Sustainable Packaging Industry to boost technology to achieve CAGR of 7% by 2023

Posted October 31, 2018 by suraj28426713

Sustainable Packaging Market, By Packaging Type (Tubes, Bags & Pouches, Corrugated Box and others), By Material (Paper & Paperboard, Glass, Metal, Plastic), By Process (Degradable Packaging, Recycled Packaging, Reusable Packaging)

Market Synopsis

Packaging materials are some of the most ubiquitous and easily recognizable items people use. Packaging includes plastic bottles, metal cans, corrugated cardboard boxes and many more materials. Production and disposal of these materials is crucial in making economic and environmentally conscious decisions. With the constantly aggravating global pollution and climate change, the need for a fast switch to sustainable materials, resources and technologies, is growing.

Packaged food & beverages, and personal care companies are demanding eco-friendly packaging materials that are also visually appealing to consumers. This has pushed vendors to introduce innovative products and the use new technologies in their manufacturing. They are looking for high-performing packaging options that permit them to retain low manufacturing costs. Despite growing consumer preference for sustainable packaging, designing with the aim to minimize environmental impact remains a real challenge. Additionally, numerous companies continue to compromise with their packaging. Encouraging the shift in packaging construction towards more lightweight or efficient materials, helps companies save money while decreasing the amount of waste generated.

According to the study, demand for eco-friendly and sustainable packaging materials by consumers is on the rise. Hence, vendors are largely focusing on developing materials that can be recycled and have the traditional capabilities of resistance to friction, moisture, and heat. According to the report, one of the major drivers of the market is the demand for bio plastic packaging. Bio plastic packaging products are considered more sustainable than conventional plastic packaging products because they consume less energy and natural resources, generate lower carbon emissions, and are lightweight in nature. Moreover, growing consumer awareness

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and government regulations, are anticipated to propel the industry growth over the forecast period. However, fluctuating raw material prices and the high cost of production may hinder the industry’s growth over the forecast period.

Sustainable packaging is a form of packaging that utilizes manufacturing methods or materials that have a low impact on the environment. In addition, several players are also focused on developing niche products in the market. Rapid growth of this market has also resulted in creating further skilled job opportunities in major hubs spread across North America, and Asia Pacific. Sustainable packaging is developing as an important industry because of the problems faced due to pollution generated by packaging, especially in the developing countries. Major developments in sustainable packaging techniques in Asian countries are considered, and the present and forecast market size of the industry is provided.

Sustainable packaging involves the use of manufacturing methods and materials for packaging of goods that have a low impact on the environment and energy consumption. Green or sustainable packaging uses environment-sensitive methods, including energy efficiency, recyclable and biodegradable materials, and reusability. Retailers and consumer packaged goods companies have devoted more attention towards developing sustainable products, mainly in response to customers’ evolving expectations. By application, food and beverage is the largest application segment and is expected to continue dominating the market in the future. The material is gaining popularity among industries such as food & beverage, healthcare, and personal care, owing to the growing environment concerns and the increasing need for reducing the use of toxic materials. Global Sustainable Packaging Market is anticipated to flourish at ~7% CAGR, over the forecast period.

Market Research Analysis:

By moving beyond conventional packaging methods and materials, companies can reduce their carbon footprints and their transportation and warehousing costs. In terms of region, global sustainable market is segmented into four major regions including North America, Europe, Asia Pacific and RoW. Additionally, Asia Pacific region is expected to be the fastest growing market for green packaging during the forecast period. Increasing consumer awareness coupled with rising demand for recyclable products, acts as a key factor behind the growth of the sustainable packaging market in this region.

The increasing environmental consciousness, is the key factor that is driving the sustainable packaging market. The use of non-biodegradable plastics, causes various harmful effects on the environment such as landfill, soil pollution, and loss of the soil fertility. Stringent regulations are, thus, implemented by the government to improve the conditions of the environment. There are certain regions where the use of plastic bags is completely banned, thus triggering the growth of the sustainable packaging market.

Scope of the report

This study provides an overview of the global sustainable packaging market, tracking one market segment across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Sustainable Packaging market by its packaging type, material, process, application and region.

Sustainable Packaging Market, By Packaging Type

Bags & Pouches
Corrugated Box
Sustainable Packaging Market, By Material

Paper & Paperboard
Sustainable Packaging Market, By Process

Degradable Packaging
Recycled Packaging
Reusable Packaging
Sustainable Packaging Market, By Application

Food & Beverages
Personal Care
By Region

North America
Asia Pacific
Rest of the World

Key Players

The key players of global sustainable packaging market includes Amcor Limited (Australia), Silgan Holdings Inc.( U.S.), Bemis Company Inc.( U.S.), Sonoco Products Company (U.S.), Mondi plc.( Austria), The Dow Chemical Company(U.S.), Stora Enso Oyj(Finland), BASF SE (Germany), Genpak, LLC(North Carolina), DS Smith Plc.( U.K.), and Smurfit Kappa Group Plc.(Dublin) and others.

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Issued By suraj
Country United States minor outlying islands
Categories Advertising , Business , Industry
Tags future and scope , market research , market size , packaging and transport
Last Updated October 31, 2018