Sustainable Packaging Takes Center Stage in Global Markets: A Step Towards a Greener Future
Monday, November 18, 2024
Regulatory Pressure and Corporate Commitments Propel Shift Towards Recycled, Biodegradable, and Reusable Packaging Solutions
BOSTON, Nov. 13, 2024 /PRNewswire/ -- "According to the latest study from BCC Research "Sustainable Packaging: Global Markets" is expected to reach $391.1 billion by 2029, at a compound annual growth rate (CAGR) of 6.0% from 2024 through 2029."
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The report analyzes the global sustainable packaging market, segmenting it by material, process, and end user. The materials segment includes paper, plastic, metal, and others, which include glass, wood, and textiles. Paper-based packaging is sub segmented into corrugated/cardboard, boxboard/carton board, and flexible paper, while plastic-based packaging is sub segmented into flexible and rigid types. In terms of process, the market is segmented into recycled, reusable, and biodegradable/bio-based packaging. End users include the food and beverage, industrial and chemical, healthcare, and personal and home care sectors. The analysis spans global and regional levels, with market estimates and forecasts provided in revenue terms from 2024 through 2029, using 2023 as the base year.
This report is timely and relevant as plastic packaging, while convenient, is increasingly recognized as a major environmental threat, contributing to waste and damage to the ecosystem. In response, the food & beverage, healthcare, and personal care industries are transitioning toward more sustainable packaging solutions. Growing consumer awareness, environmental concerns, and regulatory pressures are driving the demand for eco-friendly alternatives. Moreover, advances in recycling technology have improved the efficiency of recycling processes, allowing for wider use of recycled and bio-based materials in packaging. With so many companies adopting innovative and sustainable packaging, this report provides critical insights into the evolving market dynamics and emerging opportunities in this sector.
Please click here for more details on the report "The Global Market for Sustainable Packaging."
The following factors are driving the global market for sustainable packaging:
Increased Recyclability of Paper and Paper Packaging: Environmental concerns and regulatory pressure are driving the development of more recyclable paper and paper packaging. Companies are creating innovative packaging that is easily recyclable, reducing waste and the need for new materials. This not only helps to conserve natural resources but also reduces the impact of packaging on the environment.
Demand for Recycled Material-Based Packaging: Consumers and businesses are increasingly demanding packaging made from recycled materials, fueled by growing awareness of environmental issues and a desire to support sustainable practices. The use of recycled materials helps reduce the amount of waste sent to landfills and reduces the carbon footprint associated with the production of new materials.
Reusable Packaging Achieves Efficiency and Environmental Goals: For companies striving to meet efficiency and environmental goals, reusable packaging can be used multiple times, reducing the need for single-use packaging, and reducing waste. This method not only supports sustainability but also saves costs over time, as demand for new packaging has decreased.
Request a sample copy of the global market for sustainable packaging report.
Report Synopsis
Report Metrics
Details
Base year considered 2023
Forecast period considered
2024-2029
Base year market size
$278.1 billion
Market size forecast
$391.1 billion
Growth rate
CAGR of 6.0% for the forecast period of 2024-2029
Segments covered
Material, Process, End User
Regions covered North America, Europe, Asia-Pacific, Rest of the World (including South America, and the
Middle East and Africa)
Countries covered
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, Japan, China, India
Market Drivers
-- Increased recyclability of paper and paper packaging
-- Demand for recycled material-based packaging
-- Reusable Packaging to achieving efficiency and environmental goals
Interesting facts about the global market for sustainable packaging:
-- The growing demand for recycled material packaging represents a
significant shift towards sustainability, driven by consumer preference
for eco-friendly options and stricter regulations. Companies are
increasingly recognizing the value of incorporating recycled materials
into their products.
-- Major brands like Coca-Cola, PepsiCo, Nestlé, Danone, and Unilever are
supporting chemical recycling and collaborating with recyclers to
advance this innovative technology.
The report addresses the following questions:
1. What are the projections for the market?
-- The sustainable packaging market is projected to grow from $278.1
billion in 2023 to $391.1 billion in 2029 at a CAGR of 6.0% during the
forecast period.
2. What are the key factors driving the growth of the market?
-- Increased recyclability of paper and paper packaging.
-- Demand for recycled materials-based packaging.
-- Growth in reusable packaging to achieve efficiency and environmental
goals.
3. What segments are covered in the market?
-- The market is segmented based on material, process, end user, and
region.
4. Which material will dominate the market by the end of 2029?
-- The paper segment will dominate the market in terms of value.
5. Which region has the highest market share?
-- Europe holds the highest share of the market by value, due to the
presence of many sustainable packaging manufacturing companies in the
region, technological advances, and stringent regulations on the use of
single-use plastic packaging.
Leading companies include:
-- 3M
-- AMCOR PLC
-- ARDAGH GROUP S.A.
-- BALL CORP.
-- BERRY GLOBAL INC.
-- DUPONT
-- HUHTAMAKI
-- INTERNATIONAL PAPER
-- MONDI
-- NATUREWORKS LLC.
-- PLASTIPAK HOLDINGS INC.
-- SONOCO PRODUCTS CO.
-- STOELZLE GLASS GROUP
-- SMURFIT WESTROCK
-- SEALED AIR
-- TETRA PAK INTERNATIONAL S.A.
Related Reports:
Global Bio-based Composite Material Market: This report provides an analysis of the global market for bio-based composite materials, segmented by type (wood fiber and non-wood fiber), fiber type (including wood fiber, hemp, and flax), resin type (such as polyethylene, polypropylene, and polyvinyl chloride), end-use (building and construction, transportation, industrial applications, and consumer goods), and region (North America, Europe, Asia-Pacific, and RoW). Estimated revenues are based on manufacturers' total revenues in constant U.S. dollars, without adjustment for inflation.
Plastics Recycling: Global Markets: This report provides an in-depth analysis of the global plastic recycling market, with 2023 as the base year and revenue forecasts from 2024 to 2029 (in $ millions). The market revenue includes only the earnings of plastic recyclers from providing recycling services and selling recycled plastics. The report further segments the market by type PET, HDPE, LDPE and LLDPE, and PP), end-use industry (packaging, construction, and transportation), technology (mechanical and chemical), and region (Asia-Pacific, Europe, North America, and Rest of the World).
Directly purchase a copy of the report from BCC Research.
For further information or to make a purchase, please get in touch with info@bccresearch.com.
About BCC Research
BCC Research market research reports provide objective, unbiased measurement, and assessment of market opportunities. Our experienced industry analysts' goal is to help readers make informed business decisions, free of noise and hype.
Contact Us
Corporate HQ: 50 Milk St. Ste 16, Boston, MA 02109, USA
Email: info@bccresearch.com,
Phone: +1 781-489-7301
For media inquiries, email press@bccresearch.com or visit our media page for access to our market research library.
Any data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher.
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SOURCE BCC Research LLC
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