Growing Initiatives to Reduce Greenhouse Effect Will Boost Demand for Sustainable Packaging, Market to Grow at 5.3% during 2018-2026: TMR

• Major players in the sustainable packaging market are concentrating on research activities to develop environmental- friendly packaging solutions.
• Europe is one of the prominent regions in market. This aside, government bodies of many regions including Asia Pacific are taking initiatives to promote the use of environmental friendly products and reduce greenhouse effect.

ALBANY, N.Y., Sept. 8, 2020 /PRNewswire/ -- In recent period, the world is witnessing remarkable adverse effects such as increased levels of greenhouse gases. Key reason for this situation is growing urbanization as well as industrialization. Owing to growing awareness about this fact, major companies from all across the world today are inclined toward use of sustainable packaging systems. This factor will drive the growth of the global sustainable packaging market in the tenure of 2018–2026.

Analysts at TMR underline that the sustainable packaging market will grow at a CAGR of approximately 5.3% in the tenure of 2018–2026. Major market players will focus on development of environmentally friendly products.

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Key Findings of Sustainable Packaging Market Report

• The sustainable packaging market is all set to show growth at a CAGR of about 5.3% in the forecast period of 2018 to 2026.
• Among all material types, paper & paperboard segment is projected to show dominance in this period.
• The above-mentioned market segment was expected to hold share of approximately 55.1% in 2018.
• Another segment plastic is foreseen to show growth at a CAGR of 5% in tenure of 2018–2026.
• Sub-segment PLA from plastic segment will show prominent growth and will create incremental opportunity of US$ 10.2 Bn in the forecast period.
• Metal (aluminum) segment was projected to touch the value of valuation of US$ 33.3 Bn in 2018.
• The value of abovementioned segment is expected to touch approximately 52.1 Bn by 2028 end.
• Other segment will show expansion at a CAGR of around 4.6% during tenure of 2018–2026.
• Geographically, Europe is foreseen to contribute largest share of the sustainable packaging market during the forecast period.

Explore 279 pages of top-notch research, incisive insights, and detailed country-level projections on Sustainable Packaging Market (Packaging Type - Trays, Bags, Boxes, Bottles & Jars, Films, Pouches & Sachets, Drums, IBC, and Others; Material - Paper & Paperboard, Plastic, Metal (Aluminum), Others; End Use Industry - Food, Beverages, Automobile & Electronics, Chemical, Pharmaceutical, Agriculture, Cosmetics & Personal Care) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026 at https://www.transparencymarketresearch.com/sustainable-packaging-market.html

Sustainable Packaging Market: Key Driving Factors and Promising Avenues

Millennial population today is aware about the concerns of the greenhouse effect. As a result, they are consciously preferring the use of products that are environmental friendly. This factor is generating demand avenues in the global sustainable packaging market.

Major players in the sustainable packaging market are concentrating on the use of plant-based and biodegradable plastics in place of conventional plastics.

Government bodies of several geographical regions are showing more concern regarding the mounting levels of packaging waste. Thus, they are promoting use of biodegradable and bio plastics for packaging purposes. This factor is fueling the growth of the growth of the sustainable packaging market.

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Sustainable Packaging Market: Competitive Assessment

Gamut of players in the global sustainable packaging market are focused on fulfilling the rising need of green packaging. Similarly, they are concentrating on the use of environmental friendly raw materials in their production process.

Several companies operating in the sustainable packaging market are growing spending on research activities. Through this move, they intend to help in reduction of carbon emission footprints. As a result, they are looking for the development of biodegradable plastics through these research activities. This factor will impact positively on the expansion of the global sustainable packaging market in the forthcoming years.

Important companies working in the global sustainable packaging market are Amcor Limited, Gerresheimer AG, Sonoco Products Company, Ball Corporation, Smurfit Kappa Group PLC, Crown Holdings, Inc., and Tetra Laval International S.A.

Analyze global sustainable packaging market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study

The Sustainable Packaging Market can be segmented as follows:

Packaging Type

• Trays
• Bags
• Boxes
• Bottles & Jars
• Films
• Pouches & Sachets
• Drums
• IBC
• Others

Material

• Paper & Paperboard
• Coated Unbleached
• Bleach Paperboard
• Molded Fiber pulp
• Corrugated Board
• Plastic
• PLA
• PHB
• PBS
• Starch Based Plastics
• PHA
• Others (PCL)
• Metal (Aluminum)
• Others

End Use   

• Food
• Bakery & Confectionery
• Diary
• Meat & Poultry
• Beverages
• Carbonated
• Non- Carbonated
• Automobile & Electronics
• Chemical
• Pharmaceutical
• Agriculture
• Cosmetics & Personal Care

Region

• North America
• Latin America
• Europe
• Asia Pacific (APAC)
• Middle East & Africa (MEA)

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Explore Transparency Market Research's award-winning coverage of the Global Packaging Industry:

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