USD 363.20 billion
Sustainable Packaging Market Size, Share, Growth Analysis, By Material(Plastics, Paper & Paperboard, Glass and Metal, and Others), By Type(Rigid, and Flexible), By Packaging Format(Primary Packaging, Secondary Packaging, and Tertiary Packaging), By Process(Recyclable, Reusable and Biodegradable), By Application(Food & Beverages, Pharmaceutical & Healthcare, Personal Care & Cosmetics, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30K2042 |
Region:
Global |
Published Date: July, 2024
Pages:
157
|Tables:
34
|Figures:
74
Sustainable Packaging Market Insights
Global Sustainable Packaging Market size was valued at around USD 269.90 billion in 2022 and is projected to grow from USD 290.95 billion in 2023 to USD 530.61 billion by 2031 at a CAGR of 7.8% over the forecast period (2024–2031).
Sustainable packaging solutions are packaging products that are made from eco-friendly materials. Rapidly increasing consumer awareness and demand for eco-friendly and sustainable packaging solutions is projected to bolster the global sustainable packaging market growth over the coming years. Rapidly expanding e-commerce industry and growing demand for better and more packaging solutions will also create new opportunities for sustainable packaging companies in the future. Imposition of stringent sustainability and environment conservation mandates are also slated to foster innovation in the sustainable packaging market going forward. Efforts to reduce plastic waste are also expected to create new business scope for all sustainable packaging providers. However, lack of consumer awareness and supply chain disruptions are forecasted to slow down sustainable packaging demand outlook in the long run.
US Sustainable Packaging Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
paper-based packaging
Fastest Growth
paper-based packaging
Growth Rate
10.30% CAGR
Global Sustainable Packaging Market ($ Bn)
Country Share for Europe Region (%)
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Sustainable Packaging Market Segmental Analysis
Global Sustainable Packaging Market is segmented by Material, Type, Packaging Format, Process, Application, and Region. Based on Material, the market is segmented into Plastic, Paper & Paperboard, Glass & Metal, and others. Based on Type, the market can be segmented into Rigid and Flexible. Based on Packaging Format, the market is segmented into Primary Packaging, Secondary Packaging and Tertiary Packaging. Based on Process, the market is segmented into Recyclable, Reusable and Biodegradable. Based on Application, the market is segmented into Food & Beverages, Personal Care & Cosmetics, Healthcare and Others. Based on Region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
Analysis by Material
Plastic is projected to emerge as the most used material in the global sustainable packaging market. Inexpensive and lightweight characteristics of sustainable packaging make it a highly coveted material in the global sustainable packaging market. Growing emphasis on replacing traditional plastic with recycled plastic to solve the plastic waste issue and satisfy the need for plastics in the packaging industry allows this segment to hold a dominant stance. Plastic has always been a preferred material for packaging, and this stays true in the era of sustainable packaging as well. However, the segment is projected to lose a good amount of market share to paper by the end of the study period.
The demand for paper and paperboard material is projected to surge at an impressive pace across the forecast period and beyond. Rising awareness regarding the benefits of paper packaging and supportive initiatives to promote the use of the same are also expected to help boost market growth over the coming years. High biodegradability, easily recyclable, and high availability are key factors that generate new opportunities for sustainable packaging companies in this segment.
Analysis by Type
Rigid packaging is projected to account for a prominent chunk of the global sustainable packaging market share. Extensive use of this type of packaging in almost all industry verticals is what helps the dominance of this segment. High security, ability to withstand extreme conditions, and greater protection of goods are key benefits of rigid packaging that attract more investors to this segment. However, rigid packaging solutions often take up more space as compared to flexible ones.
Meanwhile, the demand for flexible sustainable packaging solutions is projected to surge at an impressive pace in the future. The lightweight of flexible packaging solutions makes them a more sustainable alternative to rigid packaging solutions. Moreover, rising popularity of flexible packaging solutions and adoption by various industries is also expected to create new business scope via this segment in the long run.
Global Sustainable Packaging Market By Type
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Sustainable Packaging Market Regional Insights
Europe is the dominant regional market for sustainable packaging on a global level. High consumer demand for eco-friendly products and rising emphasis on sustainability helps the dominance of this region. Germany, France, and the Netherlands are some of the more noteworthy markets in this region owing to imposition of strict sustainability regulations and supportive policies for sustainable packaging companies. Growing recycling activity and the imposition of stringent waste management policies are also expected to create new opportunities for sustainable packaging companies in this region.
On the other hand, the demand for sustainable packaging in the Asia-Pacific region is projected to increase at a robust pace across the study period and beyond. Rising awareness regarding sustainability, rapidly expanding e-commerce industry, and high demand for novel packaging solutions are top factors that influence sustainable packaging market growth in this region. China, Japan, and India are estimated to emerge as the most opportune markets for sustainable packaging providers in this region going forward. Evolving consumer preferences are also expected to play a crucial role in governing sustainable packaging market growth in this region.
Global Sustainable Packaging Market By Region
- Largest
- Fastest
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Sustainable Packaging Market Dynamics
Sustainable Packaging Market Drivers
High Demand for Sustainable Packaging
- e-Commerce activity around the world has increased rapidly and this has led to high demand for packaging solutions. Imposition of strict mandates to conserve the environment and reduce waste has pushed the packaging industry to develop sustainable solutions thereby driving market growth.
Adoption of Hectic Lifestyles
- From e-commerce to online food delivery, almost all aspects of convenience are being preferred as people become more and more busy. Sustainable packaging is of the essence for growing demand for convenience products as it is a major contributor to waste and waste management is becoming more and more important.
Restraints
Lack of Awareness
- While sustainability is a key trend and the awareness for it higher than ever before, it is still not enough. Especially in the developing and underdeveloped countries, consumers are not aware of the benefits of sustainable packaging, and this is what slows down the overall sustainable packaging market development potential.
Supply Chain Issues
- Developing sustainable packaging requires supply chain stability, which is not present owing to changing regulations, trade bans, economic volatility, etc. These issues in supply chain could slow down sales of sustainable packaging in the long run.
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Sustainable Packaging Market Competitive Landscape
Sustainable packaging companies are focusing on experimenting with the use of new sustainable materials to comply with modern standards and satisfy the demand for sustainable packaging solutions. Providing custom and branded sustainable packaging solutions is also expected to create new opportunities for sustainable packaging companies. collaborations and partnerships will be essential and improving R&D capabilities of new as well as established companies in the future.
Sustainable Packaging Market Top Player’s Company Profiles
- Amcor (Australia)
- Tetra Pak (Switzerland)
- Sealed Air Corporation (United States)
- Huhtamaki Oyj (Finland)
- Mondi Group (Austria)
- Smurfit Kappa Group (Ireland)
- DS Smith Plc (United Kingdom)
- WestRock Company (United States)
- Ball Corporation (United States)
- Stora Enso Oyj (Finland)
- Ardagh Group (Ireland)
- Sonoco Products Company (United States)
- Reynolds Group Holdings Limited (New Zealand)
- Graphic Packaging Holding Company (United States)
- International Paper Company (United States)
- Sidel (France)
- Clondalkin Group (Netherlands)
- Evergreen Packaging (United States)
- Coveris Holdings S.A. (Luxembourg
- Bemis Company, Inc. (US)
- BASF SE (Germany)
Sustainable Packaging Market Recent Developments
- In July 2024, Mondi announced the launch of its new FlexiBag Reinforced product geared towards the pet food industry. The new solution has enhanced mechanical properties and is fully recyclable to comply with modern sustainability mandates and preferences.
- In April 2023, Huhtamaki Oyj, a Finnish leader in the packaging space, announced the launch of its new sustainable flexible packaging technology. With this new technology launch the company intends to improve its market share in the global sustainable packaging landscape.
- In March 2023, Electrolux, a leading supplier of appliances announced the launch of its new sustainable packaging solutions. Made from recycled and eco-friendly materials, these solutions use around 70% less ink.
Sustainable Packaging Key Market Trends
- Novel Sustainable Packaging Materials: Sustainable packaging companies should focus on experimenting with new sustainable packaging materials to stand out from the competition and maximize their sales. Imposition of stringent mandates to regulate waste from packaging will bolster the demand for better sustainable and eco-friendly materials in the future. Plant-based, biodegradable, compostable, and recyclable materials will be in demand.
- Smart Packaging Development: Sustainable packaging companies can also improve the sustainability of their solutions by incorporating smart technologies. Sustainable packaging providers can also capitalize on the growing popularity of active and smart packaging technologies from different industry verticals going forward.
Sustainable Packaging Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest analysis, rising consumer awareness regarding the benefits of eco-friendly packaging solutions around the world is slated to primarily augment the demand for sustainable packaging across the forecast period. However, supply chain disruptions and lack of awareness are slated to impede sustainable packaging market growth potential going forward. The Asia Pacific region is slated to emerge as the fastest-expanding market for sustainable packaging companies owing to booming e-commerce activity and changing consumer preferences in this region. Incorporation of smart and active packaging technologies will create new opportunities for sustainable packaging companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 269.90 billion |
| Market size value in 2031 | USD 530.61 billion |
| Growth Rate | 7.8% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Sustainable Packaging Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Sustainable Packaging Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Sustainable Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Sustainable Packaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Sustainable Packaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Sustainable Packaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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