Industry Outlook and Trend Analysis
The Sustainable Packaging Market was worth USD 202.61 billion in 2014 and is expected to reach approximately USD 375.64 billion by 2023, while registering itself at a compound annual growth rate CAGR of 7.10% during the forecast period. Sustainable packaging is the usage and development of packaging which brings about enhanced sustainability. This includes expanded usage of life cycle inventory LCI and life cycle assessment LCA to help direct the usage of packaging which diminishes the impacts on the environment. The objectives are to enhance the long term quality and feasibility for people and the life span of natural ecosystems. Sustainable packaging must fulfil the practical and financial requirement of the present without trading off the capacity of upcoming generations to meet their particular needs. Sustainability isn’t really an end state; however it is a constant process of enhancement.
Drivers and Restraints
The main drivers for this industry are ascending in awareness regarding a healthy environment among the purchasers. Non-biodegradable plastic has been proven disadvantageous towards the betterment of nature, by causing different ill impacts, for example, landfill, pollution if soil, and loss of fertility in soil. This has affected the on-going social situation. Stringent laws executed by the vast majority of the countries over the utilization of plastic packs and transporters. Nations like South Africa, Somalia, Uganda, Kenya and Ethiopia all have executed a ban over the use of plastic. The expansion in demand among consumers for usage of green packaging for organic foods is likewise a key driver in the segment.
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Regional Outlook and Trend Analysis
The European market is assessed to represent the biggest share in sustainable packaging market on the background of high focus of the packaging makers and ascend in discretionary income of the customers. North America is anticipated to trail in sustainable packaging market as the area has most astounding consumption of packaging. The MEA area is assessed to contribute small but quickly developing share of the overall industry in sustainable packaging market. Development in maintainable packaging market in Latin America locale is anticipated to be direct amid the figure time frame.
Competitive Insights
The leading players in the market are Gerresheimer, DS Smith, Berry Global, Ball Corporation, Bemis Company, Smurfit Kappa Group, Mondi, Amcor Flexibles Chakan, WestRock, Sonoco, Crown Holdings, Ardagh Group S.A. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Sustainable Packaging Market is segmented as follows-
By Packaging Type
Bags
Bottles and Jars
Trays
Boxes
Films
Pouches and Sachets
IBC
Drums
Others
By Material
Plastic
Paper and Paperboard
Metal Aluminum
Others
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End User
Food and Beverages
Chemical
Automobile and Electronics
Cosmetics and Personal Care
Pharmaceutical
Agriculture
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Russia
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Southeast Asia
Rest of Asia-Pacific
South America
Brazil
Argentina
Columbia
Rest of South America
Middle East and Africa
Saudi Arabia
UAE
Egypt
Nigeria
South Africa
Rest of MEA
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Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
Customization of this Report can be done as per client’s requirement.
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Organization: Planet Market Reports
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