Sustainable Plastic Packaging Global Market Size, Trends, And Forecast 2024-2033

Sustainable Plastic Packaging Market Size, Trends, And Forecast 2024-2033

LONDON , GREATER LONDON , UK , September 4, 2024 /EINPresswire.com/ -- The sustainable plastic packaging market has experienced robust growth in recent years, from $107.36 billion in 2023 to $116.35 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to environmental awareness, regulatory pressures, consumer demand, corporate sustainability goals, cost efficiency.

Strong Future Growth Anticipated
The sustainable plastic packaging market is projected to grow strongly, reaching $166.6 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to e-commerce growth, investment in recycling infrastructure, consumer education, sustainable packaging innovations, innovation in sustainable materials.

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Growth Driver Of The Sustainable Plastic Packaging Market
The increase in adoption of sustainable plastic packaging materials from different industries will propel the growth of the sustainable plastic packaging market during the forecast period. Various industries are looking at and promoting sustainable plastic for their packaging solutions because they’re light, inexpensive and are recyclable or reusable. For instance, Unilever, British multinational consumer goods company reduced its plastic from 711,000 tons in 2018 to 599,000 tons in 2021 by around 16%. This high rate of reduction in plastic materials is creating a demand for the adoption of sustainable packaging thereby driving the growth of the sustainable plastic packaging market.

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Major Players And Sustainable Plastic Packaging Market Trends
Key players in the sustainable plastic packaging market include Amcor Ltd., Sonoco Products Company, Huhtamaki OYJ, WestRock Company, Smurfit Kappa Group PLC, Mondi PLC, Tetra Laval International SA.
Major companies in the sustainable plastic packaging market launch are innovating new technological products such as, plastic packaging with recycled material to increase their profitability in the market. Plastic packaging with recycled material is packaging that is made from plastic that has been sourced from recycled materials.

Sustainable Plastic Packaging MarketSegments:
1) By Packaging Type: Rigid, Flexible, Industrial
2) By Packaging Format: Primary Packaging, Secondary Packaging, Tertiary Packaging
3) By Process: Recyclable, Reusable, Biodegradable
4) By End-Use Sector: Food And Beverage, Personal Care, Healthcare, Other End-Use Sectors

Geographical Insights: Asia-Pacific Leading The Sustainable Plastic Packaging Market
Asia-Pacific was the largest region in the sustainable plastic packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the sustainable plastic packaging market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Sustainable Plastic Packaging Market Definition
The sustainable plastic packaging is used to package different kinds of items such as food and beverage, healthcare and others. Sustainable plastic packaging is generally recyclable, reusable, or biodegradable depending on the chemicals used during the manufacturing process making it a preferred choice for organizations due to its lightweight and low cost. It minimizes dependency on fossil fuels, reduces the consumption of natural resources, promotes energy-efficient manufacturing, reduces landfills, and improves ocean cleanliness.

Sustainable Plastic Packaging Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Sustainable Plastic Packaging Global Market Report 2024by The Business Research Company is the most comprehensive report that provides insights on sustainable plastic packaging market size, sustainable plastic packaging market driversand trends, sustainable plastic packaging market major players, sustainable plastic packaging competitors' revenues, sustainable plastic packaging market positioning, and sustainable plastic packaging market growth across geographies. The sustainable plastic packaging market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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