Sustainable Packaging Market 2021: Industry Size, Regions, Emerging Trends, Growth Insights, Development Scenario, Opportunities, and Forecast By 2027

 

Sustainable Packaging Market Analysis, Trends, Size, and Forecast. Sustainable Packaging Market Industry Overview, Market Growth, Market Share, Syndicate Report, and Business Research Reports – US and UK

 

Description

Sustainable Packaging Market: by Material (Paper & Paperboard, Plastic, Metal, and Glass), by Process (Recycled, Reusable, and Degradable), by Function (Active, Molded Pulp, and Alternate Fiber), by Application (Food & Beverage, Healthcare & Pharmaceutical, Chemical, and Others), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2021–2027)

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The sustainable packaging market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region-wise and segment-wise market share/growth analysis. The report's study will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the sustainable packaging industry.

Sustainable Packaging Industry Outlook

The global sustainable packaging market size is USD 285.2 billion in 2020 and is estimated to grow at a CAGR of 4.4% during the forecast period to reach USD 457.2 billion by 2027. The sustainable packaging market is driven by strict laws on sustainability, the growing packaging industry, and changes in consumer preferences towards sustainable and environmentally friendly packaging materials.

Factors affecting the Sustainable Packaging Market over the forecast period:

The rapid growth in the industrial and manufacturing sector in the emerging economies, especially in Asia-Pacific, is due to the continuous rise in foreign direct investment in promoting the manufacturing industry in the respective economies. This, in turn, is raising the demand for sustainable packaging for safety concerns, offering growth to the market.

The market expansion is accounted for by broad applications across various industry verticals, including retail trade, healthcare, and food & beverages. Increasing awareness of the harmful environmental impact of plastics, such as soil pollution and loss of soil fertility, has increased the adoption of sustainable packaging on the market.

The cost of recycling, however, acts as a market restraint. Growth in the economically improving Asia-Pacific region offers the opportunity to grow even further in the sustainable packaging market.

The challenge faced by sustainable packaging market prices is to overcome the issues caused by fluctuations in raw material prices. This has negatively impacted the sales of sustainable packaging in the industrial sector across the globe significantly.

Impact of COVID-19 on Sustainable Packaging Market:

The outbreak of COVID-19 resulted in a rapid increase in the demand for sustainable packaging across several sectors, primarily the healthcare and industrial sectors. The industrial sector, including manufacturing, oil & gas, and food & beverages, has increased the use of Sustainable Packaging to follow the safety guidelines issued by respective governments, intending to contain the virus's spread. This is expected to create many opportunities for the new and small-scale players to mark their presence in the regional market and offer low-cost prices and high-quality products to the end-users. Therefore, with the outbreak of the COVID-19, there is a significant surge in demand for sustainable packaging that has been seen across the globe, which has positively impacted the sustainable packaging market value in 2020 and subsequent years.

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Scope of the Report

The report outlines the study of the global sustainable packaging market based on material, process, function, and application.

Based on the material, the sustainable packaging market has been segmented into –into –

·     Paper & Paperboard

·     Plastic

·     Metal

·     Glass

Based on the process, the sustainable packaging market has been segmented into –

·     Recycled

·     Reusable

·     Degradable

Based on the function, the sustainable packaging market has been segmented into –

·     Active

·     Molded Pulp

·     Alternate Fiber

Based on the application, the sustainable packaging market has been segmented into –

·     Food & Beverage

·     Healthcare & Pharmaceutical

·     Chemical

·     Others

Sustainable Packaging Market: Regional Outlook

The global sustainable packaging market has been segmented into five geographical regions: North America, Asia Pacific, South America, Europe, the Middle East, and Africa. In 2019, Asia Pacific held the largest share in the global sustainable packaging market, followed by Europe and North America.

Moreover, North America is expected to project the highest CAGR in the global market over the forecast period.

Key Global Sustainable Packaging Market Competitors Includes –

The global sustainable packaging market is highly fragmented, with a large number of small players across the globe. The key sustainable packaging players operating in the global market include –

·     Amcor Limited

·     Bemis Company, Inc.

·     Tetra Laval International 

·     Mondi Plc

·     West Rock Company

·     BASF SE

·     Sonoco Products Company

·     Smurfit Kappa Group PLC

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