Sustainable packaging refers to the use of materials and design strategies that minimize the environmental impact of packaging throughout its lifecycle.
OREGON, PORTLAND, UNITED STATES, August 8, 2023/EINPresswire.com/ — The rigid packaging segment held the largest market share of nearly three-fifths of the global sustainable packaging market in 2021. Rigid packaging is used in a wide range of products, including food, medicine, electronics, toys, personal care items, office supplies, tools, and others. Moreover, it is highly impact-resistant and affordable. However, the flexible packaging segment is expected to maintain its dominance and is projected to witness the largest CAGR of 7.6% from 2022 to 2031. Rapid change in lifestyles has surged the demand for convenient products where bioplastics are widely used for flexible packaging applications.
𝐖𝐚𝐧𝐭 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚 𝐚𝐧𝐝 𝐆𝐫𝐚𝐩𝐡𝐬, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬’ 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: https://www.alliedmarketresearch.com/sustainable-packaging-market/purchase-options
Sustainable packaging refers to the use of materials and design strategies that minimize the environmental impact of packaging throughout its lifecycle, from production and transportation to use and disposal. The goal of sustainable packaging is to reduce resource consumption, minimize waste generation, and promote ecological balance.
The paper and paperboard segment was the largest market in 2021, contributing to more than two-fifths of the global sustainable packaging market share, and is expected to maintain its leadership status during the forecast period. This is because paper and paperboard materials are more recyclable, biodegradable and non-toxic as compared to other materials and have low environmental impact. On the other hand, the others segment is projected to witness the fastest CAGR of 8.2% from 2022 to 2031. This segment includes glass which is used in a wide range of items, including packaging, dinnerware, and homes & structures.
Sustainable packaging is not only about reducing environmental impact but can also offer businesses benefits such as improved brand image, reduced costs, and increased customer loyalty. As consumers become more environmentally conscious, the demand for sustainable packaging continues to grow, driving innovation and positive changes in the packaging industry.
Asia-Pacific was the largest market in 2021, capturing more than two-fifths of the global sustainable packaging market share, and is expected to lead the trail during the forecast period. The same segment is projected to manifest the fastest CAGR of 7.8% during the forecast period. Rise in urbanization has favored the growth of the sustainable packaging market in the Asia-Pacific region. Also, the presence of large manufacturing industries
The sustainable packaging market had been experiencing significant growth and was expected to continue expanding in the coming years. The increasing awareness of environmental issues and the push for more eco-friendly solutions had driven businesses and consumers alike to seek sustainable packaging alternatives
Benefits offered by sustainable packaging products such as strength, transparency, insulation and water resistance, the growing use of sustainable packaging in industries such as healthcare, pharmaceutical, automobile, nutraceuticals, and fashion, increase in plastic pollution globally, employment of a wide range of sustainable packaging products by modern agricultural practices to help improve productivity, and the ability of sustainable packaging to preserve a product’s shelf life drive the growth of the global sustainable packaging market.
𝐏𝐚𝐜𝐤𝐚𝐠𝐢𝐧𝐠 𝐃𝐞𝐬𝐢𝐠𝐧 𝐚𝐧𝐝 𝐁𝐫𝐚𝐧𝐝𝐢𝐧𝐠: Sustainable packaging was becoming a way for brands to differentiate themselves and create a positive image among environmentally conscious consumers.
𝐆𝐥𝐨𝐛𝐚𝐥 𝐒𝐮𝐩𝐩𝐥𝐲 𝐂𝐡𝐚𝐢𝐧 𝐂𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬: The sustainable packaging market was influenced by global supply chain dynamics, including the availability of raw materials and the capacity for recycling infrastructure.
𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐚𝐧𝐝 𝐅𝐮𝐧𝐝𝐢𝐧𝐠: There was a growing interest from investors in companies that were innovating in the sustainable packaging space. Startups and established players were securing funding to develop and scale their sustainable packaging solutions.
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, 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 chain, regional landscape, and competitive scenario.
Sustainable packaging became a way for companies to differentiate themselves and connect with environmentally conscious consumers. Brands that embraced sustainable packaging often saw improved brand image and increased customer loyalty.
𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
– Amcor plc
– Ardagh Group S.A.
– Ball Corporation
– BASF SE
-Crown Holdings, Inc.
– DS Smith plc
– Elopak AS
– Emerald Packaging, Inc.
– Mondi plc
– Nampak Ltd.
– Plastipak Holdings, Inc.
– Sealed Air Corporation
– SGF Packaging Co., Ltd.
– Smurfit Kappa Group plc
– Sonoco Products Company
– Tetra Pak
– WestRock Company
𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐰𝐢𝐭𝐡 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/request-for-customization/17613
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