Sustainable Packaging Market Research Report - Global Forecast To 2027

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 2027

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

Sustainable Packaging Market Overview


Sustainable Packaging Market is projected to reach USD 470.3 Billion by 2027 from an estimated USD 305.31 billion in 2020, at a CAGR of 10.3% from 2021 to 2027.


Sustainable packaging has gained market with the introduction of green and eco-friendly packaging solutions to metal cans, plastic bottles, corrugated cardboard boxes, etc. It is known to the commonwealth that all the specified materials have high production costs and not easily disposable. Plastic is known to be one of the most non-degradable substances used in the packaging industry. To prevent the environmental issue and the rising concern about global warming industrial trend of packaging is constantly shifting towards sustainable packaging. Industries like personal care, food packaging, and beverage packaging have shown great interest in eco-friendly, green, and sustainable packaging materials seeing customers shift of interest to an eco-friendly lifestyle.


With low energy consumption and degradable materials being used these days in the packaging industry, many investors have shown interest in Sustainable packaging methods. The sustainable packaging industry makes use of recyclable, energy-efficient, and reusable materials which are environmentally sensitive.


Competitive Landscape


With a larger number of suppliers, manufactures are hurdling between the different brands available in the market. The availability of bulk raw materials, easy buyers, generic product nature, etc. has developed a healthy competition in the sustainable packing market. Conventional packaging methods pose a threat to the sustainable packaging market seeing as the cost-efficient material. A competition of product quality, brand loyalty, and the price of packaging is ruling the industry. The industrial experts share a detailed analysis of the joint ventures, partnership, collaboration, product launches, acquisitions, expansion, and investments in the global Market.


The prominent market players of the global sustainable packaging market are 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, and others.


COVID-19 Analysis


The effect of the COVID-19 virus was immense on the world socially, politically, and economically. The virus has taken a toll on human life to a great extent. Country-wise and state-wise lockdowns were imposed. This helped to contain the spread of the virus. Travel, transport, and other industries were put on stop or were allowed only under special circumstances. Sustainable packaging was made essential during this period to maintain the decorum of the packaging industry. Although with the threat of virus Sustainable packaging market has a decline at industrial level. With limited stock availability, the packaging industry has seen a downward stream but is expected to regain its structure in upcoming years seeing the benefits of sustainable packaging.


Market Dynamics


Drivers


Introduction of biodegradable plastics which are lightweight, emits lower carbon, and consume less natural resources, These bioplastics can be created using renewable resources to overcome the non-biodegradable oil-based polymer which is difficult to reuse and recycle due to the threat of contamination.



  • Reduction in the greenhouse effect because of less reliance on the usage of fossil fuels to produce biodegradable products.

  • Usage of methane gas as a source of renewable energy released during the combustion of areas filled with organic garden waste.

  • Industries shift of focus on materials with high resistance to moisture, heat, and friction which can be recycled easily.

  • Implementation of government rules and regulations to propel the use of sustainable packaging seeing to the rising concern on pollution and consumer's awareness about it.

  • Introduction of small-scale packaging for daily use, office purposes, small portions, and others.


Challenges



  • Fluctuating prices of the raw materials used in the making of by-products.

  • Higher the cost of production depending on the material type like the packaging of liquid biofuels, bio-based monomers, etc.

  • Inefficiency in getting MSW recycled products, and lack of storage spaces.


Technology Analysis


Sustainable packaging has gained market with the introduction of green and eco-friendly packaging solutions to metal cans, plastic bottles, corrugated cardboard boxes, etc. Plastic is known to be one of the most non-degradable substances used in the packaging industry. To prevent the environmental issue and the rising concern about global warming industrial trend of packaging is constantly shifting towards sustainable packaging. Industries like personal care, food packaging, and beverage packaging have shown great interest in eco-friendly, green, and sustainable packaging materials seeing customers shift of interest to an eco-friendly lifestyle. The factors that led to the growth of sustainable packaging are the introduction of biodegradable plastics which are lightweight, emits lower carbon, and consume less natural resources, These bioplastics can be created using renewable resources to overcome the non-biodegradable oil-based polymer which is difficult to reuse and recycle due to the threat of contamination, reduction in the greenhouse effect because of less reliance on the usage of fossil fuels to produce biodegradable products, and usage of methane gas as a source of renewable energy released during the combustion of areas filled with organic garden waste. With the industry's shift of focus on materials with high resistance to moisture, heat, and friction which can be recycled easily the governments around the world have posted rules and regulations to propel the use of sustainable packaging. Many small-scale packaging companies have gained focus due to their by-product. The only factors that hamper the growth of the sustainable packaging market are fluctuating prices of the raw materials used in the making of by-products, higher cost of production depending on the material type, and lack of storage spaces.


Study Objectives


The study objectives of the Sustainable Packaging Market are:



  • A detailed study on the technical analysis and regional analysis.

  • Meaningful insights on the market dynamics.

  • Market segmentation based on different scenarios.

  • Recent accomplishments and prominent players of the market.

  • Market share, market value, market volume, and market revenue of the forecast period.


Segment Overview


By Application


The Market is segmented based on application as healthcare, food, beverage, personal care, and others.


By Product


The Market is segmented based on products as reusable, recycled, and degradable.


By Material


The Market is segmented based on material as bioplastic, metal, glass, paper, and others.


By Packaging Material


The Market is segmented based on packaging material as Plastic Containers, tubes, Reusable Packaging, bags, drums, pouches, corrugated boxes, Degradable Packaging, and others.


Regional Analysis


The Sustainable Packaging Market is segmented based on region as North America (U.S., Canada, Mexico), Europe (UK, France, Italy, Germany, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and Rest of Asia-Pacific), and LAMEA (Africa, Latin America, Middle East).



  • Europe holds the market's principal share place because of the self-indulgent and convenient goods which are promoted using online media. The European region is expected to register high CAGR during the forecast period.

  • Asia-Pacific is observed to be the fastest-growing region in the sustainable packaging market. China is the most important part which has led to this growth because of recyclable and reusable material in the area. New technologies, eco-friendly solutions, and support from the government have shaped the future of sustainable packaging in the Asia-Pacific region. India's Swach Bharat has led the drive in the country implicating the growth of the market.

  • People in North America are concerned about the environmental issues and the threat of global warming thus, marketing the growth of the market in the region.

  • The volume of sales, strong market, preserved food market, and other factors have caused the sustainable packaging market to rise throughout the world.


Recent Developments



  • In January 2020, Nestle shifted to using food-grade recycled plastics from virgin plastics by investing an amount of 2 billion US dollars to become accustomed to the use of sustainable solutions.

  • In October 2019, CCEP (Coca-Cola European Partners) partnered with Coca-Cola Western Europe to promote RRR i.e. Recycle, Reuse, and reduce scheme in terms of sustainable packaging. In this scheme, Coca-Cola Company collected all the bottles that people would sell and recycle them to be reused again.


Report Overview


The report overview of the Sustainable Packaging Market is:



  • Drivers that lead to market growth in terms of share, value, and volume.

  • The segmentation of the market is based on different categories.

  • Deep-sight regional analysis and the market competition.

  • Challenges faced by the industry seeing to conventional packaging methods which are cost-effective.



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: USD 470.3 billion
  CAGR   10.3% CAGR (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  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


  • Frequently Asked Questions (FAQ) :


    One of the major drivers of the market is the demand for bio plastic packaging. Bio plastic packaging products are considered more sustainable than conventional plastic packaging products because they consume less energy and natural resources, generate lower carbon emissions, and are lightweight in nature. Moreover, growing consumer awareness and government regulations, are anticipated to propel the industry growth over the forecast period.

    Global sustainable packaging market is anticipated to flourish at ~10.3% CAGR, over the forecast period.

    The Asia Pacific market is anticipated to be the fastest growing market over the forecast period, owing to the presence of the large consumer base and the increasing focus on the adoption of eco-friendly solutions, by the government. Moreover, growing demand for reusable and recyclable materials in developing economies, such as China and India, are expected to boost the industry growth over the forecast period.

    High cost of raw materials used for making sustainable packaging such as bio-based monomers, liquid biofuels is expected to hinder the growth of the sustainable packaging market globally.

    The key players of global sustainable packaging market includes Amcor Limited (Australia), Silgan Holdings Inc.(U.S.), Bemis Company Inc.(U.S.), Sonoco Products Company (U.S.), Mondi plc.( Austria), The Dow Chemical Company(U.S.), Stora Enso Oyj(Finland), BASF SE (Germany), Genpak, LLC(North Carolina), DS Smith Plc.( U.K.), and Smurfit Kappa Group Plc.(Dublin) and others.