Sustainable Packaging Market Size, Share, Growth Analysis, By Type(Paper-based packaging and bioplastics), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30K2042 | Region: Global | Published Date: June, 2024
Pages: 157 |Tables: 34 |Figures: 74

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Sustainable Packaging Market size was valued at USD 363.20 billion in 2021 and is poised to grow from USD 371.4 billion in 2022 to USD 737.6 billion by 2030, growing at a CAGR of 10.30% in the forecast period (2023-2030).

The sustainable packaging market is characterized by a mix of established companies and emerging players. Market participants are focusing on research and development activities to enhance the efficiency and performance of Sustainable Packaging. Additionally, strategic collaborations, partnerships, and mergers and acquisitions are prevalent strategies adopted by companies to expand their market presence. The competitive environment is further influenced by factors such as technological advancements, government regulations, and the ability to provide cost-effective and sustainable solutions. 'Amcor (Australia)', 'Tetra Pak (Switzerland)', 'Sealed Air Corporation (United States)', 'Huhtamaki Oyj (Finland)', 'Mondi Group (Austria)', 'Smurfit Kappa Group (Ireland)', 'DS Smith Plc (United Kingdom)', 'WestRock Company (United States)', 'Ball Corporation (United States)', 'Stora Enso Oyj (Finland)', 'Ardagh Group (Ireland)', 'Sonoco Products Company (United States)', 'Reynolds Group Holdings Limited (New Zealand)', 'Graphic Packaging Holding Company (United States)', 'International Paper Company (United States)', 'Amcor (Australia)', 'Sidel (France)', 'Clondalkin Group (Netherlands)', 'Evergreen Packaging (United States)', 'Coveris Holdings S.A. (Luxembourg)'

One driver of the sustainable packaging market is the growing consumer demand for eco-friendly and sustainable products. Consumers are becoming more conscious of the environmental impact of packaging materials and are actively seeking products with sustainable packaging solutions. This demand is driving companies to adopt sustainable packaging practices and develop innovative, environmentally friendly packaging materials and designs. Additionally, governments and regulatory bodies are implementing stricter regulations and policies related to packaging waste and encouraging the use of sustainable packaging, further propelling the market's growth.

One key market trend in the Sustainable Packaging market is the increasing consumer demand for eco-friendly and recyclable packaging solutions. With growing environmental consciousness, consumers are actively seeking products that are packaged in materials that minimize their impact on the environment. Sustainable packaging, such as biodegradable materials, recycled content, and reusable packaging options, is gaining popularity as it aligns with consumers' preferences for sustainable and responsible consumption. Companies in the packaging industry are responding to this trend by investing in research and development of innovative sustainable packaging solutions, collaborating with suppliers to source eco-friendly materials, and adopting circular economy principles to reduce waste and promote recycling. This market trend reflects the evolving consumer mindset and the industry's efforts to meet the demand for sustainable packaging solutions.

One dominant region in the sustainable packaging market is Europe. Europe has been at the forefront of sustainability efforts, with stringent regulations and initiatives promoting environmentally friendly packaging solutions. The region has witnessed significant adoption of sustainable packaging practices across various industries, driven by consumer demand for eco-friendly products and corporate sustainability goals. European countries, such as Germany, France, and the Netherlands, have implemented strict recycling and waste management policies, encouraging the use of recyclable and biodegradable packaging materials. The dominance of sustainable packaging in Europe is further supported by a strong circular economy approach and investments in research and development for innovative packaging solutions.

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Global Sustainable Packaging Market

Product ID: SQMIG30K2042