Sustainable Packaging Market: Forecasting Eco-Friendly Trends (2024-2030)
South Korea Takes the Lead in Sustainable Packaging Revolution Amidst Rising Packaging Waste
In a groundbreaking turn of events, South Korea has emerged as a global leader in the push for sustainable packaging solutions, fueled by a surging demand for eco-friendly alternatives to combat the nation's packaging waste crisis.
With the e-commerce market skyrocketing and the popularity of Home Meal Replacement (HMR) products reaching new heights, South Korea faces the challenge of managing over half a million tons of waste daily, seven times more than Finland. Astonishingly, packaging waste accounts for a staggering 46% of the total plastic waste in the country.
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Sustainable Packaging Market Overview:
MMR recently published a Sustainable Packaging Market report. The report offers a comprehensive analysis of the Sustainable Packaging Market, including industry revenue, Market leaders, and followers across different regions and countries worldwide. It provides valuable forecasts in terms of value.
Sustainable Packaging Market Report Scope and Research Methodology:
The report includes a detailed competitive analysis of Market drivers, restraints, opportunities, and growth prospects for the Sustainable Packaging Market. It presents an industry profile, Market strategies, status, and core competitors, along with factors that may impact the industry positively or negatively, offering clear insights to decision-makers such as investors and stakeholders. The report analyses key players in the Sustainable Packaging Market, including their size, Market share, revenue, growth, production volume, and profitability. It also offers regional coverage of key industries, measuring their dominance with key manufacturers.
Sustainable Packaging Market Regional Insights:
Asia-Pacific dominated the Market, holding the highest Market share in terms of revenue generation. This trend is expected to persist throughout the forecast period, with continual growth anticipated. The growth in the Sustainable Packaging Market is attributed to favourable government policies, increased investments, and significant expansion opportunities in China, Japan, and India. These factors are expected to drive the continued growth of the Sustainable Packaging Market in the region.
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Sustainable Packaging Market Segmentation:
by Material Type
1. Paper and Paperboard
2. Plastics
1. Biodegradable
2. Bio-based
3. Aluminum
4.Others
In 2022, the paper and paperboard segment had the highest revenue share of 21.2%, determined by Material Type. An encouraging trend that indicates a rising understanding of the need for sustainable packaging solutions is the increasing demand for sustainable paper and paperboard materials for the import and export of packaging products. It is anticipated to increase in the upcoming years as a move towards a more sustainable future.
by Packaging Type
1. Rigid Packaging
2. Flexible Packaging
According to packaging type, the segment with rigid packaging held a significant market share of approximately 18.2% in 2022 and is anticipated to continue doing so throughout the projected period. A lot of businesses are making rigid packaging goods with sustainable materials.
by End User
1. Pharmaceutical and Healthcare
2. Cosmetics and Personal Care
3. Food and Beverage
4. Other End Users
The food and beverage segment held a notable market share of approximately 56.3% in 2022, and it is anticipated to continue growing during the forecast period, according to the End User. Many businesses are employing recycled plastics in their packaging, either by developing new packaging solutions that are composed completely of recycled materials or by adding recycled content to their current packaging. The food and beverage industry is also seeing an increase in the use of reusable packaging. Reusable packaging options, such refilling receptacles or packaging that can be sent back to the manufacturer for further use, are being investigated by certain businesses.
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Sustainable Packaging Market Key Players are:
1. Sonoco Products Company
2. Amcor pie
3. Gerresheimer AG
4. Smurfit Kappa
5. Ball Corporation
6. BASF SE
7. Ardagh Group S.A.
8. Crown Holding,Inc.
9. WestRock Company
10. DS Smith
11. Mondi
12. International Paper
13. Berry Global
14. Printpack
15. Sealed Air
16. Stora Enso Oyj
17. Georgia-Pacific
18. Huhtamaki
19. Genpak,LLC
20. Tetra Pak InternationalS.A.
21. Billerud
22. Albea S.A.
23. HCP Packaging
Key questions answered in Sustainable Packaging Market are:
- What is Sustainable Packaging?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Sustainable Packaging Market?
- Which factors are the lucrative opportunities for the Sustainable Packaging Market growth?
- Which factors are limiting the scope of Sustainable Packaging Market ?
- How is the intervention from regulatory authority is shaping the Sustainable Packaging Market?
- What growth strategies are the key players considering to increase their presence in Sustainable Packaging Market?
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Key Offerings:
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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