Global Sustainable Packaging Market was Valued at US$ 325.78 Bn in 2022, Growing at a CAGR of 11% over the Forecast Period (2023 – 2031): A Report by Absolute Markets Insights

Packaging is an important aspect of every business, that involved buying and selling of goods or commodity. While the arrival of plastic changed the world of packaging as it made it extremely cheaper, it also brought several issues to the fore. This is where the sustainable packaging comes into the scene. Sustainable packaging refers to packaging materials and designs that have a reduced impact on the environment, and happen to be socially responsible, and feasible on economic level. Sustainable packaging focuses on minimizing the use of natural resources, reduce waste, and decrease the carbon footprint of the packaging industry. The sustainable packaging has various benefits like using materials that are renewable or biodegradable, such as paper, cardboard, or plant-based plastics, and avoiding non-recyclable or non-biodegradable materials such as single-use plastics. It also includes designing packaging to be reusable or recyclable, like creating a system for customers to return packaging for refill or recycling. Along with bringing down the amount of packaging used, while still ensuring product safety and integrity.

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One of the top factors that provides impetus to the growth of the global sustainable packaging market is rising awareness among consumers for materials that are recyclable and eco-friendly. Along with this, surging demand for sustainable food packaging helps the market grow. Meanwhile, the growth of the global sustainable packaging market is facing a roadblock from higher costs associated with raw materials used in this type of packaging. On the other hand, the global sustainable packaging market will be seeing tremendous growth over the period of next several years owing to several government initiatives and regulations to promote sustainable packaging.

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Global Sustainable Packaging Market Report Findings:

• On the basis of the end users, the global sustainable packaging market is bifurcated into pharmaceutical and healthcare, cosmetics and personal care, food and beverage, e-commerce and retail, media and electronics, industrial, and others. The food and beverage segment accounts for majority of revenue generated by this market. This is because the consumption of food and beverage is at all-time high.
• The region of Asia Pacific will be minting maximum money at the fastest rate for the global sustainable packaging market in next several years. Undoubtedly, the countries of China and India are the biggest market for every product, and this is why sustainable packaging solutions are being sought the most.

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Some of the key participants operating in the global sustainable packaging market are

• Amcor plc
• Ball Corporation
• BASF SE
• DS Smith
• Emmerson Packaging
• Genpak LLC
• Huhtamaki Global
• International Paper Company
• Mondi
• Sealed Air
• Smurfit Kappa
• Sonoco Products Company
• Tetra Pak Group
• TIPA LTD
• Other Market Participants

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Global Sustainable Packaging Market

By Packaging Type

• Reusable Packaging
• Degradable Packaging
• Recycled Packaging
• Corrugated Packaging
• Others

By Material Type

• Glass
• Plastic
• Paper
• Others

By End-User

• Pharmaceutical and Healthcare
• Cosmetics and Personal Care
• Food and Beverage
• E-commerce and retail
• Media and Electronics
• Industrial
• Others

By Region

• North America (U.S., Canada, Mexico, Rest of North America)
• Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
• Latin America (Brazil, Argentina, Rest of Latin America)

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