Sustainable Plastic Packaging Global Market Report 2024

Sustainable plastic packaging serves as a versatile solution for packaging a variety of items, including food and beverages, healthcare products, and more. This type of packaging is typically designed to be recyclable, reusable, or biodegradable, with its environmental benefits making it a preferred choice for organizations. The lightweight and cost-effective nature of sustainable plastic packaging further contribute to its popularity.

The primary types of sustainable plastic packaging include rigid, flexible, and industrial categories. Rigid packaging is characterized by its inability to bend or be twisted out of shape. Sustainable plastic packaging encompasses various formats, including primary packaging, secondary packaging, and tertiary packaging. These packaging formats can undergo processes for recyclability, reusability, and biodegradability. They find application in diverse sectors such as food and beverage, personal care, healthcare, and other end-use industries.

The sustainable plastic packaging market research report is one of a series of new reports that provides sustainable plastic packaging market statistics, including sustainable plastic packaging industry global market size, regional shares, competitors with a sustainable plastic packaging market share, detailed sustainable plastic packaging market segments, market trends and opportunities, and any further data you may need to thrive in the sustainable plastic packaging industry. This sustainable plastic packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The sustainable plastic packaging market size has grown strongly in recent years. It will grow from $107.36 billion in 2023 to $116.35 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth observed during the historical period can be attributed to several factors, including increased environmental awareness, regulatory pressures, rising consumer demand for sustainable practices, corporate commitments to sustainability goals, and the pursuit of cost efficiency measures.

The sustainable plastic packaging market size is expected to see strong growth in the next few years. It will grow to $166.6 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The anticipated growth in the forecast period can be attributed to the expansion of e-commerce, increased investments in recycling infrastructure, efforts in consumer education, ongoing innovations in sustainable packaging, and advancements in sustainable materials. Major trends expected during this period encompass the adoption of biodegradable plastics, the development of recyclable packaging solutions, initiatives focused on reducing plastic usage, exploration of innovative materials, and the integration of smart packaging technologies.

The sustainable plastic packaging market is poised for growth in the forecast period, driven by an increasing adoption of environmentally friendly plastic packaging materials across various industries. Industries are turning to sustainable plastic for packaging solutions due to its lightweight nature, cost-effectiveness, and recyclable or reusable properties. A notable example is Unilever, a British multinational consumer goods company, which achieved a 16% reduction in plastic from 711,000 tons in 2018 to 599,000 tons in 2021. This substantial reduction in plastic usage is generating a demand for sustainable packaging solutions, thereby contributing to the growth of the sustainable plastic packaging market.

The surge in climate change is identified as a key factor expected to propel the sustainable plastic packaging market. Climate change, characterized by long-term shifts in temperature and weather patterns, prompts the need for environmentally conscious measures. Sustainable plastic packaging plays a crucial role in mitigating climate change by reducing the environmental impact associated with traditional plastics. As an example, the World Health Organization estimated in August 2021 that climate change could result in approximately 250,000 additional deaths annually between 2030 and 2050, with associated health-related expenditures reaching between USD 2-4 billion per year by 2030. Consequently, the increase in climate change is anticipated to drive the growth of the sustainable plastic packaging market.

The rise in the use of biodegradable plastics is shaping the landscape of the sustainable plastic packaging market. Major companies in the market are adopting biodegradable plastics for packaging due to their eco-friendly characteristics, such as reduced carbon emissions and environmentally friendly disposal options. For instance, Paptic Ltd., a Finland-based packaging company, introduced a new sustainable packaging material grade in April 2021 specifically designed for carrier bags and e-commerce mailers. This grade utilizes wood fibers from 100% sustainably managed woods, providing a renewable and recyclable solution with unique touch and feel characteristics.

Innovation in technological products, such as plastic packaging with recycled material, is a strategy employed by major companies in the sustainable plastic packaging market to enhance profitability. Plastic packaging with recycled material involves sourcing plastic from recycled materials. In February 2023, TotalEnergies SE, a France-based petroleum business company, partnered with Ecolab Inc., a USA-based technology and systems company, to launch RE:use Rpe6314, a plastic packaging solution with innovative post-consumer recycled (PCR) plastic content. This solution is designed for highly concentrated cleaning products, enabling circularity without compromising performance.

In February 2022, HP Inc., a US-based information technology company, acquired Choose Packaging to integrate it into its Personalization & 3D Printing business, aiming to expand its technology and customer footprint for a broader market reach. Choose Packaging is a US-based developer of packaging solutions.

Major companies operating in the sustainable plastic packaging market include Amcor Ltd., Sonoco Products Company, Huhtamaki OYJ, WestRock Company, Smurfit Kappa Group PLC, Mondi PLC, Tetra Laval International SA., BASF SE, DS Smith PLC, Genpack LLC, E. I. du Pont de Nemours and Company, Sealed Air Corporation, Crown Holdings Inc., Bemis Company Inc., Uflex Ltd., Ardagh Group Holdings S.A., Plastipak Holdings Inc., Elopak AS, Berry Global Group Inc., AptarGroup Inc., Coveris Holdings S.A., Constantia Flexibles Group GmbH, Klöckner Pentaplast Group GmbH & Co. KG, Winpak Ltd., Eco-Products Inc., Vegware Ltd., Biopak Pty Ltd., Sabert Corporation, Novamont S.p.A.

Asia-Pacific was the largest region in the sustainable plastic packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the global sustainable plastic packaging industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered In the sustainable plastic packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The sustainable plastic packaging market consists of revenues earned by entities by providing sustainable plastic packaging materials such as corrugated cardboard and bioplastics. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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