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Sustainable Packaging Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024 - ResearchAndMarkets.com

17 December 2018

DUBLIN--(BUSINESS WIRE)-- The "Sustainable Packaging Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024" report has been added to ResearchAndMarkets.com's offering.

The report predicts the global sustainable packaging market to grow with a CAGR of 5.1% over the forecast period of 2018-2024.

The report on global sustainable packaging market provides qualitative and quantitative analysis for the period of 2016 to 2024. The study on sustainable packaging market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific and RoW for the period of 2016 to 2024.

The increasing environmental consciousness among the people is the key factor that is driving the sustainable packaging market. The use of non-biodegradable plastics causes various harmful effects on the environment such as landfill, soil pollution, and loss of the soil fertility. Owing to these reasons stringent regulations are implemented by several governments to improve the conditions of the environment. There are certain regions where the use of plastic bags is completely banned, thus triggering the growth of the sustainable packaging market.

The factors that are affecting the market growth in a negative way are the low availability, high price as compared to the plastics packaging. The raw materials that are required such as liquid biofuels, bio-polymers used in films, bio-based monomers, cellulosic and recyclable fiber, and additives are expensive which is affecting the sustainable packaging market.

However, the growth of the market is witnessing few setbacks owing to the high cost of production of sustainable packaging products as compared to conventional packaging products and the lack of awareness by masses, especially in low-income countries. Nevertheless, the market is likely to witness attractive prospects from the initiatives taken by governments in several emerging economies to support environmental-friendly packaging. To this end, they have framed numerous legislations promoting the use of eco-friendly materials in the packaging industry among customers.

Geographically, the sustainable packaging market is diversified into regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. Asia pacific is the fastest growing region in terms of CAGR. The factors that favor for the market growth are the large consumer base and the increasing per capita expenditure. The growth in the sustainable packaging market in the North American region is owing to the stringent government regulations and the increasing consumer preferences.

Segment Covered

Global Sustainable Packaging Market by Material

  • Paper & Paperboard
  • Plastic
  • Others

Global Sustainable Packaging Market by Packaging Type

  • Trays
  • Bags
  • Boxes
  • Bottles & Jars
  • Films
  • Pouches & Sachets
  • Drums
  • IBC
  • Others

Global Sustainable Packaging Market by Application

  • Food
  • Beverages
  • Automobile & Electronics
  • Chemical
  • Pharmaceutical
  • Agriculture
  • Cosmetics And Personal Care

Company Profiles

  • Sonoco Products Company
  • Amcor Limited
  • Gerresheimer AG
  • Smurfit Kappa Group PLC
  • Ball Corporation
  • Ardagh Group S.A
  • Crown Holdings, Inc.
  • WestRock LLC
  • DS Smith Plc
  • The Mondi Group plc

For more information about this report visit https://www.researchandmarkets.com/research/xwx77p/sustainable?w=4