Sustainable Packaging Market is Dazzling Worldwide with Latest Rising Trends

Sustainable Packaging Market Trends

Sustainable Packaging Market Trends

Growing use of sustainable packaging in various industries including healthcare, pharmaceuticals, automobile, nutraceuticals, and fashion.

Increase in plastic pollution, the growing use of sustainable packaging in various industries, and the ability of sustainable packaging to preserve a product's shelf life drive the market growth. ”
— David Correa

WILMINGTON, DELAWARE, UNITED STATES, April 19, 2024 / -- Allied Market Research recently released a report titled "Sustainable Packaging Market by Material Type, Packaging Type, End Use: Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global sustainable packaging industry generated $93.6 billion in 2021 and is estimated to reach $190.6 billion by 2031, with a Compound Annual Growth Rate (CAGR) of 7.4% from 2022 to 2031. The report provides an in-depth analysis of market trends, key segments, investment opportunities, value chain, regional landscape, and competitive scenario.

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Key Highlights:

Market Drivers, Restraints, and Opportunities:

- Benefits offered by sustainable packaging products such as strength, transparency, insulation, and water resistance are driving market growth.
- Growing use of sustainable packaging in various industries including healthcare, pharmaceuticals, automobile, nutraceuticals, and fashion.
- Increase in plastic pollution globally is fueling demand for sustainable alternatives.
- Adoption of sustainable packaging in modern agricultural practices to improve productivity.
- High cost of raw materials poses a challenge to market growth.
- High demand from end-use industries and advancements in research and development present growth opportunities.

COVID-19 Impact:

- The pandemic initially halted production of sustainable packaging products due to lockdown measures.
However, the market regained traction post-lockdowns, driven by extensive use of sustainable packaging in industries such as food & beverage, healthcare, cosmetics & personal care, and e-commerce.
- Increased demand for food packaging due to heightened awareness regarding hygiene.
- Rigid packaging saw high demand for e-commerce and grocery deliveries during the pandemic.

Market Segmentation:

- The paper and paperboard segment dominated the market in 2021 and is expected to maintain its leadership, driven by recyclability and low environmental impact.
- The others segment, including glass, is projected to witness the fastest growth due to its advantages such as transparency, recyclability, and sustainability.
- Rigid packaging held the largest market share in 2021, while the flexible packaging segment is expected to witness the highest growth rate.

Regional Analysis:

Asia-Pacific was the largest market in 2021 and is expected to maintain its dominance, with the fastest growth rate during the forecast period.
Urbanization and presence of large manufacturing industries in the region are driving market growth.

Leading Players:

The report analyzes key players in the global sustainable packaging market, including Amcor plc, Ardagh Group S.A., Ball Corporation, BASF SE, Crown Holdings, Inc., DS Smith plc, and others. These players have adopted various strategies such as expansion, new product launches, and partnerships to strengthen their market position.

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About Us

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.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. 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. 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.

David Correa
Allied Market Research
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