Sustainable Packaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Sustainable Packaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Sustainable Packaging Market

The Sustainable Packaging market size was valued at USD 310 billion in 2023, and the market is now projected to grow from USD 329 billion in 2024 to USD 518 billion by 2032, exhibiting a CAGR of 6.70% during the forecast period of 2024-2032.

In the havoc of the pandemic several packaging industries were led to shut down or halt in the production yet, the e-commerce, pharmaceutical, and food & refreshment businesses seen a significant rise in deals amid the widespread, which boosted the request for green packaging arrangements. With a shoot up in packaging waste due to the expanded online shopping patterns amid the widespread, numerous businesses investigated economical and eco-friendly packaging arrangements that impelled the sustainable packaging market growth.

The prevailing utilization of plant-based materials for bundling has picked up gigantic footing within the individual care & makeup industry owing to its recyclable, reusable, and degradable properties. The rising request for eco-friendly bundling arrangements from these businesses is boosting the development of market. In expansion, a few beauty care products and individual care items brands are requesting such eco-friendly packaging arrangements, which, in turn, develops as a basic drift.

Request for environmentally friendly and compostable packaging arrangements is expanding due to consumers' rising mindfulness related to environmental issues. Compostable packaging arrangements are basic as they offer assistance reduce an expansive portion of plastic contamination by driving it absent from conduits and landfills. It moreover diminishes the nursery gas outflows from organics. Companies are trying to find ways to cut off their carbon impression and satisfy the expanding request for economical item bundling, extending from eco-friendly and biodegradable bundling arrangements to renewable materials.

Comprehensive Analysis of Sustainable Packaging Market

The sustainable packaging market structure on the material analysis is divided into metal, glass, plastic, paper and paperboard. Above all the material division paper and paperboard is characterized as the most prominent. The product type analysis in the sustainable packaging market is partitioned into mailers, boxes and cartons, films and wraps, bottles and cans, bags and pouches. The most leading portion of the product type is termed as the bags and pouches. On the reference of application segment, the market is fragmented into pharmaceuticals, e-commerce, personal care and cosmetics, consumer goods, food and beverages. The most vital notion for human food and beverages to lead the application segment.

The territory of North America stands out to be the most overwhelming within the sustainable packaging market share with a valuation of over USD 100.75 billion. The developing government directions, changing customer inclinations, nearness of top players and food packaging producers within the U.S., and supportability activities are the major variables affecting the advertise development within the North American region. The region's well-established paper & paperboard reusing framework moreover contributes to the market development.

The market pool is comprised of certain major player as: Ball Corporation (U.S.), Amcor Plc (Switzerland), Mondi Group (U.K.), Berry Global (U.S.), Westrock Company (U.S.), DS Smith (U.K.), Sonoco Products Company (U.S.), Crown Holdings Inc. (U.S.), Sealed Air Corporation (U.S.), International Paper (U.S.), Tetra Pak International S.A. (Switzerland) and many more. The worldwide sustainable packaging market is profoundly divided and competitive with the above major operating players. Many critical players are dominating the market by advertising inventive packaging solutions within the bundling industry. These major players continually centering on growing their client base over districts by improving their existing item extend.

In August 2023, Leading packaging manufacturer Sonoco Products Company has declared the launch of new sustainable packaging solutions with two EnviroFlex Paper Pre-qualifications, especially for the How2Recycle® Labeling range.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2017-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2017-2021

Growth Rate CAGR of 6.70% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By Material, Product Type, Application, and Region

Segmentation By Material

Paper & Paperboard

Glass

Plastic

Metal

Others

By Product Type

Boxes & Cartons

Bags & Pouches

Bottles & Cans

Films & Wraps

Trays

Mailers

Others

By Application

Food & Beverages

Personal Care & Cosmetics

Pharmaceuticals

Consumer Goods

E-commerce

Others

By Region

North America (By Material, Product Type, Application, and Country)

U.S. (By Material)

Canada (By Material)

Europe (By Material, Product Type, Application, and Country)

Germany (By Material)

UK (By Material)

France (By Material)

Italy (By Material)

Spain (By Material)

Russia (By Material)

Poland (By Material)

Romania (By Material)

Rest of Europe (By Material)

Asia Pacific (By Material, Product Type, Application, and Country)

China (By Material)

India (By Material)

Japan (By Material)

Australia (By Material)

South Korea (By Material)

Southeast Asia (By Material)

Rest of Asia Pacific (By Material)

Latin America (By Material, Product Type, Application, and Country)

Brazil (By Material)

Mexico (By Material)

Argentina (By Material)

Rest of Latin America (By Material)

Middle East & Africa (By Material, Product Type, Application, and Country)

Saudi Arabia (By Material)

UAE (By Material)

Oman (By Material)

South Africa (By Material)

Rest of the Middle East & Africa (By Material)


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