Stringent regulations regarding sustainability, coupled with changing preferences towards more sustainable packaging materials are some of the major factors for growth of the sustainable packaging industry. Degradable packaging is the fastest-growing process in the sustainable packaging market. In the material segment, paper & paperboard packaging is projected to grow at the highest rate. In terms of application, the food & beverage packaging segment is the fastest-growing segment, followed by the personal care packaging segment.
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This report provides a full analysis of key companies and competitive analysis of developments recorded in the industry during the past five years. Also, market drivers, restraints, opportunities, and challenges have been discussed in detail. Leading players of the market, which include Amcor Limited (Australia), Bemis Company, Inc. (U.S.), Tetra Laval International S.A. (Switzerland), Mondi plc (South Africa), WestRock Company (U.S.), BASF SE (Germany), Sonoco Products Company (U.S.), Smurfit Kappa Group PLC (U.S.), Sealed Air Corporation (U.S.), and Huhtamaki OYJ (Finland) have been profiled to provide an insight of the competitive scenario in the market.
On the basis of material, the sustainable packaging market has been segmented as follows:
- Paper & Paperboard
- Plastic
- Metal
- Glass
On the basis of function, the sustainable packaging market has been segmented as follows:
- Active packaging
- Molded pulp packaging
- Alternate fiber packaging
On the basis of application, the sustainable packaging market has been segmented as follows:
- Food & Beverage packaging
- Healthcare packaging
- Personal care packaging
- Others (electronic appliances and home care packaging)
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Major companies have regional and local distributors to increase their shares in several countries. One of the major developments observed in the sustainable packaging market is mergers and acquisitions. Companies are adopting organic growth strategies such as new product developments to cope with the increasing demand for sustainable packaging solutions in emerging markets. These strategies have aided major companies create a huge customer and partner base in these markets.
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