Sustainable Packaging Market Size, Share, information by Packaging Type (Tubes, Bags & Pouches, Corrugated Box and others), By Material (Paper & Paperboard, Glass, Metal, Plastic), By Process (Degradable Packaging, Recycled Packaging, Reusable Packaging), By Application (Personal Care, food & Beverages, Pharmaceuticals and others) and Forecast To 2023
As per the report published by Market Research Future (MRFR), the global Sustainable Packaging Market Size, 2020 is slated to secure a substantial market valuation at a moderate 7% CAGR over the assessment period.
The geographical overview of the global market has been conducted in four major regions, namely the Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
Thanks to the emergence of the increasing customer base and the growing emphasis on the government's implementation of eco-friendly approaches, the Asia Pacific region is expected to be the fastest-growing market over the projected period. In addition, increasing demand for recycled and recyclable goods in emerging economies, such as China, Japan, and India, is expected to propel growth in the fuel industry over the study. In addition, stringent government policies for environmental protection, coupled with the availability of government inducements and funding, are one of the major driving forces behind the growth of the Sustainable Packaging Market Size during the study period. Furthermore, innovative sustainable packaging products are also believed to flourish the growth of the Sustainable Packaging Market Size, in the Asia Pacific region over the assessment period.
The key market players identified by MRFR in the global market are Amcor Limited (Australia), Silgan Holdings Inc.( U.S.), Mondi plc. ( Austria), The Dow Chemical Company(U.S.), Sonoco Products Company (U.S.), Stora Enso Oyj(Finland), Genpak, LLC(North Carolina), BASF SE (Germany), DS Smith Plc. ( U.K.), Bemis Company Inc.( U.S.), Smurfit Kappa Group Plc. (Dublin), and others.
Major processes of the global Sustainable Packaging Market Size, are recycled content packaging, reusable packaging, and degradable packaging. Among these, recycled content packaging is leading the global Sustainable Packaging Market Size,. It accounted for a significant market share of the global Sustainable Packaging Market Size,. In addition, reusable packaging is the second-largest type of sustainable packaging. It is also slated to have seamless growth in the future, owing to the government regulations along with rapidly rising demand for bioplastic packaging. Moreover, degradable packaging is also projected to have moderate growth.
The materials used in the global Sustainable Packaging Market Size, are paper and paperboard, metal, glass, and plastic.
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