[252 Pages Report] Stringent regulations regarding sustainability, coupled with changing preferences towards more sustainable packaging materials are some of the major factors for growth of the sustainable packaging industry. The sustainable packaging market was valued at USD 201.60 billion in 2014, and is projected to grow at a CAGR of 7.17% from 2015 to 2020. Degradable packaging is the fastest-growing process in the sustainable packaging market. In the material segment, paper & paperboard packaging is projected to grow at the highest rate. In terms of application, the food & beverage packaging segment is the fastest-growing segment, followed by the personal care packaging segment.

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Leading players in the sustainable packaging market include Amcor Limited (Australia), Bemis Company, Inc. (U.S.), Tetra Laval International S.A. (Switzerland), Mondi plc (South Africa), WestRock Company (U.S.), BASF SE (Germany), Sonoco Products Company (U.S.), Smurfit Kappa Group PLC (U.S.), Sealed Air Corporation (U.S.), and Huhtamaki OYJ (Finland). The main strategies adopted by the sustainable packaging companies are mergers and acquisitions.

On the basis of material, the sustainable packaging market has been segmented as follows:

Paper & Paperboard
Plastic
Metal
Glass
On the basis of function, the sustainable packaging market has been segmented as follows:

Active packaging
Molded pulp packaging
Alternate fiber packaging
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On the basis of application, the sustainable packaging market has been segmented as follows:

Food & Beverage packaging
Healthcare packaging
Personal care packaging
Others (electronic appliances and home care packaging)
The requirements of the manufacturers to adhere to standards set by governments for sustainable packaging make it essential for the manufacturers to continually invest in research and development activities for innovative solutions. Companies are also adopting inorganic growth strategies such as agreements and joint ventures to cope with the increasing demand of sustainable packaging in the key emerging markets. These strategies have aided companies to create a large customer and partner base in the key markets.

Major companies have regional and local distributors to increase their shares in several countries. One of the major developments observed in the sustainable packaging market is mergers and acquisitions. Companies are adopting organic growth strategies such as new product developments to cope with the increasing demand for sustainable packaging solutions in emerging markets. These strategies have aided major companies create a huge customer and partner base in these markets.

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