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Sustainable Packaging Market Segmented By product type such as Degradable, Recycled and Re-usable having material type such as Paper, Plastic, Metal and Glass with functional type such as Active, Molded Pulp and Alternate Fiber.
Sustainable packaging not only plays an important role in maintaining the shelf life of the product but also reduces adverse effect on environment, which is prominent with the use of non-bio degradable plastic materials for packaging. The five R’s of sustainable packaging are: Remove, Reduce, Recycle, Renew, Re-use. Sustainable packaging also reduces the ecological foot print. This in turn, provides a platform for ecofriendly, healthy and judicious methodology for packaging.
Sustainable packaging finds its application in almost all industry verticals, but predominantly it has found a major stake in the industries such as, food & beverages, FMCG, retail trade, wholesale, Healthcare, etc. to name a few. This new concept of packaging has also brought in a new dimensions for innovations giving a whole lot of opportunities for the entrepreneurs to explore various untapped dimensions in this field.
The key drivers for this industry are rise in environmental consciousness among the consumers. Non-biodegradable plastic has proved detrimental towards the health of the environment, by causing various ill effects such as soil pollution, landfill, and loss in soil fertility. This has impacted on the recent social scenario.
Stringent laws implemented by most of the nations over the use of plastic bags & carriers. Countries like South Africa, Uganda, Somalia, Rwanda Botswana, Kenya & Ethiopia all have implemented total ban over the usage of plastic bags. The increase in consumer demand for use of green packaging for organic foods is also a key driver in the sector.
Various companies across the world such as Hovis has launched bread packed using renewable polyethylene. Gillette razors, Dixie Egg Company, Wolfgang Puck Coffee, etc. has come up with amazing packaging formats. These packaging style, which would not only be eco-friendly, but also would grab eyes of the customer.
The key restraints for this industry could be over capacity. Owing to its cheaper price, non-bio degradable plastic bags are still considered to be the best and the most desired packaging material globally. Hence packaging companies are not able to match the selling volume with their production capacity.
Raw materials such as Bio-based monomers, liquid biofuels, cellulosic and recyclable fiber, bio-polymers used in films, additives, and barriers are much expensive. This in turn increases the cost to consumers. The most latest trends for this industry are the preference of light weighted packaging material over bulky ones, increase in the recycling of bio waste and innovative and improved packaging processes.
The sustainable packaging industry provides a wide door of opportunities for the suppliers as well as for the manufacturers. The suppliers of can provide raw material to the new players in the market who have invested in the sustainable packaging industry such as Dell. Dell has start shipping its products in packaging with fungus material combined mushroom & wheat straw.
It is expected that the biggest growth in sustainable packaging industry would be in the Asia Pacific market, largely driven by India & China. This is due to the increase in health awareness among the middle class population which has the maximum share in the total population of these nations and also due to the growth that these economies are experiencing presently.
There are a multiple number of players in the sustainable packaging industry. Among them the big names are: Bemis Ltd, Mondi PLC, Amcor Ltd, West rock company, Tetra laval international, Sealed Air corporation, Smurfit Kappa Group, BASF SE, Sonocco products etc.
The emergence of sustainable packaging as a mainstream trend across different industries on the back of reduced inverse impact on the environment in bolstering growth of its market. The global quest to reduce the ecological footprint is driving the world towards biodegradable packaging solutions.
Wide applications across different industry verticals including retail trade, healthcare, and food & beverages account for the market expansion. Growing awareness reagrding the detrimental impact of plastics on the environment such as soil pollution and loss of soil fertility has enhanced the adoption of sustainable packaging in the market.
Stringent regulations regarding the use of plastics for packaging across the different nations has also contributed to the progress of the landscape. The surge in demand for green packaging for organic food amongst the demographics is propelling the market towards growth.
Led by the developing economies China and India, Asia Pacific is epected to lead the global market in terms of growth.
Established players in the market are focused on developing lightweight packaging material and other innovations to enhance the adoption rate of their products. They are developing attractive packaging formats to enhance their consumer database. Prominent players profiled in the global sustainable packaging market include BASF SE, Tetra laval international, Amcor Ltd, Bemis Ltd, and West rock company.