Global Sustainable Plastic Packaging Market is valued approximately USD 84.0 Billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.6% over the forecast period 2021-2027.
Sustainable plastic packaging is the use of packaging that helps in enhancing sustainability. This packaging gains huge traction owing to the emergence of eco-friendly and green packaging solutions to the corrugated cardboard boxes, plastic bottles, metal cans, etc. This helps in boosting the shelf life of the products. The introduction of various regulatory initiatives towards sustainable packaging, rising inclination towards recyclable and eco-friendly products, and the emergence of novel technologies for packaging solutions are accelerating the market demand across the globe. For instance, in January 2020, Sealed Air Corporation introduced the novel version of the company's bubble wrap brand packaging, which is manufactured with at least 90% recycled content. Thus, the rising number of sustainable product launches by the market players are gaining huge traction for sustainable plastic packaging globally, which, in turn, surges the market demand. However, poor infrastructure facilities for recycling impede the growth of the market over the forecast period of 2021-2027. Also, the growth of the e-commerce industry is anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the global Sustainable Plastic Packaging market study includes Asia Pacific, North America, Europe, Latin America and the Rest of the World. The Asia Pacific is the leading region across the world in terms of market share owing to the rising awareness regarding the significance of renewable and ecofriendly packaging along with the growth of the various industries the majorly across emerging nations like India and China. Whereas, Europe is anticipated to exhibit a considerable growth rate over the forecast period 2021-2027. Factors such as the rising initiatives for sustainable environment, steady growth of the food & beverage industry, as well as industrialists are also promoting the adoption of sustainable packaging would create lucrative growth prospects for the Sustainable Plastic Packaging market across the region.
Major market player included in this report are:
Sonoco Products Company
Berry Global Inc.
Amcor PLC
Huhtamaki OYJ
Sealed Air Corporation
BALL CORPORATION
Reynolds Packaging
Ardagh Group S.A.
Evergreen Packaging LLC
Mondi Plc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Packaging Type
Rigid
Flexible
Industrial
By Packaging Format
Primary packaging
Secondary packaging
Tertiary packaging
By Process
Recyclable
Reusable
Biodegradable
By End-Use Sector
Food & beverage
Personal care
Healthcare
Other end-use sectors (electronics and homecare)
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027
Target Audience of the Global Sustainable Plastic Packaging Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors