Global Sustainable Packaging Market Status and Prospect, Forecast 2018 to 2026
Posted by Andreas Winkler on January 25th, 2018
Sustainable packaging is considered as an eco-friendly and healthy mode of packaging. Sustainable packaging has a number of applications in end-use industries such as FMCG, wholesale, and food & beverages. Sustainable packaging plays a vital role in enhancing the shelf-life of products. Moreover, sustainable packaging helps in reducing carbon footprint owing to its bio-degradable nature, and is also used by manufacturers as a means for improving brand image.
Increasing adoption of sustainable packaging in various end-use industries (https://marketresearch.biz/report/sustainable-packaging-market/) such as FMCG, and food & beverages, coupled with stringent rules by governments in developed economies for use of plastic packaging products are key factors driving growth of the global sustainable packaging market. In addition, increasing awareness about conservation of environment among the general population, and rising demand for single-use packaging products are other major factors expected to drive growth of the global sustainable packaging market over the forecast period.
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However, high cost of sustainable packaging products is a major factor restraining growth of the global sustainable packaging market. Additionally, preference for cheaper plastic-based packaging products by manufacturers in emerging economies is anticipated to hamper growth of the global sustainable packaging market to a significant extent.
The global sustainable packaging market report has been segmented on the basis of product type, material type, application, and region. On the basis of region, into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Currently, the market in Asia Pacific dominates the global sustainable packaging market in revenue terms owing to increasing use of eco-friendly packaging products by the general population, and increasing preference by end use industries for sustainable packaging in the region. Europe is currently the second-highest market due to increasing preference for sustainable packaging among end users and high disposable income followed by North America. The market in Asia Pacific is projected to have the fastest growth in terms of revenue as compared to all other regions, owing to high demand for sustainable packaging products from emerging economies such as India and China.
Prominent players in the global market include Amcor Ltd., Crown Holdings, Bemis Company, Inc., Ball Corporation, Anchor Packaging, Tetra Pak International S.A., Silgan Holdings Inc., Reynolds Group, and Genpak LLC.
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