Degradable Packaging, Recycled Packaging), By Material Type (Glass, Plastic, Metal, Paper), By End User Industry (Pharmaceutical and Healthcare, Cosmetics and Personal Care, Food and Beverage, Other End user Industries), and By Geography (North America, Latin America, Europe, Asia-Pacific, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Sustainability is becoming increasingly important, and companies need to know the impact of their products. Sustainable packaging has several benefits for the environment. Its goal is to meet the needs of the present without compromising the ability of future generations to meet their own needs. Its common forms include recycled, compostable, and biodegradable packaging. It may also be returnable or reusable. It has a positive impact on the environment and helps businesses increase their bottom line.
Market Dynamics:
Growing environmental concerns and increasing bans on plastic usage are prime factors driving growth of the sustainable packaging market. Moreover, consumers are shopping smarter, and key players are building better to assure the protection of the environment. According to a recent Capgemini report, Sustainability and Changing Consumer Behavior, 79% of consumers change their buying preferences due to social responsibility, inclusiveness, or environmental effect. Increasing focus of key players on downsizing the packaging in order to cut down the cost of production is further projected to augment the market growth.
On the other hand, high cost of raw materials is expected to restrict the market growth.
Key features of the study:
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