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Sustainable Packaging Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024

Sustainable Packaging Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024

  • August 2018
  • 100 pages
  • ID: 5566931
  • Format: PDF
  • By Infinium

Summary

Table of Contents

The report on global sustainable packaging market provides qualitative and quantitative analysis for the period of 2016 to 2024.

The report predicts the global sustainable packaging market to grow with a CAGR of 5.1% over the forecast period of 2018-2024. The study on sustainable packaging market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific and RoW for the period of 2016 to 2024.
The increasing environmental consciousness among the people is the key factor that is driving the sustainable packaging market. The use of non-biodegradable plastics causes various harmful effects on the environment such as landfill, soil pollution, and loss of the soil fertility. Owing to these reasons stringent regulations are implemented by several governments to improve the conditions of the environment. There are certain regions where the use of plastic bags is completely banned, thus triggering the growth of the sustainable packaging market. The factors that are affecting the market growth in a negative way are the low availability, high price as compared to the plastics packaging. The raw materials that are required such as liquid biofuels, bio-polymers used in films, bio-based monomers, cellulosic and recyclable fiber, and additives are expensive which is affecting the sustainable packaging market. However, the growth of the market is witnessing few setbacks owing to the high cost of production of sustainable packaging products as compared to conventional packaging products and the lack of awareness by masses, especially in low-income countries. Nevertheless, the market is likely to witness attractive prospects from the initiatives taken by governments in several emerging economies to support environmental-friendly packaging. To this end, they have framed numerous legislations promoting the use of eco-friendly materials in the packaging industry among customers.
Geographically, the sustainable packaging market is diversified into regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. Asia pacific is the fastest growing region in terms of CAGR. The factors that favor for the market growth are the large consumer base and the increasing per capita expenditure. The growth in the sustainable packaging market in the North American region is owing to the stringent government regulations and the increasing consumer preferences.
Recent developments:-
Kraft Heinz Expands Environmental Commitments to Include Sustainable Packaging and Carbon Reduction
In July 2018, As part of its commitment to reduce natural resource needs and manage overall environmental footprint, The Kraft Heinz Company launched the expansion of its environmental stewardship strategy to include time-bound targets for achieving greater packaging sustainability and setting science-based goals to reduce greenhouse gas emissions. Specifically, Kraft Heinz supported the move toward a circular economy and aimed to make 100 percent of its packaging globally recyclable, reusable or compostable by 2025.
ICELAND foods is going for renewable packaging with two major product launched
In February 2018, Iceland Foods, the UK’s leading specialist retailer in the frozen food category, redefined the ready meals market with two new major product ranges launched in February and packed in paperboard trays. With its 900 stores, Iceland Foods accounts for 30% of frozen ready meal sales in the UK, and the business is growing. The ready meal is improving in quality and becoming more diverse, with food trends arriving from around the world – and it is convenient to cook very quickly from frozen. Until now, ready meal trays have been mostly made of black plastic, which was not recycled and also was one of the plastics potentially entering in food stream from the oceans. So, company needed a change.
Hershey launched more sustainable packaging
In July 2017, Hershey launched an innovative new packaging approach that the company developed in 2016 to reduce corrugate waste, lessen its carbon footprint and improve sustainability efficiencies across the supply chain. The new design for Hershey’s packaging and display ready case (DRC) model at the retail level includes less packaging and uses 32 percent less material, including 3.12 fewer pounds of corrugate. This innovative approach also helped to save significant costs, reduced retail customers’ display setup time by 62 percent and even improved safety.
VTT Launched Lightweight, 100% Bio-Based Stand-Up Pouches
In March 2017, VTT Technical Research Centre of Finland launched a lightweight, 100 percent bio-based stand-up pouches with high technical performance. The product, made from renewable raw materials and nanocellulose, would help to reduce food waste while also providing companies with a sustainable packaging option. This pouch solution offers an environmentally friendly option for the global packaging industry. Additionally, VTT’s patent-pending, high consistency enzymatic fibrillation of cellulose (HefCel) technology provided a low-cost method for the production of nanocellulose, resulting in a tenfold increase in the solids content of nanocellulose. The resulting nanocellulose is in the consistency of 15 percent to 25 percent, compared to traditional nanocellulose production methods, which result in 1 percent to 3 percent consistency.
Carrefour launched the first Spanish UHT milk in ecologically sustainable packaging
In January 2017, Carrefour became the first distribution firm to market Spanish UHT milk in an ecologically sustainable packaging called Combibloc EcoPlus, thereby reducing CO2 emissions by 28% compared with the former packaging system. This has been achieved by replacing the aluminium cap on any carton of milk with a polyamide one, while preserving the quality of the milk. The product is available in three formats: whole, semi-skimmed and skimmed. Carrefour is currently developing a packaging ecodesign plan. Some of the key benefits of this initiative would be the elimination of unnecessary packaging, the reduction of raw materials, the optimization of container and package size thus reducing the number of vehicles required for transportation, and the use of sustainable, recycled and recyclable materials.

The report on sustainable packaging market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global sustainable packaging market over the period of 2016 to 2024. Moreover, the report is collective presentation of primary and secondary research findings.
Porter’s five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global sustainable packaging market over the period of 2016 to 2024. Further, IGR- Growth Matrix given in the report brings an insight on the investment areas that existing or new market players can consider.

Research Methodology

A) Primary Research
Our primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached through
1. Key Opinion Leaders associated with Infinium Global Research
2. Internal and External subject matter experts
3. Professionals and participants from LinkedIn, Hoovers, Factiva and Bloggers

Our primary research respondents typically include
1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/ country managers
5. Vice President level executives.

B) Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.

The secondary sources of the data typically include
1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies

Segment Covered
The global sustainable packaging market is segmented on the basis of material, packaging type and application.

Global Sustainable Packaging Market by Material
- Paper & Paperboard
- Plastic
- Others
Global Sustainable Packaging Market by Packaging Type
- Trays
- Bags
- Boxes
- Bottles & Jars
- Films
- Pouches & Sachets
- Drums
- IBC
- Others
Global Sustainable Packaging Market by Application
- Food
- Beverages
- Automobile & Electronics
- Chemical
- Pharmaceutical
- Agriculture
- Cosmetics And Personal Care

Company Profiles
- Sonoco Products Company
- Amcor Limited
- Gerresheimer AG
- Smurfit Kappa Group PLC
- Ball Corporation
- Ardagh Group S.A
- Crown Holdings, Inc.
- WestRock LLC
- DS Smith Plc
- The Mondi Group plc

How this report delivers?
1. Comprehensive analysis of global as well as regional markets of sustainable packaging market.
2. Complete coverage of all the segments in sustainable packaging market to analyze the trends, developments in the global market and forecast of market size up to 2024.
3. Comprehensive analysis of the companies operating in global sustainable packaging market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. IGR- Growth Matrix presents analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.

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