Sustainable Packaging Market

The global Sustainable Packaging Market is expected to reach USD 469.49 Billion by 2027, according to a new report by Emergen Research. The sector is anticipated to grow as a result of severe limitations on the use of single-use plastics and growing consumer awareness of sustainable packaging. The business is expected to expand steadily because of the expanding food and beverage sector, which is using packaging made of recyclable and biodegradable materials more and more. The foodservice business is switching to goods manufactured from paper or compostable substitutes for single-use plastic straws, lids, closures, caps, cups, and food trays. Because of shifting consumer tastes toward packaged foods and convenience, the foodservice industry will continue to see an increase in product demand.

The supply chain and raw material supplies have been disrupted by the pandemic. People may reduce their food expenditures in response to the financial crisis, which could have a negative impact on the food demand business. Since the demand for food is inelastic, this will ultimately benefit the market. Due to the COVID-19, producers in the sustainable packaging sector are adopting safety policies, which could lead to an increase in the sector’s growth throughout the forecast period.

The global Sustainable packaging market report offers extensive knowledge and information about the sustainable packaging market pertaining to market size, market share, growth influencing factors, opportunities, and current and emerging trends. The report is formulated with the updated and latest information of the global sustainable packaging market further validated and verified by the industry experts and professionals.

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The market in the United States is anticipated to expand quickly in the coming years as a result of an expanding consumer base that places a high value on the packaging of consumer goods, foods, and beverages. Manufacturers in the region are modifying their products to better suit changing consumer preferences and the environment. Many significant companies in the consumer products sector, such as Unilever and Procter & Gamble, have begun utilising post-consumer recycled plastics in their packaging solutions in order to further their environmental objectives. Hindustan Unilever Limited, a Unilever company, has made the commitment to convert from commodity polymers to performance-based polymers by the year

The COVID-19 impact:

The COVID-19 pandemic could in no way jeopardize industry growth. Key market players are skeptical about the future of the industry and seek to build ways to aid in this challenging situation. The industry had a major effect on the pandemic, and numerous large plants had to interrupt their production and other activities. The normal lockout in various parts of the country makes for a shortage of capital. Contributing to major deterioration of domestic demand were trade, exports, and imports from abroad in COVID-19.

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The report, additionally, offers a comprehensive swot analysis and porter’s five forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report aims to offer the readers a holistic understanding of the relevant features of the industry.

Key players profiled in the report are:

Amcor Limited, Mondi PLC, Smurfit Kappa Group, Sonoco Products Co., WestRock Company, BASF SE, Tetra Laval International S.A., Ball Corporation, Sealed Air Condition, and Bemis Company, among others.

Furthermore, the report provides a comprehensive overview of the sustainable packaging market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.

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Further key findisustainable packaging market from the report suggest

The Paper and Paper board segment holds a significant share in the market due to its decomposing property. Companies are embracing more eco-friendly and bio-degradable packaging materials that can be recycled, renewed, and reused, which is boosting the sales of the industry. Moreover, consumers have become more aware of environmental issues and are shifting their preferences towards more convenient and affordable packaging like paper or paper boards.

The food & beverage segment is the major end-user of the market. An increasing number of restaurants and diners are boosting the sales of the products. Following the Food & Beverage segment, the HealthCare sector is also experiencing significant growth over the forecast period as an increased amount of pharmaceuticals materials are transported with the packaging materials’ help.

Asia-Pacific has the highest adoption rate in the market due to the high level of awareness among consumers regarding the harmful effects of toxic packaging material. Moreover, the initiatives taken by the authorities of several countries in the region to ban the low-grade polythene and encourage the use of eco-friendly packaging are driving the market in the region

Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the sustainable packaging market expected to boost the growth of the industry in the coming years.

Emergen Research has segmented the global Sustainable Packaging Market on the basis of Materials, packaging type, end-users, and region:

Material Outlook (Revenue, USD Billion; 2017-2027)

Plastic

Paper & Paperboard

Glass

Metal

Others

Packaging Type Outlook (Revenue, USD Billion; 2017-2027)

Reusable Packaging

Recyclable Packaging

Degradable Packaging

End Users Outlook (Revenue, USD Billion; 2017-2027)

HealthCare

Food & Beverage

Personal Care

Others

Key questions answered in the report:

What is the growth rate of the sustainable packaging market ? Who are the prominent players operating in the market? What are the key strategies adopted by these companies?

What are the key opportunities and growth prospects of the sustainable packaging market industry over the forecast period?

Which region is expected to show significant growth in the coming years?

What is the anticipated market valuation of sustainable packaging market industry by 2027?

What are the key growth driving and restraining factors of the sustainable packaging market ?

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