Shift of manufacturer’s preference for packaging from conventional to biodegradable packaging materials, is pinpointing the growth of the global sustainable packaging market. As indicated by the latest market report published by Transparency Market Research, titled ‘Sustainable Packaging Market’: Global Industry Analysis and Forecast 2018-2026,’ the global sustainable packaging market is estimated to be US$ 250.6 Bn for 2018, and is expected to grow at a CAGR of 5.3% during the forecast period (2018-2026).
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The report analyses the key drivers and restraints, as well as sustainable packaging market trends, and performs pricing analysis based on the average weighted model.
Paper & Paperboard Continue to Remain Superior with More than Half of Market Revenue
Among material type segments, paper & paperboard segment is expected to dominate the market throughout the forecast period with an estimated market share of 55.1% in 2018, during the forecast period. Plastic segment is estimated to register a CAGR of 5.0% during the forecast period. PLA segment is expected to create incremental $ opportunity of US$ 10.2 Bn during the forecast period. Metal (Aluminum) segment is estimated to register a value of US$ 33.3 Bn in 2018 and is expected to reach 52.1 Bn during the forecast period. Others segment is estimated to register a CAGR of 4.6% during the forecast period.
Beverages Retain Dominance over Other End Use Industries
By end use industry, the sustainable packaging market is segmented into food, beverages, automobile and electronics, chemical, pharmaceutical, agriculture, cosmetics & personal care. Food segment is further sub segmented into bakery & confectionery, dairy and meat & poultry. Beverages segment is further sub segmented into carbonated beverages and non-carbonated beverages. Among the end use, beverage segment is estimated to dominate the forecast period, with an estimated market value share of 29.8% in 2018. Chemical & pharmaceutical segment market during is expected to create incremental $ opportunity of US$ 28.6 Bn during the forecast period. Agriculture segment is estimated to reach an estimated market value share of 9.1% in 2026 during the forecast period. Among geographic market segments, the Europe region is anticipated to lead the global sustainable packaging market, during the forecast period. Europe region is projected to register the CAGR of 5.4%, during the forecast period, by value.
The market players that have been profiled include global sustainable packaging market including 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, International Paper Company, Berry Global Inc, Bemis Company, Inc., Sealed Air Corporation, Reynolds Group Holdings Ltd, Tetra Pak International S.A, Genpak LLC, Huhtamaki OYJ, Tetra Laval International S.A., Reynolds Group.
Globally, the sustainable packaging market has been segmented on the basis of packaging type, by material, by End Use Industry and region.
The segmentation is as follows:
By Packaging Type
- Bottles & Jars
- Pouches & Sachets
- Paper & Paperboard
- Coated Unbleached
- Bleach Paperboard
- Molded Fiber pulp
- Corrugated Board
- Starch Based Plastics
- Others (PCL)
- Metal (Aluminum)
By End Use Industry
- Bakery & Confectionery
- Meat & Poultry
- Non- Carbonated
- Automobile & Electronics
- Cosmetics & Personal Care
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