Sustainable Packaging Global Market Report 2024, with Profiles of Key Market Players Amcor, Berry Global, International Paper, Smurfit Westrock and Sealed Air - ResearchAndMarkets.com

The "Sustainable Packaging: Global Markets" report has been added to ResearchAndMarkets.com's offering.

The global market for sustainable packaging is estimated to increase from $278.1 billion in 2023 to reach $391.1 billion by 2029, at a compound annual growth rate (CAGR) of 6% from 2024 through 2029.

The European market for sustainable packaging is estimated to increase from $111.6 billion in 2023 to reach $163.3 billion by 2029, at a CAGR of 6.8% from 2024 through 2029.

The Asia-Pacific market for sustainable packaging is estimated to increase from $78.6 billion in 2023 to reach $111.9 billion by 2029, at a CAGR of 6.2% from 2024 through 2029.

This report analyzes the global sustainable packaging market, segmenting it based on material, process, and end-user. Materials include paper, plastic, metal, and others (such as glass, wood, and textile). The paper-based packaging segment is further divided into corrugated/cardboard, boxboard/carton board, and flexible paper. Plastic-based packaging is divided into flexible and rigid packaging.

In the fashion industry, around 150 billion plastic packaging bags are used annually, most of which end up in landfills. In 2023, the global volume of flexible packaging reached 29.9 million tons. (Tipa Ltd, 2024, What Is Sustainable Packaging?). With the surge in online shopping and e-commerce deliveries, the demand for high-performance packaging is more critical. Sustainable packaging addresses this major pollution source and meets consumer demands for environmental responsibility. By moving away from conventional plastics, businesses can reduce their carbon footprint, decrease landfill waste, and contribute to a healthier planet. Compostable food packaging supports a circular economy, ensuring materials are reused for as long as possible and eventually decompose into nutrient-rich soil.

Governments worldwide are encouraging the use of green packaging. Countries like Ireland, Italy, and Japan offer tax exemptions for compostable packaging, while the U.K. imposes higher taxes on packaging with less than 30% recycled materials. The U.K.'s Extended Producer Responsibility (EPR) schemes hold producers and retailers accountable for the end-of-life of their packaging, taxing hard-to-recycle plastics and exempting sustainable packaging. (GWP Group, 2024, A beginners guide to the Plastic Packaging Tax).

The report includes:

• 54 data tables and 49 additional tables
• An overview of the global market for sustainable packaging
• Analyses of the global market trends, with data from 2021-2023, estimates for 2024, and projections of compound annual growth rates (CAGRs) through 2029
• Evaluation of the market potential for sustainable packaging materials, based on material, process, end use, region and country
• Coverage of the latest technological developments in the industry
• Discussion of environmental issues concerning the use of plastic packaging material, the production of eco-friendly material packaging for food and beverages and consumer goods industries and the stringent government regulation of packaging materials
• Overview of the sustainability trends and ESG developments in the industry, with emphasis on the ESG practices followed by leading companies, their ESG ratings, and consumer attitudes
• Competitive intelligence, including companies' market shares, recent M&A activity and venture funding
• Company profiles of major players within the industry, including Amcor, Berry Global, International Paper, Smurfit Westrock, and Sealed Air

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