Sustainable Packaging Market Key Features & Benefits

Sustainable Packaging Market Reasearch

Asia-Pacific was the largest market in 2021, capturing more than two-fifths of the global sustainable packaging market share, and is expected to lead the trail.

PORTLAND, OREGON, UNITED STATES, February 13, 2023 /EINPresswire.com/ — Asia-Pacific was the largest market in 2021, capturing more than two-fifths of the global sustainable packaging market share, and is expected to lead the trail during the forecast period. The same segment is projected to manifest the fastest CAGR of 7.8% during the forecast period. Rise in urbanization has favored the growth of the sustainable packaging market in the Asia-Pacific region. Also, the presence of large manufacturing industries, mainly for healthcare, pharmaceutical, and cosmetic drives the growth of the market in the region.

A complete and wide-ranging evaluation of the aspects that drive and restrain the market growth is also provided throughout the study. This detailed exploration of the market size and its proper segmentation help the market players define the prevalent opportunities that are looming large.

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According to the report, the global sustainable packaging industry generated $93.6 billion in 2021, and is estimated to reach $190.6 billion by 2031, witnessing a CAGR of 7.4% from 2022 to 2031.

The report helps clients in comprehending the first-hand knowledge of the global market while providing a full-fledged understanding of the regional-level analysis of each segment. At the same time, the study contain in-depth information of the frontrunners that are active in the industry along with their financial agenda, segmental profits, company trends, services/products offerings, and major adopted stratagems.

Benefits offered by sustainable packaging products such as strength, transparency, insulation and water resistance, the growing use of sustainable packaging in industries such as healthcare, pharmaceutical, automobile, nutraceuticals, and fashion, increase in plastic pollution globally, employment of a wide range of sustainable packaging products by modern agricultural practices to help improve productivity, and the ability of sustainable packaging to preserve a product’s shelf life drive the growth of the global sustainable packaging market.

The Sustainable packaging market report keeps a perfect tab on the market share of several companies, recent market trends, revenue forecast, and new product launches across the market. The report includes company profiles that delineate the revenue share of the top competitors in the market. Simultaneously, the report provides revenue forecasts for four regions and more than twenty major countries across Asia-Pacific, LAMEA. North America and Europe.

The rigid packaging segment held the largest market share of nearly three-fifths of the global sustainable packaging market in 2021. Rigid packaging is used in a wide range of products, including food, medicine, electronics, toys, personal care items, office supplies, tools, and others. Moreover, it is highly impact-resistant and affordable. However, the flexible packaging segment is expected to maintain its dominance and is projected to witness the largest CAGR of 7.6% from 2022 to 2031. Rapid change in lifestyles has surged the demand for convenient products where bioplastics are widely used for flexible packaging applications.

Sustainable Packaging Covered Market:- Amcor plc, Ardagh Group S.A., Ball Corporation, BASF SE, Crown Holdings, Inc., DS Smith plc, Elopak AS, Emerald Packaging, Inc., Mondi plc, Nampak Ltd., Plastipak Holdings, Inc., Sealed Air Corporation and Other.

Analysis of COVID-19 impact:

The outbreak of the pandemic has had a massive impact on the majority of industries and the Sustainable packaging market was also not an exception in this regard. The report provides a detailed study on the micro- and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the Sustainable packaging market in the form of qualitative study. The report offers explicit details regarding the market extent and shares during this unprecedented time. At the same time, the major strategies adopted by the market players to combat the global crisis is also covered under the report. Last but not the least, the report highlights how the pandemic has distorted the supply chain of the market and takes in a post-COVID-19 analysis too.

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