Research Nester released a report titled “Sustainable Packaging Market: Outlook, Industry Analysis & Opportunity Evaluation – 2017-2027” which delivers detailed overview of the global sustainable packaging market in terms of market segmentation by material type, process, type of packaging, layers, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Packaging is a crucial element that plays a critical role during the process of manufacture of products, as it possesses tremendous potential to allure new consumers towards a product. The increasing usage of paper and paper boards for creating container boards, paper bags and shipping sacks among various industries such as food and beverages, cement manufacturing, medicine industry, glassware industry and others is predicted to positively impact the market over the forecast period. As per the current trends, the global sustainable packaging market is estimated to attain market size of around USD 41, 2700 million by 2027 by growing at a CAGR of 6.23% over the forecast period (2020-2027).
The growing consumer goods industry is propelling the demand for both branded and unbranded products and with diversifying consumer demands, a rise in consumption of various product segments has accelerated the demand for a varied range of sustainable packaging across various product lines. Besides, several other factors that are driving the growth of the market predominantly includes the multiple uses of sustainable packaging, as they are reusable, bio-degradable and recyclable combined with rising concerns for the environment pertaining to reduction of carbon footprint that is responsible for global warming among the stakeholders that include consumers, manufacturers and retailers.
Geographically, the market in North America region is estimated to hold leading shares in 2027 on the back of rising disposable income of the population, especially in the Unites States. Moreover, the growing initiatives by companies in Canada to hone the utilisation of sustainable packaged food products is estimated to boost the growth of the market in North America region.
However, price fluctuations related to raw-materials in different countries might hamper the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the sustainable packaging market which includes company profiling of DOW Chemical Company, BASF SE, DS Smith, International Paper Company, Amcor Limited, Transcontinental Inc., Sappi Limited, Tetra Pak International S.A., Silgan Holdings Inc., Mondi PLC, Sealed Air Corporation, Huhtamaki OYJ, Smurfit Kappa Group PLC, Sonoco, Bemis Company, Orora and other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the sustainable packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.