Sustainable Packaging Market Research Report - Global Forecast To 2030

Sustainable Packaging Market, By Packaging Type (Tubes, Bags & Pouches, Corrugated Box and others), By Material (Paper & Paperboard, Glass, Metal, Plastic), By Process (Degradable Packaging, Recycled Packaging, Reusable Packaging), By Application (Personal Care, food & Beverages, Pharmaceuticals and others) and Region - Forecast To 2030

ID: MRFR/PNT/3809-HCR | February 2021 | Region: Global | 111 pages

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Sustainable Packaging Market Overview



Sustainable Packaging Market is projected to be worth USD 631.10 Billion by 2030, registering a CAGR of 10.3% during the forecast period (2022 - 2030), The market was valued at USD 336.76 billion in 2021.



The packaging industry is developing owing to rapid development in the e-commerce sector and significant industries. The packaging offers protection and brand value to the product. Therefore the industries are using the packaging intensively. The use and throw packaging are creating a lot of distress to the environment. Therefore the manufacturers are developing sustainable packaging that doesn’t harm the environment and thereby increasing the value of the product. The increasing awareness regarding the impacts created on the environment is presenting a lucrative opportunity for the overall growth of the sustainable packaging industry.


 


The established manufacturers are downgrading the packaging materials and making them thinner and lighter to significantly reduce wastage. Thereby complying with the regulations imposed on the packaging industry.


 


One of the leading suppliers to the cosmetic industry, named WWP, has introduced a novel technology in the sustainable packaging industry. The tubes manufactured in this manufacturing plant are from the sugarcane bio-resin or natural renewable resources. This determined decision was active in this manufacturing plant from January 2020. Such initiatives from the packaging manufacturers are propelling the overall growth of the sustainable packaging industry. 


 


COVID 19 Analysis:


 


The COVID 19 pandemic has created a huge economic shock across the industrial sector and manufacturing industries. The reduced labor and inaccessibility of the raw materials for the manufacturing process have created a huge impact on several industrial sectors. However the demand for the food and beverages, pharmaceutical industry were increasing and were promoting the overall growth of the sustainable packaging industry. 


 


The increasing disposal of plastic packaging into the environment owing to the increasing demand and usage of cling wraps that have the potential to spread the COVID 19 were considered as the major factors that promoted the sustainable packaging market growth.


 


Market dynamics:


 


Market drivers:


 


Modern-day consumers are considering several factors while purchasing a product and the value associated with the product. The issues like sustainability, environmental impacts, products costs, and other factors are considered by the consumers. Such awareness among the consumers is fuelling the overall growth of the sustainable packaging industry.


 


The leading market players are involved and making initiatives to support the sustainable packaging market growth. For instance, Nestle has announced their investment of over USD 2 billion to convert virgin plastics to food grade and recyclable packaging. The investment has been highly utilized for the development of sustainable packaging market growth.


 


Market opportunities:


 


A recent study conducted by the Ocean Conservancy has stated that over 8 million metric tons of plastics are dumped into the ocean and over 150 million metric tons of non-degradable waste are in the ocean which has the potential to affect the marine ecosystem. Such studies and reports are impacting the government organizations to revise the regulations and mandate sustainable packaging solutions. 


 


The government is also creating awareness of sustainable packaging. Moreover, the customers are also valuing the products with sustainable packaging more. Such factors are considered as the major opportunities for sustainable packaging market growth during the forecast period.



Market restraints:


 


The lack of recycling options and facilities across the developing regions is hindering the sustainable packaging market growth. The availability of alternative packaging solutions that are comparatively cheaper than sustainable packaging is the major restraint of sustainable packaging market growth.


 


The fluctuation in the price of the raw materials is considered as the major restraint of the sustainable packaging industry.


 


Market challenges:


 


Lack of accessibility to recycled products and the inefficiency in storing sustainable packaging for future usage are some of the key challenges in the sustainable packaging market growth.


 


Higher production costs and the higher installation costs that change according to the material used for the packaging affect the overall growth of the sustainable packaging industry.


 


Cumulative growth analysis:


The market value of the sustainable packaging industry was at USD 336.76 billion in 2021 and it is expected to surpass the market value of over USD 631.10 Billion by 2030, registering a CAGR of 10.3% during the forecast period (2022 - 2030) The market estimate by the experts is due to the increasing growth of the e-commerce sector that propels the manufacturers to utilize the packaging intensively. The dumping of packaging into the environment causes significant distress on the environmental stability. Such factors are expected to propel the overall growth of the sustainable packaging industry.


 


The harmful effects of plastics and the increasing awareness regarding the usage of plastics in the food and medical industry have resulted in increased sustainable packaging market growth in recent years. Similarly, the global warming and other ecosystem instability issues caused by the non-biodegradable packaging solutions are impacting global health. Therefore the governmental organizations are promoting sustainable packaging themselves.


 


Value chain analysis:


 


The plastics are easily available and are an economical option for the packaging of several products including the food industry, their capability to keep them fresh and increase the shelf life were propelling the usage of plastics in the packaging industry. As they create an environmental disturbance, the manufacturers have shifted from virgin plastics to bio-based plastics which still offer aesthetical value while adding sustainability to the packaging. 


 


The intensive usage of bioplastics across the packaging manufacturers that helps in reducing the plastic waste getting dumped into the environment is paving way for the growth of the sustainable packaging industry. Countries like Europe are also encouraging the packaging industries to utilize bio-plastics instead of oil-based polymers which are difficult to recycle.


 


Moreover, the increasing demand for the major end-user such as healthcare, food and beverages, personal care, and others are fuelling the overall growth of the sustainable packaging industry. The market players, owing to the favorable economic support are bringing in novel innovations in the industry. For instance, in the year 2020, one of the leading packaging organizations, YPACK has developed sustainable packaging that is designed for the food industry, which is made out of sustainable biopolymer and PHBV that were the by-products of the cheese manufacturing industry. Such innovations in the sustainable packaging industry are promoting the sustainable packaging industry.


 


Segment overview:


 


Based on Type of Packaging:


 



  • Recycled Content Packaging

  • Paper

  • Metal

  • Plastic

  • Glass

  • Reusable Packaging

  • Drums

  • Plastic containers

  • Bulk containers

  • Others

  • Degradable packaging


 


Based on the end-user industry:



  • Food

  • Beverage

  • Pharmaceutical

  • Personal Care

  • Other 


 


Regional analysis:


 


The Asia-pacific region is expected to witness higher market growth in the sustainable packaging industry, owing to the proliferation of e-commerce across the region. The initiatives from the e-commerce sectors in the Asia-pacific region are also propelling the sustainable packaging market value in recent years. For instance, a leading e-commerce organization named SF express which is based in China was determined to reuse the packaging materials for overtimes and support the growth of the sustainable packaging market growth. The e-commerce sector has started to adopt packaging cartons from the urban regions and 1st tier and 2nd tier cities.


 


Also, the Chinese government has updated the guidelines issued by the eight departments including the state post bureau, and implemented national standards to reduce the waste created due to the packaging industry. Such factors are propelling the overall growth of the sustainable packaging industry.


 


Competitive landscape:


 



  • Amcor Limited

  • Ardagh Group SA

  • Ball Corporation

  • Crown Holdings Incorporated

  • DS Smith PLC

  • Elopak AS

  • Emerald Packaging

  • Mondi Group

  • Nampak Ltd

  • PlastiPak Holdings Inc.

  • Sealed Air Corporation

  • Sonoco Products Company

  • Sgf packaging Co. Ltd

  • Tetra Pak International SA


 


Recent developments:


 


In the year 2021, one of the leading market players, Amore has introduced the 4R strategy in their manufacturing plant, which means Recycling, Reducing petroleum-based plastic, and re-usage of plastic containers, reserving empty ones. This strategy has been followed since then and thereby fuelling the sustainable packaging market growth.


 


In the year 2021, one of the leading market players, Nestle has joined hands with Greenback recycling technologies that have introduced chemical recycling plants into the industry and promoted the loop to recycle food-grade plastics. 


 


Report overview:


 


This report has covered:



  • Market overview

  • COVID 19 Analysis

  • Market dynamics

  • Cumulative growth analysis

  • Value chain analysis

  • Segment overview

  • Regional analysis

  • Competitive landscape

  • Recent developments


 


Segmentation Table:


 


Based on Type of Packaging:


 



  • Recycled Content Packaging

  • Paper

  • Metal

  • Plastic

  • Glass

  • Reusable Packaging

  • Drums

  • Plastic containers

  • Bulk containers

  • Others

  • Degradable packaging


 


Based on the end-user industry:



  • Food

  • Beverage

  • Pharmaceutical

  • Personal Care

  • Other 



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: USD 631.10 Billion
  CAGR   10.3% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Packaging Type, Material, Process, and Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Amcor Limited (Australia), Bemis Company Inc.( U.S.), Mondi plc. (Austria), Stora Enso Oyj(Finland), Genpak, DS Smith Plc.( U.K.), Smurfit Kappa Group Plc. (Dublin), Silgan Holdings Inc.( U.S.), Sonoco Products Company (U.S.), The Dow Chemical Company(U.S.), BASF SE (Germany), LLC(North Carolina), E. I. DuPont de Nemours and Company, Sealed Air Corporation, Mondi Limited, TetraPak International S.A., PlastiPak Holdings Inc., Ardagh Group Co., ELOPAK AS, Uflex limited, Catalyst Paper, Phoenix Technologies, Clorox Company, Innova Films Ltd, TetraLaval, Ball Corporation
  Key Market Opportunities

  • Fluctuating prices of the raw materials
  • New product launches and R&D amongst major key players
  •   Key Market Drivers

  • Reduction in the greenhouse effect
  • Usage of methane gas as a source of renewable energy


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    Frequently Asked Questions (FAQ) :

    • Food • Beverage • Pharmaceutical • Personal Care • Other

    • Elopak AS • Emerald Packaging • Mondi Group • Nampak Ltd • PlastiPak Holdings Inc. • Sealed Air Corporation • Sonoco Products Company • Sgf packaging Co. Ltd

    The market value of the sustainable packaging industry was at USD 211.3 billion in the year 2020 and it is expected to surpass the market value of over USD 327.10 billion by the year 2026 while registering a CAGR of 7.55% during the forecast period.