Global Sustainable Packaging Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Sustainable Packaging Market Overview

"The Sustainable Packaging Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

Sustainable packaging is considered an eco-friendly and healthy mode of packaging. Sustainable packaging has several applications in end-use industries such as FMCG, wholesale, and food & beverages. Sustainable packaging plays a vital role in enhancing the shelf-life of products. Moreover, sustainable packaging helps in reducing carbon footprint owing to its bio-degradable nature and is also used by manufacturers as a means for improving brand image.

Increasing adoption of sustainable packaging in various end-use industries such as FMCG, and food & beverages, coupled with stringent rules by governments in developed economies for the use of plastic packaging products, are key factors driving the growth of the global sustainable packaging market. In addition, increasing awareness about the conservation of the environment among the general population and rising demand for single-use packaging products are other major factors expected to drive the growth of the global sustainable packaging market over the forecast period.

However, the high cost of sustainable packaging products is a major factor restraining the growth of the global sustainable packaging market. Additionally, the preference for cheaper plastic-based packaging products by manufacturers in emerging economies is anticipated to hamper the growth of the global sustainable packaging market to a significant extent.

Currently, the market in the Asia Pacific dominates the global sustainable packaging market in revenue terms owing to increasing use of eco-friendly packaging products by the general population, and increasing preference by end use industries for sustainable packaging in the region. Europe is currently the second-highest market due to increasing preference for sustainable packaging among end users and high disposable income followed by North America. The market in Asia Pacific is projected to have the fastest growth in terms of revenue as compared to all other regions, owing to high demand for sustainable packaging products from emerging economies such as India and China.

Global Sustainable Packaging Market Segmentation:

Global sustainable packaging market segmentation by product type:

• Degradable
• Recycled
• Re-usable

Global sustainable packaging market segmentation by material type:

• Paper
• Plastic
• Metal
• Glass

Global sustainable packaging market segmentation by application:

• Food & Beverages
• Health care
• Personal care

Global sustainable packaging market segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa