Revolutionary Growth Projected as Sustainable Packaging Market Surges to $16.81 Billion by 2029
In a groundbreaking development, the Sustainable Packaging Market is poised to skyrocket from its 2022 valuation of $10.25 billion to an astonishing $16.81 billion by 2029, marking a robust Compound Annual Growth Rate (CAGR) of 7.31%.
Sustainable Packaging Market Overview:
Maximize Market Research's latest report on the Sustainable Packaging Market 2023-2029 is invaluable for understanding Market competitors. The report offers an extensive and fundamental analysis of the Market, exploring subjective factors that provide crucial business insights. It presents a Market overview that covers the value chain structure, geographical analysis, applications, and Market size during the forecast period.
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Sustainable Packaging Market Report Scope and Research Methodology:
The Sustainable Packaging Market report is designed to provide an outlook on Market size, considering segments, regional analysis, and industry competition. Utilizing a bottom-up approach, the report estimates and forecasts Market growth. It further conducts an in-depth examination of key players in the Sustainable Packaging industry, offering insights into their revenue performance. The report encompasses a comprehensive analysis of the Sustainable Packaging Market at global, regional, and local levels, identifying the factors that hinder, drive, and challenge Market growth in the forecast period.
Sustainable Packaging Market Segmentation:
by Material Type
1. Paper and Paperboard
2. Plastics
1. Biodegradable
2. Bio-based
3. Aluminum
4.Others
In 2022, the paper and paperboard segment had the highest revenue share of 21.2%, determined by Material Type. An encouraging trend that indicates a growing understanding of the need for sustainable packaging solutions is the high demand for sustainable paper and paperboard materials for the import and export of packaging products. It is anticipated to increase in the upcoming years as a step towards a more sustainable future. Paper and paperboard are sustainable packaging materials that Amazon has promised to use for its shipments. The company has implemented several eco-friendly packaging programmes, such as switching to paper-based cushioning materials in place of plastic ones and using corrugated boxes with a high percentage of recycled content.
by Packaging Type
1. Rigid Packaging
2. Flexible Packaging
According to packaging type, the segment with rigid packaging held a significant market share of approximately 18.2% in 2022 and is anticipated to continue doing so throughout the forecast period. A lot of businesses are making rigid packaging products with sustainable materials.
Coca-Cola has put in place a number of sustainable packaging initiatives, such as the use of plant-based plastics and recycled content, and has committed to making all of its packaging 100% recyclable by 2025. For its Dasani water brand, the company has unveiled a sustainable plastic bottle composed entirely of recycled PET plastic. For rigid packaging applications, this is anticipated to accelerate the growth of the Sustainable Packaging market.
by End User
1. Pharmaceutical and Healthcare
2. Cosmetics and Personal Care
3. Food and Beverage
4. Other End Users
The food and beverage segment held a notable market share of approximately 56.3% in 2022, and it is anticipated to continue growing throughout the forecast period, according to the End User. Many businesses are using recycled plastics in their packaging, either by developing new packaging solutions that are made completely of recycled materials or by adding recycled content to their current packaging. The food and beverage industry is also seeing an increase in the use of reusable packaging. Reusable packaging options, like refillable receptacles or packaging that can be sent back to the manufacturer for further use, are being investigated by certain businesses.
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Sustainable Packaging Market Key Players are:
1. Sonoco Products Company
2. Amcor pie
3. Gerresheimer AG
4. Smurfit Kappa
5. Ball Corporation
6. BASF SE
7. Ardagh Group S.A.
8. Crown Holding,Inc.
9. WestRock Company
10. DS Smith
11. Mondi
12. International Paper
13. Berry Global
14. Printpack
15. Sealed Air
16. Stora Enso Oyj
17. Georgia-Pacific
18. Huhtamaki
19. Genpak,LLC
20. Tetra Pak InternationalS.A.
21. Billerud
22. Albea S.A.
23. HCP Packaging
Key questions answered in Sustainable Packaging Market are:
What is Sustainable Packaging?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Sustainable Packaging Market?
Which factors are the lucrative opportunities for the Sustainable Packaging Market growth?
Which factors are limiting the scope of the Sustainable Packaging Market?
How is the intervention from regulatory authority shaping the Sustainable Packaging Market?
What growth strategies are the key players considering to increase their presence in the Sustainable Packaging Market?
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Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by different segment | 2023−2029
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
Sustainable Packaging Market Regional Insights:
North America dominated the Sustainable Packaging Market in 2022 due to the presence of Market leaders in the region. Europe and Asia Pacific are fast-growing regions in the Sustainable Packaging Market as technological developments are rising in the region.
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