Sustainable Plastic Packaging Market - An Overview
Sustainable plastic not only decomposes naturally but also keeps the environment clean by reducing packaging waste. Sustainable plastic packaging is less harmful to the environment compared to traditional plastic packaging which causes further destruction. It is biodegradable and eco-friendly which makes it an ideal choice for manufacturers as well as customers.
Sustainable plastic packaging is light in weight and convenient to transport compared to other customary bulky packaging materials. It also takes less area and allows more space for other materials to be transported. Sustainable plastic packaging could also be recycled and reused. Its features like tensile strength, lightweight, transparency make it more visually appealing and also user friendly to the customers. Sustainable plastic packaging comes in flexible and rigid packaging formats. Flexible packaging is preferred by customers for lighter and more convenient goods, while rigid packaging is ideal for bulky and hefty goods.
Sustainable Plastic Packaging Market - Dynamics
Due to various green initiatives taken by conglomerates towards reducing plastic packaging, companies are now adopting ecological packaging material which decomposes easily and reduces carbon footprint. Sustainable plastic packaging is highly used in the food industry as store and take-out food containers, labels and tags, wraps and packets among others. The growth of the food industry all over the world is helping sustainable plastic packaging industry to intensify its demand.
Users are also demanding sustainable packaging so that they can reuse it well ahead. Sustainable plastic packaging is additionally segmented into Healthcare, Personal & Household Care Electronics and others based on end-use and the share to these segments is continuously increasing. With the arrival of e-commerce, the demand for sustainable plastic packaging is increased in the market. Food delivery, commodities delivery and other material deliveries extensive use plastic packaging and are switching towards more organic and sustainable plastic packaging materials. Due to ongoing innovations and advancements, sustainable plastic packaging is revamped and updated to support nature and reduce carbon footprints. One of these type pf sustainable plastic packaging includes starch-based plastics which are made from corn starch and degrade very easily. These types of sustainable plastics are called Bioplastics and Polyactide (PLA) plastics.
Sustainable Plastic Packaging Market - Segmentation
The global sustainable plastic packaging market is segmented by material type, packaging type, and end-use. The pricing for sustainable plastic packaging has being done based on material type segment in US$/ton, and the volume is considered in tons.
Segmentation of Sustainable Plastic Packaging Market on the basis of Material Type:
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Poly Lactic Acid (PLA)
- Starch Based
- Other Plastic
Segmentation of Sustainable Plastic Packaging Market on the basis of Packaging Type:
Segmentation of Sustainable Plastic Packaging Market on the basis of End Use:
- Food & Beverage
- Personal & Household Care
Sustainable Plastic Packaging Market - Key Players
Sustainable Plastic Packaging Market is an extremely competitive market with presence of a portion of large and small players. Some of the key players in the sustainable plastic packaging market are as follows:
- Amcor PLC
- Smurfit Kappa
- Mondi PLC
- Sonoco Products Company
- Huhtamaki Oyj
- Berry Global Group Inc.
- Genpak LLC
- Aptargroup's Right to Win
- Sealed Air Corporation
- Constantia Flexibles
- Novamont S.P.A
Sustainable Plastic Packaging Market - Regional Outlook
Sustainable plastic packaging revolutionized retail markets all over the world and became the ultimate choice for many retail chains and manufacturers.
Sustainable plastic packaging is extremely popular in North America and Europe due to its benefits and high disposable income of retail shoppers. However, these are pretty mature markets for sustainable plastic packaging and don’t hold highly incremental opportunities for market players in future. In the Asia Pacific regions, China is the biggest manufacturer of sustainable plastic packaging. It is also the greatest exporter. India is also one of the leading consumer markets of sustainable plastic packaging in the Asia Pacific. The demand and supply for sustainable plastic packaging are comparatively slow in the Middle East and African regions.
The sustainable plastic packaging market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report on sustainable plastic packaging market provide in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies of the sustainable plastic packaging market.
The Regional analysis includes –
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa (MEA)
- A detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth segmentation of the sustainable plastic packaging market
- Historical, current, and projected size of the market, regarding volume and value
- Recent industry trends and developments in the sustainable plastic packaging market
- Competitive landscape in the market
- Strategies for key players operating in the market and products offered by them
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on performance of the market
- Must-have information for market players to sustain and enhance their market footprint
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.