Sustainable Packaging Material Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Material Type (Paper & Paperboard, Plastic, Metal, Glass); Process (Recycled, Reusable, Degradable); End-User (Pharmaceutical & Healthcare, Food &Beverage, Others); Region/Country.
Detailed Analysis of COVID-19 Impact on the Sustainable Packaging Material Market
Global Sustainable Packaging Material Market is expected to grow at a significant rate of around 8% during the forecast period. The demand for sustainable packaging materials is witnessing an uptick on account of the shifting preference of hotels, restaurants, and cafes toward packaging materials that are quite sustainable and have no impact on the environment. In 2018, Hilton Hotels & Resorts following its 2030 environmental and social targets, also pledged to phase out all plastic straws and stop using plastic water bottles in meetings & events. The waste generated by packaging and packaging materials is enormous and represents a major part of the total global waste that includes disposables used for several purposes. For instance, in 2018, the packaging waste generated in the EU was estimated at 174.1 kg per inhabitant varying from 67.8 kg per inhabitant in Croatia and 227.5 kg per inhabitant in Germany. Also, in the EU, During 2008-2018, paper and cardboard was the leading packaging waste material with around 31.8 million tonnes in 2018. This material is followed by plastic and glass generating 14.8 million tonnes & 14.5 million tonnes of waste in 2018, respectively. Owing to the increasing waste generation coupled with lowered recycling rate is harming the earth’s environment which in turn is driving the growth sustainable packing material market.
In 2019, Asia was the major producer of bioplastics, accounting for 45% of global production. 0.79 million hectares of land was used to grow renewable stocks for bioplastic production which is 0.02% of the global agricultural area and this will remain the same despite the predicted growth of bioplastic production. This will have no impact on 97% of the global agricultural area that is being used for pasture, food, and feed. This growing attention towards environmentally friendly products is increasing the use of eco-friendly food packing in the region
BASF SE, Amcor Plc, Westrock Company, Sonoco Products Company, TetraPak International SA, Sealed Air Corporation, Mondi PLC, Ball Corporation, Ardagh Group SA, Smurfit Kappa Group PLC, etc., are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst material type, paper & paperboard category to witness higher CAGR during the forecast period”
Based on material type, the market is segmented into paper & paperboard, plastic, metal, and glass. The paper & paperboard segment is expected to witness a robust CAGR during the forthcoming years. Paper and paperboard containers are biodegradable and are more sustainable than plastic, making them more acceptable to consumers. Some factors that make paper and paperboard containers environment-friendly and sustainable are that they are recyclable, reusable, save energy, and conserve natural resources.
“Amongst process, the recycled segment to hold a significant share in the market in 2020”
On the basis of process, the market is categorized into recycled, reusable, and degradable. Among these, the recycled segment grabbed the major market share and dominated the market in 2020. Recyclable materials such as paper, plastic, glass, and metal. By using these materials again as raw materials to make new packaging products, companies are able to lessen the pollution that comes from packaging trash. Moreover, the benefits of recycled content packaging would be facilitated by increased usage of recycled content packaging by companies seeking to differentiate their products and demonstrate environmental sustainability, as well as expanded collecting and processing capacity.
“Asia Pacific to hold a significant share in the market”
In 2020, Asia Pacific held a significant share of the global Sustainable Packaging Material market. A rise in the café, hotels, and restaurants across the region coupled with the growth of the travel and tourism industry and the rising attractiveness of Quick Service Restaurants (QSRs) among millennials. As per Statista, the number of food service establishments worldwide varied greatly by region in 2020. Asia-Pacific had the most establishments at over 17 million. In comparison, the region with the second highest number of food service establishments was Latin America with over 2.3 million.
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- 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, product portfolio, 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.
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|2.1.||Research Process of the Sustainable Packaging Material Market|
|2.2.||Research Methodology of the Sustainable Packaging Material Market|
|5||IMPACT OF COVID-19 ON THE SUSTAINABLE PACKAGING MATERIAL MARKET|
|6||SUSTAINABLE PACKAGING MATERIAL MARKET REVENUE (USD BN), 2020-2028F|
|7.1.||Paper & Paperboard|
|9.1.||Pharmaceutical and Healthcare|
|9.2.||Food and Beverage|
|10.1.3.||Rest of North America|
|10.2.6.||Rest of Europe|
|10.3.4.||Rest of Asia-Pacific|
|10.4.||Rest of World|
|12||SUSTAINABLE PACKAGING MATERIAL MARKET OPPORTUNITIES|
|13||SUSTAINABLE PACKAGING MATERIAL MARKET TRENDS|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|15||VALUE CHAIN ANALYSIS|
|16.1.1.||Porters Fiver Forces Analysis|
|17.4.||Sonoco Products Company|
|17.5.||TetraPak International SA|
|17.6.||Sealed Air Corporation|
|17.9.||Ardagh Group SA|
|17.10.||Smurfit Kappa Group PLC|
Research Methodology for the Sustainable Packaging Material Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global sustainable packaging material market were the three major steps undertaken to create and analyze the adoption of sustainable packaging material in major regions globally. 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 global sustainable packaging material 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 sustainable packaging material 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 sustainable packaging material market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as material type, process, and end-users. 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 sustainable packaging material market. Further, we conducted factor analysis using dependent and independent variables such as material type, process, and end-users of sustainable packaging material. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Sustainable Packaging Material market 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 global sustainable packaging material 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 2028 for different segments and sub-segments across the major markets globally. 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 Sustainable Packaging Material market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Sustainable Packaging Material market in terms of products 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.
Split of Primary Participants in Different Regions
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 global sustainable packaging Material market. Data was split into several segments & sub-segments post studying various parameters and trends in the material type, process, and end-users in the global Sustainable Packaging Material market.
The main objective of the Global Sustainable Packaging Material Market Study
The current & future market trends of the global Sustainable Packaging Material 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 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 Sustainable Packaging Material 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 material type, process, and end-users
- Define and analysis of the regulatory framework for the Sustainable Packaging Material
- 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 Sustainable Packaging Material market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the Sustainable Packaging Material 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