Monday, September 25, 2023

Global Sustainable Packaging Market Set to Exceed US$ 533.9 Billion with a Strong 7.2% CAGR during the Forecast 2023-2033

Last updated Tuesday, September 5, 2023 15:36 ET , Source: Future Market Insights, Inc.

Newark, United States, 09/05/2023 / Future Market Insights, Inc. /

In 2023, bags & and sacks are poised to be the leading segment in the sustainable packaging industry, capturing about 25% of the market share. Explore more opportunities with FMI’s analysis.

The sustainable packaging market is expected to reach US$ 266.4 billion in 2023, growing at a CAGR of 7.2% during the forecast period. The market is projected to continue its upward trajectory, reaching US$ 533.9 billion by 2033.

The sustainable packaging industry is experiencing significant growth primarily due to consumer demand for environmentally friendly packaging solutions. With consumers becoming more conscious of the environmental repercussions of packaging materials, there is a rising preference for sustainable options such as biodegradable, compostable, and recyclable packaging solutions. Furthermore, government regulations to curb carbon emissions and endorse sustainable packaging practices are also catalysts for this market’s expansion.

However, the high costs associated with sustainable packaging materials and the lack of infrastructure for waste management are some of the factors restraining market growth. The high costs of sustainable packaging materials, such as bioplastics, can pose a challenge for manufacturers, who may be reluctant to invest in them due to their higher cost compared to traditional packaging materials. Additionally, the lack of proper waste management infrastructure in many countries can hinder the adoption of sustainable packaging solutions.

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Opportunities in the sustainable packaging industry include the development of innovative and cost-effective packaging solutions that meet environmental standards. The demand for sustainable packaging solutions in emerging markets, such as Asia-Pacific, presents a significant growth opportunity for manufacturers. Furthermore, the increasing trend towards e-commerce is creating new opportunities for sustainable packaging solutions, as companies are looking for ways to reduce their environmental footprint and meet the demands of environmentally conscious consumers.

Key Takeaways from the sustainable packaging market:

  • Paper and paperboard have emerged as the dominating segment, accounting for nearly 37% of the market in 2023.
  • Bags & sacks are predicted to dominate the sustainable packaging industry in 2023, with a market share of approximately 25%.
  • Manufacturers’ (sales) distribution channels are expected to have a 55% market share in the sustainable packaging industry by 2023.
  • In 2023, the food and beverage industry is predicted to have a 45% market share in the sustainable packaging industry.
  • The sustainable packaging industry in North America is estimated to account for 25.7% of the market by 2023.
  • In 2023, the East Asian sustainable packaging industry is estimated to account for 18.5% of the total.
  • In 2023, the South Asia & Pacific sustainable packaging industry is estimated to account for 12.6% of the total.
  • In 2023, the sustainable packaging industry in Western Europe is estimated to account for 16.4% of the total.

Discover the Strategies Employed by Players

The sustainable packaging market has become increasingly competitive in recent years, with companies striving to differentiate themselves and capture market share. Many players in the industry are innovating to stay ahead of the competition and take advantage of emerging opportunities.

One trend that has emerged is the use of innovative materials, such as bioplastics and plant-based materials that offer eco-friendly alternatives to traditional packaging materials. Companies such as Tetra Pak and Amcor have been at the forefront of this trend, developing sustainable packaging solutions that are both recyclable and biodegradable.

Another area of focus for many players in the industry has been the development of smart packaging solutions. This includes packaging that incorporates technology such as sensors, QR codes, and RFID tags to enable real-time tracking of products and ensure freshness and quality. Companies such as Sealed Air and Smurfit Kappa have been investing heavily in this area, to provide more value to their customers and improve overall supply chain efficiency.

Finally, many companies in the sustainable packaging industry are focusing on reducing their carbon footprint and promoting sustainable practices throughout their supply chains. This includes initiatives such as the use of renewable energy sources, waste reduction programs, and sustainable sourcing of raw materials. Companies such as Ball Corporation and Crown Holdings have been leading the way in this regard, working towards a more sustainable future for the packaging industry.

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Key Players in the Sustainable Packaging Industry are

  • Amcor Plc,
  • Stora Enso Oyj.,
  • Berry Global Inc.,
  • Huhtamaki Oyj.,
  • WestRock LLC,
  • DS Smith Plc,
  • The Mondi Group plc,
  • International Paper Company,
  • Detmold Group,
  • Sealed Air Corporation,
  • Dart Container Corporation,
  • Duni AB,
  • Vegware Ltd.,
  • Pactiv LLC,
  • RKW Group,
  • Novolex Holdings, Inc

Key Segments Covered in the Market Report

By Material Type:

  • Paper & Paperboard
    • Coated Unbleached
    • Bleached Paperboard
    • Molded Fiber Pulp
    • Kraft Paper
    • Corrugated Board/Boxboard
  • Plastic
    • Poly Lactic Acid (PLA)
    • Polybutylene Succinate (PBS)
    • Polyhydroxyalkanoates (PHAs)
    • Starch based Plastics
    • Others (PVA, PVOH, PBAT, etc.)
  • Metal
    • Steel
    • Aluminium
  • Glass
  • Fabric
  • Wood

By Packaging Type:

  • Bags & Sacks
  • Trays & Clamshells
  • Cartons & Boxes
  • Cans
  • Bottles & Jars
  • Films & Wraps
  • Pouches & Sachets
  • Drums
  • IBC
  • Vials & Ampoules
  • Tapes & Labels
  • Others (Jerry Cans, Bowls, Cutlery, etc.)

By Distribution Channel:

  • Manufacturer (Direct Sales)
  • Distributors
  • Retailers

By End Use:

  • Food
    • Bakery & Confectionery
    • Dairy
    • Fresh Produce
    • Snack Food
    • Other Processed Food
  • Beverages
    • Non-alcoholic
    • Alcoholic
  • Cosmetics & Personal Care
  • Chemical
  • Healthcare
  • Agriculture
  • Other Industrial

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Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.

Explore Trending Reports of Packaging:

Beverage Packaging Market Size: The global beverage packaging market is expected to secure US$ 156.7 Billion in 2032 while expanding at a CAGR of 4.1%. The market is likely to hold a value of US$ 104.8 Billion in 2022.

Flexible Packaging Paper Market Trends: The flexible packaging paper market is on track to grow at an estimated CAGR of 4% during 2022-2032.

Biodegradable Packaging Market Growth: The global biodegradable packaging market is set to enjoy a valuation of US$ 448.2 Billion in 2022, and further expand at a CAGR of 6.1% during 2022-2032.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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