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

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.