Worldwide Sustainable Packaging Industry to 2026 - Government Initiatives Towards Sustainable Packaging are Driving Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Sustainable Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The sustainable packaging market is expected to grow at a CAGR of 9.25% over the forecast period (2021-2026). The low recycling rates in the US and Europe are set to drive the demand for sustainable packaging in the future. The US recycled 35% of their waste in 2019, while Europe recycled 42% in 2017.

Companies Mentioned

• Amcor Limited
• Westrock Company
• TetraPak International S.A.
• Sonoco Products Company
• Smurfit Kappa Group PLC
• Sealed Air Corporation
• Mondi PLC
• Huhtamaki OYJ
• BASF SE
• Ardagh Group S.A
• Ball Corporation
• Crown Holdings, Inc.
• DS Smith Plc
• Genpak LLC
• International Paper Company

Key Market Trends

Shift in Consumer Preferences Towards Recyclable and Eco-Friendly Materials

• According to a study by the Ellen MacArthur Foundation, around 8 million ton of plastic waste ends up in oceans every year, globally. The report also predicts plastic debris will outweigh fish by 2050, unless drastic actions are taken.
• Much of the floating waste collects in several large ocean vortices far from land. It is estimated that 95% of the plastic packaging material is lost to the economy after a short single-use cycle, at a cost of USD 80-120 billion. A sizeable share of the plastic that ends up in oceans takes an even higher toll, in terms of cost and health.
• This is leading to consumers and governments, in many countries, taking action toward recycling environmental wastes. Recently, countries like India (some of the states) have banned the usage of plastic packaging. Similarly, every major supermarket in Britain pledged to eradicate unnecessary single-use plastics by 2025, under the UK Plastics Pact.
• This has resulted in an increased focus on sustainable packaging thereby driving the market growth.

Asia-Pacific Expected To Have Significant Growth

• Asia-Pacific is expected to have significant growth over the forecasted period. The increasing number of manufacturing plants all over the region, combined with the growing consumerism and transit packaging sector in the Asia Pacific, is contributing to the growth of the sustainable packaging market.
• The growing regulations in the Asia-Pacific region are expected to drive the market. In October 2018, the Philippines passed a provincial ordinance that regulates the use of plastic bags for secondary packaging and prohibits the free distribution of plastic bags as primary packaging.
• Moreover, Countries, like China and Japan, are not well equipped to handle and recycle their waste, this has resulted in China having the largest nonrecycled plastic waste in the world. China, in particular, is expected to launch newer initiatives towards adopting more sustainable packaging in the future, resulting in increased demand for sustainable packaging.

 

Key Topics Covered:

 

1 INTRODUCTION

 

2 RESEARCH METHODOLOGY

 

3 EXECUTIVE SUMMARY

 

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Introduction to Market Drivers and Restraints

4.3 Market Drivers

4.3.1 Government Initiatives Towards Sustainable Packaging

4.3.2 Downsizing of Packaging

4.3.3 Shift in Consumer Preferences Towards Recyclable and Eco-Friendly Materials

4.4 Market Restraints

4.4.1 Capacity Constraint of Manufacturing Plats

4.4.2 High Cost of Raw Materials

4.5 Industry Value Chain Analysis

4.6 Industry Attractiveness - Porter's Five Force Analysis

 

5 MARKET SEGMENTATION

5.1 By Process

5.1.1 Reusable Packaging

5.1.2 Degradable Packaging

5.1.3 Recycled Packaging

5.2 By Material Type

5.2.1 Glass

5.2.2 Plastic

5.2.3 Metal

5.2.4 Paper

5.3 By End User

5.3.1 Pharmaceutical and Healthcare

5.3.2 Cosmetics and Personal Care

5.3.3 Food and Beverage

5.3.4 Others

5.4 Geography

5.4.1 North America

5.4.2 Europe

5.4.3 Asia-Pacific

5.4.4 Latin America

5.4.5 Middle East & Africa

 

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 Amcor Limited

6.1.2 Westrock Company

6.1.3 TetraPak International S.A.

6.1.4 Sonoco Products Company

6.1.5 Smurfit Kappa Group PLC

6.1.6 Sealed Air Corporation

6.1.7 Mondi PLC

6.1.8 Huhtamaki OYJ

6.1.9 BASF SE

6.1.10 Ardagh Group S.A

6.1.11 Ball Corporation

6.1.12 Crown Holdings, Inc.

6.1.13 DS Smith Plc

6.1.14 Genpak LLC

6.1.15 International Paper Company

 

7 INVESTMENT ANALYSIS

 

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

 

For more information about this report visit https://www.researchandmarkets.com/r/8t93nc.