The global sustainable plastic packaging market size is projected to grow from USD 89.0 billion in 2020 to USD 117.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.6% during the forecast year.
The sustainable plastic packaging industry has been growing as a result of stringent laws and regulations levied by governments and governing bodies, as well as a shift in consumer preference toward recyclable and eco-friendly packaging materials. Apart from these factors, downsizing of packaging and breakthrough in new technologies are also driving the sustainable plastic packaging market globally. However, the high cost of recycling and poor infrastructure available for recycling processes are likely to hamper the growth of this market.
In terms of value and volume, the biodegradable segment is estimated to be the fastest-growing process in the sustainable plastic packaging market between 2020 and 2025.
Biodegradable plastic decomposes naturally in the environment. This is achieved when microorganisms in the environment metabolize and break down the structure of biodegradable plastic. It is less harmful to the environment than traditional plastics. Biodegradable plastics can be composed of bioplastics manufactured from renewable raw materials. Innovation plays a key role in the biodegradable plastic packaging market. Several companies are investing in R&D in search of new packaging materials that are beneficial in use and non-toxic to the environment.
The food & beverage segment was the largest end-use sector in the sustainable plastic packaging market in 2019.
The food & beverage industry is a major one in the sustainable packaging market. The primary function of food & beverage packaging is to reduce food loss and increase the shelf-life of food products. Global players are aiming at using innovative packaging materials developed from degradable and recyclable materials in order to achieve sustainability. Consumers seek convenience food solutions due to lack of time. The expectations of food quality, hygiene, and growing health awareness are driving the sustainable plastic packaging market in the food & beverage sector.
APAC is projected to account for the largest share in the sustainable plastic packaging market during the forecast period.
APAC is projected to lead the sustainable plastic packaging market, in terms of both value and volume, between 2020 and 2025. According to the World Bank, in 2017, APAC was the fastest-growing region in terms of both population and economic growth. Countries such as India and China are expected to post high growth in the sustainable plastic packaging market due to growing developmental activities and rapid economic expansion. The growing population in these countries presents a huge customer base for FMCG products and consumer durables.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Attractive Opportunities in the Sustainable Plastic Packaging Market 4.2 Sustainable Plastic Packaging Market, by Packaging Type and Country 4.3 Sustainable Plastic Packaging Market, by Country
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 184.108.40.206 Government Initiatives Toward Sustainable Packaging 220.127.116.11 Shift in Consumer Preference Toward Recyclable and Eco-Friendly Materials 18.104.22.168 Downsizing of Packaging 22.214.171.124 Breakthrough in New Technologies and Innovations 5.2.2 Restraints 126.96.36.199 Poor Infrastructure Facilities for Recycling 188.8.131.52 Lack of Awareness About the Importance of Sustainability in Some Emerging Economies 184.108.40.206 Packaging Shifting Toward Non-Plastic Solutions 5.2.3 Opportunities 220.127.116.11 Growth of the E-Commerce Industry 5.2.4 Challenges 18.104.22.168 Fluctuations in Raw Material Prices
7 Sustainable Plastic Packaging Market, by Packaging Format 7.1 Introduction 7.2 Primary 7.3 Secondary 7.4 Tertiary
8 Sustainable Plastic Packaging Market, by Process 8.1 Introduction 8.2 Recyclable 8.3 Reusable 8.4 Biodegradable
9 Sustainable Plastic Packaging Market, by End-Use Sector 9.1 Introduction 9.2 Food & Beverages 9.3 Personal Care 9.4 Healthcare 9.5 Other End-Use Sectors
10 Sustainable Plastic Packaging Market, by Region 10.1 Introduction 10.2 APAC 10.2.1 China 10.2.1.1 Food Processing Industry to Significantly Impact Market Growth 10.2.2 Japan 10.2.2.1 Recycling of Plastic Waste to Drive the Market 10.2.3 India 10.2.3.1 Highest Plastic Recycling Rate (60%) in the World 10.2.4 Australia 10.2.4.1 Government's Initiative for Circular Economy for Plastics 10.2.5 Rest of APAC 10.3 Europe 10.3.1 Germany 10.3.1.1 Greater Consumer Awareness About Sustainable Products 10.3.2 UK 10.3.2.1 High Investments and Stringent Regulations to Boost Market Growth 10.3.3 France 10.3.3.1 Need for Effective and Innovative Packaging to Drive the Market 10.3.4 Russia 10.3.4.1 Increasing Number of Integrated Packaging Manufacturers to Support the Market Growth 10.3.5 Spain 10.3.5.1 Macroeconomic Factors to Have Positive Impacts on the Market 10.3.6 Rest of Europe 10.4 North America 10.4.1 US 10.4.1.1 Rising Demand for Environmentally Friendly and Recyclable Goods 10.4.2 Canada 10.4.2.1 Demand for Greener Products and Reduced Packaging to Drive the Market 10.4.3 Mexico 10.4.3.1 Gradual Economic Recovery Likely to Influence the Market 10.5 Middle East & Africa 10.5.1 Uae 10.5.1.1 Efforts Being Taken to Eliminate the Use of Avoidable Single-Use Plastic 10.5.2 Saudi Arabia 10.5.2.1 Healthcare to Be the Fastest-Growing End-Use Sector 10.5.3 South Africa 10.5.3.1 Growing Food & Beverage Industry to Support the Market Growth 10.5.4 Rest of Middle East & Africa 10.6 South America 10.6.1 Brazil 10.6.1.1 the Most Important Packaging Market in South America 10.6.2 Argentina 10.6.2.1 Expansion in the End-Use Industries to Propel Market Growth 10.6.3 Rest of South America
11 Competitive Landscape 11.1 Overview 11.2 Micro Quadrant for Sustainable Plastic Packaging Manufacturers 11.3 Sustainable Plastic Packaging Market (Global) Competitive Leadership Mapping 11.3.1 Strength of Product Portfolio of Major Companies 11.3.2 Business Strategy Excellence of Major Companies 11.2 Competitive Scenario 11.2.1 Mergers & Acquisitions 11.2.2 Expansions & Investments 11.2.3 Partnerships & Joint Ventures 11.2.4 New Product Developments
12 Company Profiles 12.1 Amcor plc 12.1.1 Business Overview 12.1.2 Financial Assessment 12.1.3 Operational Assessment 12.1.4 Products Offered 12.1.5 Recent Developments 12.1.6 SWOT Analysis 12.1.7 Current Focus and Strategies 12.1.8 Amcor's Right to Win 12.2 Sonoco Products Company 12.2.1 Business Overview 12.2.2 Financial Assessment 12.2.3 Operational Assessment 12.2.4 Products Offered 12.2.5 Recent Developments 12.2.6 SWOT Analysis 12.2.7 Current Focus and Strategies 12.2.8 Sonoco Products Company's Right to Win 12.3 Sealed Air Corporation 12.3.1 Business Overview 12.3.2 Financial Assessment 12.3.3 Operational Assessment 12.3.4 Products Offered 12.3.5 Recent Developments 12.3.3 SWOT Analysis 12.3.4 Current Focus and Strategies 12.3.5 Sealed Air Corporation's Right to Win 12.4 Huhtamaki Oyj 12.4.1 Business Overview 12.4.2 Financial Assessment 12.4.3 Operational Assessment 12.4.4 Products & Services Offered 12.4.5 Recent Developments 12.4.6 SWOT Analysis 12.4.7 Current Focus and Strategies 12.4.8 Huhtamaki's Right to Win 12.5 Berry Global Group Inc. 12.5.1 Business Overview 12.5.2 Financial Assessment 12.5.3 Operational Assessment 12.5.4 Products Offered 12.5.5 Recent Developments 12.5.6 SWOT Analysis 12.5.7 Current Focus and Strategies 12.5.8 Berry Global's Right to Win 12.6 Smurfit Kappa 12.6.1 Business Overview 12.6.2 Financial Assessment 12.6.3 Operational Assessment 12.6.4 Products Offered 12.6.5 Recent Developments 12.6.6 SWOT Analysis 12.6.7 Current Focus and Strategies 12.6.8 Smurfit Kappa's Right to Win 12.7 Mondi plc 12.7.1 Business Overview 12.7.2 Financial Assessment 12.7.3 Operational Assessment 12.7.4 Products Offered 12.7.5 Recent Developments 12.7.6 Mondi's Right to Win 12.8 Uflex Ltd. 12.8.1 Business Overview 12.8.2 Products Offered 12.8.3 Recent Developments 12.8.4 Uflex's Right to Win 12.9 Constantia Flexibles 12.9.1 Business Overview 12.9.2 Products Offered 12.9.3 Recent Developments 12.9.4 Constantia Flexibles Group's Right to Win 12.10.1 Business Overview 12.10.2 Products Offered 12.10.3 Aptargroup's Right to Win
13 Additional Company Profiles 13.1 Genpak LLC 13.2 Plastic Suppliers Inc. 13.3 Natureworks LLC 13.4 Phoenix Technologies International LLC 13.5 Novamont S.P.A 13.6 Innovia Films 13.7 Essel Propack 13.8 Gerresheimer AG 13.9 Tetra Laval 13.1 Reynolds Packaging