MENA Sustainable Packaging Market: Current Analysis and Forecast (2023-2030)

Report Description

The MENA sustainable packaging market was valued at USD 11889.34 Million in 2022 and is expected to grow at a strong CAGR of around 5.92% during the forecast period (2023-2030) owing to the increasing governmental focus on environmental sustainability and stringent regulations promoting eco-friendly packaging. In addition, the surge in the adoption of sustainable packaging improves supply chain efficiency and reduces overall environmental footprint. The United Arab Emirates (UAE) has a Total Ecological Footprint (TEF) of 11.9 global hectares per person, significantly higher than the world average of 1.8 global hectares per person. Kuwait and the Kingdom of Saudi Arabia also have very large footprints — 7.6 and 4.6 global ha/person respectively. Therefore, the demand for sustainable packaging solutions has surged across various industries in the region due to the developing acceptance of biodegradable and compostable packaging solutions.

Some of the major players operating in Hotpack Packaging Industries LLC, Amber Packaging, Advanced Flexible Packaging Co., Napco National, Gulf Packaging Industries Limited Ltd., Takween Advanced Industries, Sealed Air, Mondi, Amcor plc, ENPI Group. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative sectors/technologies.
Insights Presented in the Report

“Amongst packaging type, Reusable packaging is expected to grow with a significant CAGR during the forecast period (2023-2030).”

Based on packaging type, the market is segmented into recycled content packaging, reusable packaging, and degradable packaging. Reusable packaging is expected to grow with a significant CAGR during the forecast period (2023-2030). This is mainly due to the shift in consumer behavior towards sustainability. Adding to this, companies are now turning to reusable packaging as a way to reduce waste and minimize their environmental impact. Moreover, it is designed to last for multiple uses which makes it a more cost-effective option compared to traditional single-use packaging.

“Amongst application, food & beverages held a dominant share of the market in 2022.”

Based on the application, the market is segmented into food & beverages, personal care, healthcare, and others. Food & beverages held a significant share of the market in 2022. This is mainly due to the growing awareness of the environmental issues caused by traditional plastic packaging leading to a rise in the adoption of eco-friendly packaging solutions. For instance, on July 12, 2023, Melodea, Ltd., introduced its newest innovation, MelOx Ngen which is designed for recyclable plastic food packaging and offers superior freshness protection while reducing plastic waste. Moreover, companies in the MENA region are investing in research and development to innovate sustainable packaging options such as compostable packaging, edible packaging, and plant-based plastics.

“Saudi Arabia leads growth of the market.”

The sustainable packaging market in Saudi Arabia is expected to grow with the highest CAGR during the forecast period (2023-2030). This is mainly due to the growing demand for eco-friendly packaging solutions in the country. Additionally, the government has been implementing regulations and initiatives to promote sustainable practices which has further fueled the demand for sustainable packaging solutions. Saudi Green Initiative (SGI) launched in 2021, is actively backing Saudi Arabia’s goal of achieving net zero emissions by 2060 by promoting the Circular Carbon Economy approach and expediting the nation’s shift towards a sustainable green economy. Furthermore, innovative packaging designs and technologies are being adopted to reduce material waste and optimize space. For instance, companies are exploring options like lightweight packaging, right sizing, and minimalistic designs to minimize the overall environmental impact.

MENA Sustainable Packaging Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, sector portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The MENA Sustainable Packaging market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the MENA Sustainable Packaging Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the MENA Sustainable Packaging market were the three major steps undertaken to create and analyze the adoption of the MENA Sustainable Packaging in major countries. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the MENA Sustainable Packaging market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the MENA Sustainable Packaging market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the MENA Sustainable Packaging market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & and sub-segments for major regions. Major segments are included in the report as packaging type, application, and material. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the MENA sustainable packaging market. Further, we conducted factor analysis using dependent and independent variables such as sector, application, and material of the MENA sustainable packaging market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and sector launches in the MENA sustainable packaging market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the MENA sustainable packaging market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the MENA Sustainable Packaging market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the MENA Sustainable Packaging market in terms of sectors offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Key Stakeholders of MENA Sustainable Packaging Market

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the MENA Sustainable Packaging market. The data was split into several segments & and sub-segments post studying various parameters and trends in the areas of the packaging type, application, and material of the MENA Sustainable Packaging market.

The main objective of the MENA Sustainable Packaging Market Study

The current & future market trends of the MENA Sustainable Packaging market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional and country level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the MENA Sustainable Packaging market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the packaging type, application, and material
• Define and analysis of the regulatory framework for the MENA Sustainable Packaging industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the MENA Sustainable Packaging market for the major region
• Major countries of regions studied in the report include Saudi Arabia, UAE, Egypt, Kuwait, and the Rest of MENA
• Company profiles of the MENA Sustainable Packaging market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry.

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