Consumers' growing environmental concern and the rise in consumer demand for the use of eco-friendly packaging for organic foods drive the growth of the global sustainable packaging market. Region-wise, the market in Asia-Pacific is likely to dominate in terms of revenue and grow at the fastest CAGR during the forecast period 2022 to 2031. By end use, the food and beverage segment captured the largest market share in 2021.

Portland, OR, March 23, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global sustainable packaging market generated $93.6 billion in 2021, and is estimated to reach $190.6 billion by 2031, witnessing a CAGR of 7.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market. 

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Report Coverage & Details: 

Report Coverage	Details
Forecast Period	2022–2031
Base Year	2021
Market Size in 2021	$93.6 Billion
Market Size in 2031	$190.6 Billion
CAGR	7.4%
No. of Pages in Report	347
Segments Covered	Material Type, Packaging Type, End Use and Region
Drivers	Consumers' growing environmental concern
	The rise in consumer demand for the use of eco-friendly packaging for organic foods
Opportunities	Increase in focus on developing bio-based PVC by players
	Development of novel technologies to integrate into sustainable plastic packaging
Restraints	As non-biodegradable plastic bags are considered the best packaging material around the world and cost less, packaging companies cannot balance sales volume and production capacity

Covid-19 Scenario: 

• The outbreak of the COVID-19 pandemic had a moderate impact on the sustainable packaging market. The lockdown imposed by governments across nations caused the production of sustainable packaging products to halt. However, the market showed significant growth after the relaxation of lockdown. 
• However, the market witnessed some growth due to the consumption of sustainable packaging products in different end-use industries, including food & beverage, healthcare, cosmetics & personal care, and e-commerce. There was an increase in use of flexible, rigid plastics, and corrugated packaging during the pandemic. An inclination towards the growth of sustainable packaging products in the healthcare sector, including flexible blister foils, pumps, closures and rigid plastics was observed. 
• Moreover, the packaging used in dietary supplements, such as vitamins and essential supplies boosted the market growth. 

The report offers a detailed segmentation of the global sustainable packaging market based on material type, packaging type, end use and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years. 

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Based on material type, the paper and paperboard segment held the largest share in 2021, accounting for more than two-fifths of the global sustainable packaging market and would dominate the market in terms of revenue through 2031. The others segment, on the other hand, is estimated to witness the fastest CAGR of 8.2% during the forecast period. The report also discusses the plastics and aluminum segments. 

In terms of packaging type, the rigid packaging segment captured the largest market share of nearly three-fifths of the global sustainable packaging market in 2021. Moreover, the same segment is expected to dominate in terms of revenue during the forecast period. However, the flexible packaging segment is likely to achieve the fastest CAGR of 7.6% through 2031. The report also discusses the sugared sustainable packaging segment. 

In terms of end use, the food and beverage segment captured the largest market share of nearly two-thirds of the global sustainable packaging market in 2021 and is expected to lead the trail during the forecast period. However, the healthcare and pharmaceuticals segment is likely to achieve the fastest CAGR of 8.3% through 2031. The report also studies the personal care and others segments. 

Based on region, the market in Asia-Pacific was the largest in 2021, accounting for over two-fifths of the global sustainable packaging market in 2021 and is likely to maintain its dominance during the forecast period. Moreover, the same market is expected to manifest the highest CAGR of 7.8% from 2022 to 2031. The other regions analyzed in the study include North America, Europe, and LAMEA. 

Leading players of the global sustainable packaging market analyzed in the research include Amcor plc, Ardagh Group S.A., Ball Corporation, BASF SE, Crown Holdings, Inc., DS Smith Plc, Elopak AS, Emerald Packaging, Mondi Plc, Nampak Ltd., Plastipak Holdings, Inc., Sealed Air Corporation, SGF Packaging Co., Ltd., Smurfit Kappa Group Plc, Sonoco Products Company, Tetra Pak, and WestRock Company. 

The report analyzes these key players of the global sustainable packaging market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player. 

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. 

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. 

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