Sustainable
Plastic Packaging Market worth $117.3 billion by 2025

The report "Sustainable
Plastic Packaging Market
by Packaging Type (Rigid, Flexible, Industrial), Packaging Format (Primary,
Secondary, Tertiary), Process (Recyclable, Reusable, Biodegradable), End-use
Sector, and Region - Global Forecast to 2025"
The global sustainable plastic packaging market size is projected to grow from
USD 89.0 billion in 2020 to USD 117.3 billion by 2025, at a CAGR of 5.6% during
the forecast period.

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Browse in-depth TOC on "Sustainable Plastic
Packaging Market"

248 - Tables

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205 – Pages

The global sustainable plastic packaging market size is
projected to grow from USD 89.0 billion in 2020 to USD 117.3 billion by 2025,
at a CAGR of 5.6% during the same period. The market is projected to grow in
accordance with the growth of various end-users of sustainable plastic
packaging across the globe.

The sustainable plastic packaging industry has been
growing as a result of stringent laws and regulations levied by governments and
governing bodies, as well as a shift in consumer preference toward recyclable
and eco-friendly packaging materials. Apart from these factors, downsizing of
packaging and breakthrough in new technologies are also driving the sustainable
plastic packaging market globally.

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In terms of value and volume, the biodegradable segment
is estimated to be the fastest-growing process in the sustainable plastic packaging
market between 2020 and 2025.

Biodegradable plastic decomposes naturally in the
environment. This is achieved when microorganisms in the environment metabolize
and break down the structure of biodegradable plastic. It is less harmful to
the environment than traditional plastics. Biodegradable plastics can be
composed of bioplastics manufactured from renewable raw materials. Innovation
plays a key role in the biodegradable plastic packaging market. Several
companies are investing in R&D in search of new packaging materials that are
beneficial in use and non-toxic to the environment.

The food & beverage segment is estimated to be the
largest end-use sector in the sustainable plastic packaging market in 2019.

The food & beverage industry is a major one in the
sustainable packaging market. The primary function of food & beverage
packaging is to reduce food loss and increase the shelf-life of food products.
The global players are aiming at using innovative packaging materials developed
from degradable and recyclable materials in order to achieve sustainability.
Consumers seek convenience food solutions due to lack of time. The expectations
of food quality, hygiene, and growing health awareness are driving the sustainable
packaging market in the food & beverage sector.

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APAC is projected to account for the largest share in the
sustainable plastic packaging market during the forecast period.

The APAC region is projected to lead the sustainable
plastic packaging market, in terms of both value and volume, between 2020 and
2025. According to the World Bank, in 2017, APAC was the fastest-growing region
in terms of both population and economic growth. Countries such as India and
China are expected to post high growth in the sustainable plastic packaging
market due to growing developmental activities and rapid economic expansion.
The growing population in these countries presents a huge customer base for
FMCG products and consumer durables.

The growing awareness among the masses about the
importance of eco-friendly, renewable packaging, the growing food &
beverage industry, and low manufacturing and labor costs are driving the
sustainable plastic packaging market in APAC.

The key players in the sustainable plastic packaging
market included in this report are Amcor PLC (Australia), Sonoco Products
Company (US), Sealed Air Corporation (US), Huhtamaki OYJ (Finland), Smurfit
Kappa Group PLC (US), Mondi Group (South Africa), Uflex Ltd. (India), Berry
Global Inc. (US), Constantia Flexibles (Austria), and AptarGroup (US).
Acquisitions and new product developments are some of the major strategies
adopted by these key players to enhance their positions in the sustainable
plastic packaging market.

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