Global Sustainable Packaging Market: Overview
The global market for sustainable packaging has witnessed steady pace of expansion in the recent years and is expected to continue to embark upon a path of healthy growth in the next few years. The vast rise in concerns pertaining to rising industrial pollution, waste generation, and unproductive use of resources and materials are primarily paving way for the increased focus of the industrial sector on the development and increased usage of sustainable solutions. Thus, the concept of sustainable packaging is evolving rapidly in the packaging industry.
This report presents a comprehensive account of the growth prospects of the market and forecasts its potential growth dynamics over the period between 2016 and 2024. The report also gives a complete account of the various factors that are expected to have a notable impact on the overall development of the market in the next few years.
Global Sustainable Packaging Market: Trends and Opportunities
The global market for sustainable packaging is primarily propelled by stringent government regulations, which are compelling manufacturers to opt for sustainable packaging solutions over traditional packaging. The growing consumer interest regarding environment-friendly and sustainable products is also boosting the uptake of sustainable packaging products across the globe. Moreover, the vast benefits of sustainable packaging in terms of reduced operational cost through recycling and reuse are also catalyzing the growth of the market.
On the other hand, the growth of the market is hindered by the lack of stringent scenario in emerging countries regarding the use of sustainable packaging. However, the increasing scope of applications of sustainable packaging is likely to work in favor of the market in the near future.
Global Sustainable Packaging Market: Segmentation
The key materials used for sustainable packaging are glass, metal, paper and paperboard, and plastic. The demand for paper and paperboard is likely to remain high in the next few years. Sustainable packaging is primarily used for food and beverage packaging, industrial goods packaging, and pharmaceutical and healthcare packaging. On the basis of type of packaging, the market is classified into rigid packaging, flexible packaging, and packaging accessories.
Geographically, Asia Pacific is expected to be a leading revenue contributor throughout the forecast period. The growth of the region is largely supplemented by the widening base of consumers along with their rising purchasing power. Europe and North America will also account for a large combined share in the revenue pie of the market. The stringent government regulations pertaining to environment conservation and the growing consumer preference for eco-friendly solutions are translating into the greater uptake of sustainable packaging in these regions. Latin America is anticipated to exhibit noteworthy CAGR during the review period, owing to the flourishing growth of the packaging industry.
Global Sustainable Packaging Market: Competitive Dynamics
The report also presents a comprehensive account of the competitive landscape of the global sustainable packaging market. The report presents an account of the recent developments in the market and the detailed business profiles of some of the leading companies operating in the sector on regional as well as global fronts. The report states that the market is becoming increasingly competitive and companies are adopting strategic collaborations, mergers, and acquisitions as key growth strategies with the view of consolidating the market. Companies in the market are also allocating sizeable funds in research and development activities to introduce innovative solutions at an increased pace in the market.
Some of the prominent players in the market are Amcor Ltd, Anchor Packaging, Ball Corporation, Bemis, Crown Holdings, Genpak, Reynolds Group, Silgan Holdings Inc., and Tetra Pak International S.A.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
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