Sustainable Packaging Market Size is Expanding at USD 211.51 BN by 2032

Ottawa, May 08, 2023 (GLOBE NEWSWIRE) -- The sustainable packaging market size was estimated at USD 101.49 billion in 2022. Sustainable packaging is a type of packaging that has a reduced environmental impact and meets the needs of present demands without compromising the quality of packaging. Sustainable packaging considers the entire lifecycle of the packaging, from raw material extraction and production to disposal, and seeks to minimize the environmental impact at every stage.

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Sustainable packaging is designed to minimize environmental impact while providing the necessary protection and functionality required for packaging. It takes a holistic approach to packaging design, taking into account the entire lifecycle of the packaging and its impact on the environment and human health. The sustainable packaging market is driven by increasing awareness among consumers and businesses on the environmental effects of packaging and the need to reduce waste and conserve resources. Governments are also increasingly supportive of sustainable packaging initiatives, offering incentives and regulations to encourage sustainable practices.

Regional snapshot:

Europe is expected to remain the most significant marketplace for sustainable packaging during the forecast period. The sustainable packaging industry in Europe is expected to continue to grow as consumers and businesses prioritize sustainability and look for environmentally friendly packaging solutions.

Some of the leading companies operating in the sustainable packaging market in Europe include Amcor, Tetra Pak, Smurfit Kappa, and DS Smith. These companies are investing in research and development to create innovative and sustainable packaging solutions that meet the needs of customers while also reducing their environmental impact.

Germany, Netherlands, Sweden, and the United Kingdom are significant contributors to the growth of the sustainable packaging market in Europe. Following Germany, the United Kingdom is expected to witness a substantial increase in the European sustainable packaging market. The United Kingdom has a well-established recycling infrastructure and has implemented policies and regulations to reduce waste and promote sustainable practices.

Sweden is another country that has made significant progress in sustainability and has a strong focus on circularity. The country is home to many companies developing sustainable packaging solutions, and the government has implemented policies and regulations to promote sustainable practices.

Asia Pacific is expected to register the fastest growth during the forecast period owing to the rising awareness about the negative impacts of harmful plastic and toxic metal packaging in the region. In addition, the availability of low-cost raw materials required in sustainable packaging solutions is supporting the market’s growth in Asia Pacific. China is the largest market for sustainable packaging in the Asia Pacific region, followed by Japan, India, and South Korea. In recent years, the Chinese government has implemented policies and regulations to promote sustainable practices and reduce waste, which has driven demand for sustainable packaging solutions. For example, China has implemented a ban on single-use plastic bags and has introduced a national waste-sorting policy. Some of the leading companies operating in the sustainable packaging market in the Asia Pacific region include Amcor, Huhtamaki, and Tetra Pak.

Scope of this report

Report Highlights:

• By packaging type, the recycled segment dominated the global sustainable packaging sector in 2022; the piece is predicted to maintain its dominance due to the availability of a wide range of recyclable materials for packaging, including paper, steel, aluminum, and glass. On the other hand, the reusable packaging segment is expected to show a significant increase during the forecast period due to the rising use of plastic containers in multiple industries. Chemical, pharmaceuticals, and other end-users are shifting their focus to reusable plastic packaging containers; this is observed as a significant driver for the segment’s growth.
• By material, the paper segment is expected to dominate the global market with an increasing focus on the creation of paper bags by multiple clothing brands. On the other hand, Moreover, the plastic segment holds a significant share of the market, and the rising production of sustainable and biodegradable plastic packaging for food products is expected to maintain the segment’s dominance during the forecast period. The increasing emphasis on sustainable glass packaging for alcoholic beverages is expected to fuel the growth of the glass material segment.
• By application, food and beverage dominated the global sustainable packaging market in 2022; the sudden increase in food chains across the globe, along with the rising requirements for green packaging in the food industry, supported the segment’s growth. Moreover, the personal care segment is predicted to dominate the global market owing to the rising consumer preferences towards green and eco-friendly packaging for cosmetics and personal care products. On the other hand, the emerging restrictions on pharmaceutical companies for rising sustainability are expected to boost the growth of the healthcare segment during the forecast period.
  
  

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Market dynamics:

Driver:

Rising environmental concerns due to plastic usage

Plastic pollution has become a significant environmental issue, with plastic waste polluting our oceans, harming wildlife, and causing other environmental problems. As a result, consumers are becoming increasingly aware of the environmental impact of plastic packaging and are demanding more sustainable alternatives. Companies are responding to this demand by developing and adopting more sustainable packaging solutions, such as biodegradable, recyclable, and reduced packaging. Overall, the rising environmental concerns due to plastic usage are driving the growth of the sustainable packaging market by creating a demand for more sustainable packaging solutions that are better for the environment and meet the needs of consumers and businesses alike.

Restraint:

Lack of infrastructure

Lack of infrastructure is a significant constraint that hinders the growth of the sustainable packaging market in several ways. Sustainable packaging materials require proper recycling facilities to be effectively recycled. However, the lack of recycling infrastructure in many regions makes it difficult for companies to use sustainable packaging materials. Without adequate recycling facilities, sustainable packaging materials may end up in landfills or oceans, leading to adverse environmental impacts. Sustainable packaging materials may require different storage conditions, such as temperature and humidity control, compared to traditional materials. The lack of proper storage infrastructure can limit the availability of sustainable packaging solutions. Sustainable packaging materials may be more fragile or heavier than conventional materials, which can increase transportation costs. The lack of transportation infrastructure, such as efficient and affordable transport modes, can pose a challenge to the adoption of sustainable packaging.

Opportunity:

Emerging e-commerce business

The emergence of e-commerce businesses presents significant opportunities for a sustainable packaging market. As more consumers shop online, there is a growing need for packaging solutions that protect products during shipping and handling while being environmentally friendly. Sustainable packaging solutions for e-commerce businesses can include biodegradable, compostable, or recyclable materials. In addition, e-commerce businesses present opportunities for sustainable packaging solutions designed to reduce the amount of packaging needed while protecting products during shipping. Furthermore, e-commerce businesses can benefit from the cost savings associated with sustainable packaging solutions. These solutions can reduce the amount of packaging needed, leading to lower shipping costs and a more efficient supply chain.

Challenge:

Complexity in sustainable packaging process

Sustainable packaging involves using multiple materials and complex designs to achieve the desired functionality; this can result in higher production costs than traditional packaging, which can deter some companies from adopting sustainable packaging solutions. Sustainable packaging materials may not be compatible with existing supply chain infrastructure, such as recycling facilities or packaging machinery. This can result in additional costs and complexity to retrofit or upgrade existing infrastructure to accommodate sustainable packaging. Sustainable packaging is subject to various regulations and standards that can add complexity and uncertainty to the design and production process, making it difficult for companies to navigate the regulatory landscape and ensure compliance with the applicable requirements.

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Recent Developments:

• In January 2023, Cascades announced the launch of a new closed-basket form of packaging for fruits and vegetables. The packaging is made of 100% recycled and recyclable corrugated cardboard. With this launch, the company aims to support consumers’ efforts to reduce environmental impacts by maintaining the circular economy approach.
• In March 2023, a United Kingdom-based supermarket chain, Sainsbury’s, launched sustainable cardboard packaging for its detergent brand. The new packaging for detergent powder is 35% lighter than the traditional/original packaging of the brand, which is aimed to reduce carbon emissions by 50%.
• In February 2023, a leader in flexible packaging, ProAmpac, announced the launch of ProActive Recyclable Paper-1000, an innovative addition to the company’s recyclable paper-based packaging solution series. The packaging material is heating sealable and has moisture barrier properties that also carry excellent directional tear properties.
  
  

Market Segmentation

By Packaging Type

• Recycled content packaging
• Reusable packaging
• Degradable packaging
  
  

By Material

• Glass
• Paper
• Metal
• Plastic

By Application

• Food & beverage
• Personal care
• Healthcare
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
  
  

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