Global Sustainable Packaging Market Projected To Reach $391.1 Billion By 2029, Stimulated By Evolving Environmental Concerns

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Sept. 11, 2024 (GLOBE NEWSWIRE) -- The "Sustainable Packaging: Global Markets" report has been added to ResearchAndMarkets.com's offering.

The global market for sustainable packaging is estimated to increase from $278.1 billion in 2023 to reach $391.1 billion by 2029, at a compound annual growth rate (CAGR) of 6% from 2024 through 2029.

The European market for sustainable packaging is estimated to increase from $111.6 billion in 2023 to reach $163.3 billion by 2029, at a CAGR of 6.8% from 2024 through 2029.

The Asia-Pacific market for sustainable packaging is estimated to increase from $78.6 billion in 2023 to reach $111.9 billion by 2029, at a CAGR of 6.2% from 2024 through 2029.

This report analyzes the global sustainable packaging market, segmenting it based on material, process, and end-user. Materials include paper, plastic, metal, and others (such as glass, wood, and textile). The paper-based packaging segment is further divided into corrugated/cardboard, boxboard/carton board, and flexible paper. Plastic-based packaging is divided into flexible and rigid packaging.

In the fashion industry, around 150 billion plastic packaging bags are used annually, most of which end up in landfills. In 2023, the global volume of flexible packaging reached 29.9 million tons. (Tipa Ltd, 2024, What Is Sustainable Packaging?). With the surge in online shopping and e-commerce deliveries, the demand for high-performance packaging is more critical. Sustainable packaging addresses this major pollution source and meets consumer demands for environmental responsibility. By moving away from conventional plastics, businesses can reduce their carbon footprint, decrease landfill waste, and contribute to a healthier planet. Compostable food packaging supports a circular economy, ensuring materials are reused for as long as possible and eventually decompose into nutrient-rich soil.

Governments worldwide are encouraging the use of green packaging. Countries like Ireland, Italy, and Japan offer tax exemptions for compostable packaging, while the U.K. imposes higher taxes on packaging with less than 30% recycled materials. The U.K.'s Extended Producer Responsibility (EPR) schemes hold producers and retailers accountable for the end-of-life of their packaging, taxing hard-to-recycle plastics and exempting sustainable packaging. (GWP Group, 2024, A beginners guide to the Plastic Packaging Tax).

The report includes:

• 54 data tables and 49 additional tables
• An overview of the global market for sustainable packaging
• Analyses of the global market trends, with data from 2021-2023, estimates for 2024, and projections of compound annual growth rates (CAGRs) through 2029
• Evaluation of the market potential for sustainable packaging materials, based on material, process, end use, region and country
• Coverage of the latest technological developments in the industry
• Discussion of environmental issues concerning the use of plastic packaging material, the production of eco-friendly material packaging for food and beverages and consumer goods industries and the stringent government regulation of packaging materials
• Overview of the sustainability trends and ESG developments in the industry, with emphasis on the ESG practices followed by leading companies, their ESG ratings, and consumer attitudes
• Competitive intelligence, including companies' market shares, recent M&A activity and venture funding
• Company profiles of major players within the industry, including Amcor, Berry Global, International Paper, Smurfit Westrock, and Sealed Air

Key Attributes:

Report Attribute	Details
No. of Pages	141
Forecast Period	2024 - 2029
Estimated Market Value (USD) in 2024	$278.1 Billion
Forecasted Market Value (USD) by 2029	$391.1 Billion
Compound Annual Growth Rate	6.0%
Regions Covered	Global

Key Topics Covered:

Chapter 1 Executive Summary

• Market Outlook
• Scope of Report
• Market Summary

Chapter 2 Market Overview

• Packaging Industry
• Definition: Sustainable Packaging
• Packaging Waste
• Supply Chain Analysis
• Feedstock
• Sustainable Packaging
• Distribution and Logistics
• Consumers
• Porter's Five Forces Analysis

Chapter 3 Market Dynamics

• Market Drivers
  • Increase in Recyclability of Paper and Paper Packaging
  • High Demand for Recycled Material-Based Packaging
  • Growth in Reusable Packaging to Achieve Efficiency and Environmental Goals
• Market Opportunities
  • Importance of Sustainable Packaging in the Healthcare Industry
  • Technology Advances in the Sustainable Packaging Sector
  • Environmental Awareness, Regulatory Pressures, and Circular Economy Initiatives Regarding Reusable Packaging
• Market Challenges
  • Low Plastic Recycling Rate
  • Lower Cost of Single-Use Plastic Compared to Sustainable Materials

Chapter 4 Regulatory Landscape

Chapter 5 Emerging Technologies

• Advances in Bioplastic Packaging
• Recycling Technology
• Plastic Recycling Technology
• Paper Recycling Technologies
• Metal Recycling Technologies
• Glass Recycling Technologies

Chapter 6 Market Segmentation Analysis

• By Material
  • Paper
  • Plastics
  • Metal
  • Other Materials
• By Process
  • Recycled Packaging
  • Reusable Packaging
  • Biodegradable and Bio-Based Packaging
• By End User
  • Food and Beverage
  • Industrial and Chemical
  • Healthcare
  • Personal and Home Care
  • Other End Users
• Geographic Breakdown
  
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World

Chapter 7 Competitive Landscape

• Market Competitiveness
• Market Player Positioning
• Market Player Positioning Analysis
• Strategic Analysis
• Merger and Acquisition Analysis

Chapter 8 Sustainability in Sustainable Packaging Industry: An ESG Perspective

• Importance of ESG in the Sustainable Packaging Industry
• ESG Practices in the Sustainable Packaging Industry
• Emerging Sustainability Trends
• Concluding Remarks

Chapter 10 Company Profiles

• 3M
• Amcor
• Ardagh Group
• Ball Corp.
• Berry Global Inc.
• DuPont
• Huhtamaki
• International Paper
• Mondi
• NatureWorks LLC.
• Plastipak Holdings Inc.
• Sonoco Products Co.
• Stoelzle Glass Group
• Smurfit Westrock
• Sealed Air
• Tetra Pak International

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Attachment

• Sustainable Packaging Market

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