$19.19 Bn Sustainable Packaging Market Industry Trends and Global Forecasts to 2035 - ResearchAndMarkets.com

The "Sustainable Packaging Market Industry Trends and Global Forecasts to 2035, by Type of Eco Friendly Packaging, Type of Packaging, Type of Packaging Container, Type of End Users and Key Geographical Regions" report has been added to ResearchAndMarkets.com's offering.

The global sustainable packaging market is estimated to grow from USD 9.67 billion in the current year to USD 19.19 billion by 2035, at a CAGR of 6.43% during the forecast period, till 2035.

In the pharmaceutical industry, glass, plastic, metals, cardboard and wood are some of the most commonly used raw materials for primary packaging. However, a significant amount of waste is produced from these conventional raw materials, primarily due to their inability to decompose naturally. It is worth highlighting that over 500 million tons of waste is generated through pharmaceutical packaging globally.

Notably, 30% of the plastic packaging materials are either too complex or too small to recycle; examples include sachets and wrappers. This has led to a negative impact on the environment. Moreover, the steadily expanding pipeline of pharmaceutical drug candidates has resulted in a growing demand for packaging solutions. This has compelled packaging providers to develop sustainable / green packaging materials in order to reduce the harmful impact posed on the environment.

In recent years, plastics made from corn starch, sugarcane and cassava have emerged as a promising alternative to conventional packaging solutions. These novel and sustainable packaging raw materials are likely to eliminate the risk of environmental pollution arising from the pharmaceutical industry. Owing to the growing need for sustainable packaging materials, increasing consumer awareness, numerous advantages over conventional packaging materials and rising interest of investors in this domain, the sustainable packaging market is anticipated to experience significant market growth during the forecast period.

Sustainable Packaging Market: Key Segments

Biodegradable Packaging is the Fastest Growing Segment of the Sustainable Packaging Market

Based on the type of eco-friendly packaging, the market is segmented into biodegradable and recyclable / reusable. Biodegradable packaging material segment is likely to grow at a relatively higher CAGR during the forecast period. These materials have lesser deleterious effects when compared to recyclable / reusable packaging materials as they do not release harmful toxins and chemicals while their decomposition in the environment. It is worth highlighting that majority of the current sustainable packaging market is captured by recyclable / reusable packaging. This can be attributed to the high production rates, ease of availability and increased shelf life of recyclable / reusable packaging materials.

Primary Packaging Segment Occupies the Largest Share of the Sustainable Packaging Market During the Forecast Period

Based on the type of packaging, the market is segmented into primary, secondary and tertiary packaging. It is worth highlighting that primary packaging is likely to dominate the market in the coming decade. This can be attributed to the fact that primary packaging plays an essential role in ensuring the quality and hygiene of the product.

Boxes / Cartons Segment is Likely to Dominate the Sustainable Packaging Market During the Forecast Period

Based on the type of pharmaceutical secondary packaging container, the market is segmented into boxes / cartons and pouches. The sustainable packaging market for boxes / cartons is likely to grow at a higher CAGR during the forecast period. It is worth noting that boxes / cartons are suitable to transport a huge number of products with increased strength and durability.

Pharmaceutical and Biotechnology Companies Segment Accounts for the Largest Share of the Sustainable Packaging Market

Based on the end-users, the market is segmented into pharmaceutical and biotechnology companies, research institutes and other users. It is worth highlighting that the market is primarily driven by revenues generated by pharmaceutical and biotechnology companies. This can be attributed to the widespread adoption of sustainable packaging by pharmaceutical and biotechnology companies to enclose various drugs and medical devices. This trend is unlikely to change in the near future.

Asia-Pacific Accounts for the Largest Share of the Market

Based on key geographical regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East and North Africa, Latin America, and the Rest of the World. Currently, Asia-Pacific holds the maximum share of the sustainable packaging market. This can be attributed to the growing consumer awareness, stringent regulations and increasing demand for sustainable packaging solutions. Additionally, the growing population and expanding customer base for pharmaceutical and healthcare products have also fueled market growth in this region. It is worth highlighting that, over the years, the market in Latin America is expected to grow at a higher CAGR.

Sustainable Packaging Market: Key Insights

• Presently, over 110 players are engaged in offering sustainable packaging products and / or services; around 85% of these players are headquartered in the developed markets.
• Over 90% of sustainable packaging providers offer products and / or services related to recyclable packaging; among these, more than 60% of the providers use raw materials of natural origin for their products.
• In pursuit of building a competitive edge, stakeholders are actively upgrading their existing capabilities and enhancing their respective sustainable packaging portfolio to comply with the evolving industry benchmarks.
• The growing interest in this domain is evident from the rise in partnership activity; in fact, the maximum number of collaborations related to sustainable packaging in the last few years.
• Foreseeing lucrative returns, many public and private investors have made investments worth over USD 10 billion; the funding activity is well distributed across North America and Europe.
• Driven by the growing environmental degradation due to conventional packaging materials, the demand for sustainable packaging has steadily risen; by 2035, this demand is anticipated to cross over 110 billion units.
• Owing to the shift in consumer preferences towards sustainable packaging, the market is poised to witness substantial growth in the next decade.
• With the rapid increase in the waste generated due to conventional packaging materials, the opportunity for companies offering sustainable packaging is poised to grow at a CAGR of close to 7%.

Key Questions Answered in this Report

• How many companies are currently engaged in this market?
• Which are the leading companies in this market?
• What kind of partnership models are commonly adopted by industry stakeholders?
• What is the current annual demand for sustainable packaging solutions?
• What factors are likely to influence the evolution of this market?
• What is the current and future market size?
• What is the CAGR of this market?
• How is the current and future market opportunity likely to be distributed across key market segments?

Key Players in the Sustainable Packaging Market include:

• Amcor
• Berry Global
• Bormioli Pharma
• Drug Plastics
• DS SMITH
• EPL
• Gerresheimer
• Greiner Packaging
• Huhtamaki
• International Paper
• MM Board & Paper
• Mondi
• PGP GLASS
• PPC Flexible Packaging
• SGD Pharma
• Smurfit Kappa
• Stoelzle Glass
• Syntegon
• Takemoto Packaging
• Tekni-Plex

Primary Research Overview

The opinions and insights presented in this study were influenced by discussions conducted with multiple stakeholders. The research report features detailed transcripts of interviews held with the following industry stakeholders:

• Founder, Packaging Guru
• International Key Account Manager, eutecma
• Chief Executive Officer, Softbox Systems
• Head of Product Development / Technical Support Medical, Coveris
• Head of Strategic Marketing and Business Development, Korber
• Innovation Manager, Bormioli Pharma
• Anonymous, A Finland-Based Large Company

Key Topics Covered:

1. Preface

2. Research Methodology

3. Economic And Other Project Specific Considerations

4. Executive Summary

5. Introduction

6. Market Landscape

7. Detailed Company Profiles

8. Short Company Profiles

9. Company Competitiveness Analysis

10. Partnerships And Collaborations

11. Funding And Investments

12. Market Impact Analysis: Drivers, Restraints, Opportunities And Challenges

13. Demand Analysis

14. Global Sustainable Packaging Market

15. Sustainable Packaging Market, By Type Of Eco-Friendly Packaging

16. Sustainable Packaging Market, By Type Of Packaging

17. Sustainable Packaging Market, By Type Of Packaging Container

18. Sustainable Packaging Market, By End-Users

19. Sustainable Packaging Market, By Key Geographical Regions

20. Conclusion

21. Executive Insights

22. Appendix 1: Tabulated Data

23. Appendix 2: List Of Companies And Organizations

Additional Benefits

• Complimentary PPT Insights Packs
• Complimentary Excel Data Packs for all Analytical Modules in the Report
• 10% Free Content Customization
• Detailed Report Walkthrough Session with Research Team
• Free Updated report if the report is 6-12 months old or older

For more information about this report visit https://www.researchandmarkets.com/r/d9eutx

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