New York, June 25, 2021 (GLOBE NEWSWIRE) – Overview of the sustainable packaging market: According to a comprehensive research report from Market Research Future (MRFR), “Sustainable packaging market Research report, packaging type, material, process, application and region – Forecast to 2027 ” The global market is expected to reach USD 470.3 billion by 2027, up from an estimated USD 305.31 billion in 2020, at a CAGR of 10.3% from 2021 to 2027.
The efforts of private and public organizations to accelerate the environmental transition, in line with market expectations, create vast market opportunities. With the increasing use of sustainable packaging for food and beverage products, the size of the sustainable packaging market is expected to continue to boost. The development of sustainable packaging resources reducing the impact on nature acts as a major tailwind.
Personal care and beauty packaging specialists are striving to develop a more sustainable packaging option that can bring cosmetics into a new era. In addition, initiatives to reduce the use of non-degradable packaging materials, the significant growth of sustainable packaging lines and green strategies for sustainable packaging are important driving forces influencing the growth of the market.
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Key companies featured in the The Sustainable Packaging Market Research Report is –
- Bemis Company Inc. (United States)
- Amcor Limited (Australia)
- Mondi plc. (Austria)
- DS Smith Plc. (UK)
- Stora Enso Oyj (Finland)
- Smurfit Kappa Group Plc. (Dublin)
- Sonoco Product Company (United States)
- Silgan Holdings Inc. (United States)
- The Dow Chemical Company (United States)
- LLC (North Carolina)
- BASF SE (Germany)
- EI DuPont de Nemours and Company
- Mondi Limited
- Sealed airline
- TetraPak International SA
- Ardagh Group Co.
- PlastiPak Holdings Inc.
- ELOPAK AS
- Catalyst paper
- Uflex limited
- Phoenix Technologies
- Innova Films LtÃ©e
- Clorox Company
- Ball company
Impact of COVID-19
The outbreak of COVID-19 has hit the sustainable packaging market industry hard, causing huge revenue losses for end users like personal care, food and beverage, and pharmaceuticals. Although the demand for fresh food and drink was significant in 2020, the market suffered severe revenue losses.
In addition, the lockdown caused by the coronavirus has halted production of several key raw materials in the global market, leading to various issues related to obtaining raw materials, attracting workers from quarantines, and delivering. of finished products. However, the sustainable packaging market is quickly returning to normal, witnessing steadily increasing demand. Increased production activities and demand for storage and distribution applications are further expected to provide strong market opportunities.
Browse the in-depth (111 pages) market research report on Sustainable Packaging
The demand for green and environmentally friendly packaging solutions to reduce the effects of non-degradable materials such as plastic on the environment is a major trend in the sustainable packaging market. Industries such as food and beverage packaging, personal care and medicine have shown great interest in eco-friendly and green materials, seeing customers turn to sustainable packaging.
With easily degradable and less energy-consuming materials being used in the packaging industry today, many investors are interested in sustainable packaging technologies. In addition, the pressure to reduce greenhouse effects and the use of fossil fuels is driving the growth of the sustainable packaging market. The increasing efforts to produce biodegradable products and focus on materials with high resistance to humidity, heat and easily recyclable are leading to significant investments in the market.
The market is segmented into product, material, packaging material, application, and region. The product segment is sub-segmented into reusable, recycled and degradable products. The materials segment is sub-segmented into bioplastics, metal, glass, paper and others. The packaging materials segment is sub-segmented into plastic containers, tubes, reusable packaging, bags, drums, pouches, corrugated boxes, degradable packaging and others.
The application segment is sub-segmented into healthcare, food, beverage, personal care and others. The regional segment is sub-segmented into the Americas, Europe, Asia-Pacific and the rest of the world.
Europe dominates the global sustainable packaging market. The main industry players in the region are constantly coming up with new, sustainable packaging that positively impacts the environmental footprint of the supply chain.
In addition, the increased demand for green packaging solutions for fresh vegetables and fruits and the complacent and convenient products promoted using online media are the main trends in the sustainable packaging market. The wide adoption of green packaging solutions is increasing the region’s sustainable packaging market share.
The Asia-Pacific region ranks second in terms of revenue in the global sustainable packaging market. High production rates of fresh produce and growing demand for environmentally friendly packaging solutions in China and India are major driving forces.
Factors such as the growth of recyclable and reusable materials, new environmentally friendly technologies and government support are shaping the future of sustainable packaging in the region. Additionally, vast investments in product development and packaging technology upgrades are increasing the size of the sustainable packaging market in the region. In addition, the increase of e-commerce businesses in the region is boosting the growth of the sustainable packaging market.
The North American sustainable packaging market has grown into a profitable market globally. The region is seeing superior product developments in packaging solutions, thanks to vast investments and innovations in R&D.
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In addition, the people of North America are concerned about environmental issues and global warming, thus increasing the value of the sustainable packaging market in the region. In addition, the strict food safety policies in the United States and Canada are driving the growth of the sustainable packaging market. With its booming e-commerce sector, the United States dominates the regional market.
The sustainable packaging market is witnessing several strategic approaches, such as collaboration, mergers and acquisitions, expansion and product / technology launches. The main players in the industry make strategic investments to drive research and development activities and expansion plans. With growing consumer demand for sustainable packaging, manufacturers are looking for new ways to bring innovative solutions to customers, improving their practices.
For example, recently on June 14, 2021, the Acma Group (Italy) presented its latest series of sustainable Ecoshell paper-based packaging offering flexible designs, especially for the confectionery industry. The new series is developed to avoid the use of plastic and to offer new environmentally friendly solutions.
In addition to the more common forms, such as Flip Top and Zip Top, Acma’s latest boxed product line features a distinctive design allowing a convenient dosing function with great ease of use while remaining focused on the creating attractive designs.
Market segmentation covered by research:
Information by type of packaging (tubes, bags and pouches, corrugated cardboard box and others), by material (paper and cardboard, glass, metal, plastic), by process (degradable packaging, recycled packaging, reusable packaging), by application (personal care, food and drink, pharmaceuticals and others) and region (North America, Europe, Asia-Pacific and rest of the world)
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