According to a research report published by Spherical Insights & Consulting, the Global Sustainable Packaging Market Size is Expected to Grow from USD 119.67 Billion in 2023 to USD 267.99 Billion by 2033, at a CAGR of 8.4% during the forecast period 2023-2033.

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Sustainable packaging focuses on designing materials and techniques with minimal societal and environmental impact, aiming to reduce waste, conserve resources, reduce greenhouse gas emissions, and promote responsible material use. Businesses are adopting sustainable methods because consumers are growing more demanding of sustainable and eco-friendly packaging for their goods. Concerns about excessive packaging waste from online shopping have increased demand for lightweight, recyclable, easy-to-dispose-of, and protective packaging materials. Effective recycling and waste management systems are critical to the success of sustainable packaging, and they must be improved to guarantee that recyclable and compostable trash is handled correctly. Biodegradable packaging materials decompose into non-toxic components, making them environmentally responsible. They are advantageous to the food, beverage, cosmetics, and pharmaceutical sectors. Labeling and proper disposal infrastructure are essential. Novel materials are being sought, including edible packaging, mycelium, algae, bioplastics, and bio-based materials. Through several programs, the Indian government has been aggressively promoting environmentally friendly packaging. As a component of the National Logistics Policy, the National Packaging Initiative seeks to secure product safety, lower logistics costs, and advance sustainability. For instance, the National Mission on sustainable packaging was also started by the Council of Scientific and Industrial Research (CSIR), to create creative ways to lessen packaging waste and its negative effects on the environment. However, though industrial technology and economies of scale can lower costs, sustainable materials may initially cost more than conventional ones. Companies need to evaluate prospective expenses and customer willingness.

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Sustainable Packaging Market Size, Share, and COVID-19 Impact Analysis, By Packaging Type (Recycled Content Packaging, Reusable Packaging, and Degradable Packaging), By Material (Glass, Paper, Metal, and Plastic), By Application (Food & Beverage, Personal Care, Healthcare, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.         

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The recycled packaging type segment is predicted to hold the largest market share through the forecast period.

Based on the packaging type, the sustainable packaging market is classified into recycled content packaging, reusable packaging, and degradable packaging. Among these, the recycled packaging type segment is predicted to hold the largest market share through the forecast period. Recycled packaging materials are essential to extending product lifetimes, which is why the circular economy is becoming more and more popular. Despite upfront expenses, waste management, resource preservation, and aesthetics can all result in long-term cost benefits. Recycled packaging can enhance market share, foster consumer loyalty, and improve brand confidence.

The paper segment is anticipated to hold the largest market share during the projected timeframe. 

Based on the material, the sustainable packaging market is divided into glass, paper, metal, and plastics. Among these, the paper segment is anticipated to hold the largest market share during the projected timeframe. Paper-based packaging promotes trash reduction and the circular economy because it is simple to recycle. Businesses are increasingly seeking eco-friendly alternatives to corrugated cardboard and other paper-based materials due to the growing demand for safe, eco-friendly packaging materials in the e-commerce industry.

The food and beverage segment is anticipated to hold the largest market share during the projected timeframe.   

Based on the application, the sustainable packaging market is divided into food & beverage, personal care, healthcare, and others. Among these, the food and beverage segment is anticipated to hold the largest market share during the projected timeframe. Customers associate sustainability with ethical business practices, and brands that support sustainable packaging are improving their image and reputation. The industry is investigating edible packaging, and bio-based plastics, and educating customers about recycling and appropriate disposal.

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Europe is estimated to hold the largest share of the sustainable packaging market over the forecast period.

Europe is estimated to hold the largest share of the sustainable packaging market over the forecast period. Recycling techniques and substitute packaging materials are being developed as a result of European countries’ efforts to decrease plastic waste and boost recycling rates. Certain package types must contain more recycled materials by the Single-Use Plastics Directive. Businesses in Europe are adopting a circular economy, emphasizing product reuse, recycling, and repurposing. E-commerce has increased demand for packaging solutions that are safe, lightweight, and recyclable.

Asia Pacific is predicted to have the fastest CAGR growth in the sustainable packaging market over the forecast period. Growing discretionary incomes and the expanding e-commerce industry are driving up demand for sustainable packaging in the Asia-Pacific area, which is home to some of the world’s fastest-growing economies. Businesses in this area are establishing sustainability objectives, such as cutting back on plastic waste and packaging-related carbon emissions.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the sustainable packaging market include Sealed Air Corporation, Plastipak Holdings, Inc., Sonoco Products Company, Amcor plc, BASF SE, Mondi plc, DS Smith plc, Emerald Packaging, Nampak Ltd., Tetra Pak, Smurfit Kappa Group PLC, WestRock Company, Crown Holdings, Inc., Ardagh Group S.A., Ball Corporation, Elopak AS, SGF Packaging Co., Ltd., and Others.

Recent Development

• In March 2023, the Spanish company Hinojosa Packaging Group debuted a new line of commercial food service packaging alternatives that are entirely composed of recyclable materials. With this launch, the company hopes to draw attention to sustainable eating practices in the food industry.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the sustainable packaging market based on the below-mentioned segments:

Global Sustainability Packaging Market, Packaging

• Recycled content packaging
• Reusable packaging
• Degradable packaging

Global Sustainability Packaging Market, Application

• Glass
• Paper
• Metal
• Plastic

 Global Sustainability Packaging Market, Material

• Food & beverage
• Personal care
• Healthcare
• Others

Global Sustainable Packaging Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

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About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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