Pune, April 27, 2023 (GLOBE NEWSWIRE) -- A global Packaging research and business-consulting firm, Maximize Market Research, has published a market intelligence report on the “Sustainable Packaging Market”. The report is a combination of primary data and secondary data and domain expert has analyzed the Sustainable Packaging Market from a local as well as a global point of view. Over the forecast period, Maximize Market Research expects, the market to grow from USD 281.42 Bn in 2022 to USD 406.66 Bn in 2029 at a CAGR of 5.4 percent.
Sustainable Packaging Market Report Scope and Research Methodology
| Market Size in 2022 | USD 281.42 Bn. |
| Market Size in 2029 | USD 406.66 Bn. |
| CAGR | 5.4 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 276 |
| No. of Tables | 116 |
| No. of Charts and Figures | 114 |
| Segment Covered | Material Type, Packaging Type and End User |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The Sustainable Packaging Market report provides a detailed analysis of the data through segments such as operations and payloads along with their multiple sub-segments. The bottom-up approach is used to estimate the size of the Sustainable Packaging Market by value and volume. The report includes data regarding strategies, investment in research and development and mergers and acquisitions. The Sustainable Packaging Market involves pricing analysis, market share and product penetration and scope for the market in major geographic regions such as North America, South America, Asia Pacific, Middle East and Africa and Europe. Primary and secondary research methods were used to collect data. Collected data was later analyzed by tools such as SWOT analysis and PORTER’s five force model, which includes drivers, restraints, opportunities and regional insights.
Sustainable Packaging Market Overview
Sustainable packaging is a product that is degradable and harmless to the environment. Sustainable packaging has some significant benefits such as being easily disposable, reducing carbon footprints, no harmful toxins and others. Increasing demand for sustainable food packaging and supportive government regulations are boosting the market.
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Sustainable Packaging Market Dynamics
The government regulations of the government and global trends of ESG, the rapid growth in the e-commerce industry along with the demand for sustainable packaging solutions are expected to drive the Sustainable Packaging Market. The increased consumer awareness and risks associated with the use of plastic and the benefits of using single-use and non-biodegradable plastic goods for packaging have been driving the Sustainable Packaging Market. The market is also expected to be driven by the major Sustainable Packaging Key Companies’ developing new technologies to integrate sustainable plastic packaging. The lack of manufacturing plants is expected to impede market growth.
Sustainable Packaging Market Regional Insights
Europe is expected to grow significantly during the forecast period (2023-2029). The growth is supported by the growing demand for sustainable packaging and the aim of reducing waste and promoting sustainability across the world. North America is the second-largest growing region in the Sustainable Packaging Market government initiatives and corporate sustainability regulations are expected to drive North America Sustainable Packaging Market.
Sustainable Packaging Market Segmentation
By Material Type:
- Paper and Paperboard
- Plastics
- Biodegradable
- Bio-based
- Aluminium
- Others
The Paper and paperboard segment accounted for the revenue of 21.2 percent in 2022. Recently, Amazon decided to use sustainable materials paper and paperboard for its shipments.
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By Packaging Type:
- Rigid Packaging
- Flexible Packaging
The Rigid packaging segment held the Sustainable Packaging Market share of 18.2 percent in 2022 since the major companies have committed and started developing recycled products. For instance, Coca-Cola decided to make all of its packaging 100 percent recyclable.
By End User:
- Pharmaceutical and Healthcare
- Cosmetics and Personal Care
- Food and Beverage
- Other End Users
Sustainable Packaging Key Competitors include:
- Sonoco Products Company
- Amcor pie
- Gerresheimer AG
- Smurfit Kappa
- Ball Corporation
- BASF SE
- Ardagh Group S.A.
- Crown Holding,Inc.
- WestRock Company
- DS Smith
- Mondi
- International Paper
- Berry Global
- Printpack
- Sealed Air
- Stora Enso Oyj
- Georgia-Pacific
- Huhtamaki
- Genpak,LLC
- Tetra Pak InternationalS.A.
- Billerud
- Albea S.A.
- HCP Packaging
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Key questions answered in the Sustainable Packaging Market are:
- What is Sustainable Packaging Market?
- What was the Sustainable Packaging Market size in 2021?
- What is the expected Sustainable Packaging Market size during the forecast period?
- What are the global trends in the Sustainable Packaging Market?
- What are the major restraints for the Sustainable Packaging Market?
- Which segment dominated the Sustainable Packaging Market growth?
- What is the demand pattern for the Sustainable Packaging Market?
- What growth strategies are the players considering to increase their presence in Sustainable Packaging Market?
- What are the upcoming industry applications and trends for the Sustainable Packaging Market?
- Who are the leading companies and what are their portfolios in Sustainable Packaging Market?
- Which region dominates the largest market share in Sustainable Packaging Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, Organization Size, Application and Industry Vertical
- Market Segmentation – A detailed analysis by Material Type, Packaging Type and End User
- 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
Maximize Market Research is leading Packaging research firm, has also published the following reports:
Connected Packaging Market - The market size is expected to reach USD 61.73 Bn by 2029 at a CAGR of 5.13 percent during the forecast period. The market is expected to be driven by the growing complexity of things that must be preserved or transported to remote areas while maintaining their integrity.
Display Packaging Market - The market size is expected to reach USD 2.20 Bn by 2029 at a CAGR of 4.5 percent during the forecast period. The market is expected to be driven by growing interest in environmental issues, the most reputable brands are now focusing on eco-friendly packaging.
Sterile Packaging Market - The market size is expected to reach USD 79.06 Bn by 2029 at a CAGR of 9.1 percent during the forecast period. The market is expected to be driven by demand for anti-viral packaging solutions, as well as product innovation by sterile packaging manufacturers.
Cement Packaging Market - The market size is expected to reach USD 449.6 Bn by 2029 at a CAGR of 3.9 percent during the forecast period. The market is expected to be driven by the cement companies that have made the switch to environmentally friendly alternatives, such as replacing plastic bags with long-lasting paper bags.
Reusable Packaging Market - The market size is expected to reach USD 159.54 Bn by 2029 at a CAGR of 5.5 percent during the forecast period. The market is expected to be driven by the factors such as extreme durability and collapsible and allowing low-cost return.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
