Market Size of Sustainable Packaging Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 292.71 Billion |
Market Size (2029) | USD 423.56 Billion |
CAGR (2024 - 2029) | 7.67 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Sustainable Packaging Market Analysis
The Sustainable Packaging Market size is estimated at USD 292.71 billion in 2024, and is expected to reach USD 423.56 billion by 2029, growing at a CAGR of 7.67% during the forecast period (2024-2029).
- Sustainable packaging involves developing and utilizing packaging solutions that enhance sustainability. It relies heavily on life cycle assessments and inventories to guide decisions and minimize environmental impact.
- In recent years, consumer interest in sustainability has surged significantly. The rise of circular economics has further underscored the importance of sustainable packaging. Governments worldwide, responding to public concerns over packaging waste, particularly single-use plastics, are enacting stringent regulations to curb environmental harm and bolster waste management.
- Leading the charge, countries like France, Germany, and the United Kingdom are not only enforcing robust recycling measures within the European Union but are also adopting extended producer responsibilities (EPRs). In Asia, Thailand implemented a nationwide ban on single-use plastic bags in major stores starting January 1, 2020, with the ultimate goal of reducing plastic pollution.
- According to the Ocean Conservancy statistics, 8 million metric tons of plastic enter the oceans annually, adding to the estimated 150 million metric tons already present. This is a critical issue. To put this in perspective, it is akin to dumping a New York City garbage truck's load of plastic into the ocean every minute for a year. The survey identifies 2025 as a pivotal year for eco-friendly packaging, with over 40% of respondents planning to adopt innovative and sustainable packaging techniques. Companies are increasingly pivoting toward a circular economy, utilizing compostable materials and biodegradables and rethinking container designs to reduce waste.
- However, the use of non-recyclable, non-biodegradable plastic packaging is on the rise, exacerbating carbon emissions. In response, major corporations like Amazon, Google, and Tetrapak are setting ambitious targets, aiming for net-zero carbon emissions, a move expected to entail significant capital investments.
Sustainable Packaging Industry Segmentation
Sustainable packaging is the development and use of packaging, resulting in improved sustainability. The study aims to analyze and understand the sustainable packaging market's current growth, opportunities, and challenges. The sustainable packaging market is segmented by process (reusable packaging, degradable packaging, and recycled packaging), material type (glass, plastic, metal, and paper), end user (pharmaceutical and healthcare, cosmetics and personal care, food and beverage, and other end users), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
By Process | |
Reusable Packaging | |
Degradable Packaging | |
Recycled Packaging |
By Material Type | |
Glass | |
Plastic | |
Metal | |
Paper |
By End User | |
Pharmaceutical and Healthcare | |
Cosmetics and Personal Care | |
Food and Beverage | |
Other End Users |
By Geography | |
North America | |
Europe | |
Asia-Pacific | |
Latin America | |
Middle East and Africa |
Sustainable Packaging Market Size Summary
The sustainable packaging market is experiencing significant growth, driven by increasing consumer interest in sustainability and the adoption of circular economy principles. This shift has prompted governments worldwide to implement regulations aimed at reducing packaging waste, particularly single-use plastics. Countries in Europe, Asia, and beyond are taking proactive measures, such as Extended Producer Responsibilities and bans on single-use plastics, to mitigate environmental impact. The market is characterized by a growing demand for innovative packaging solutions that utilize biodegradable and compostable materials, as well as advancements in bio-based PVCs and PLA plastics. These developments are supported by major companies striving for net-zero carbon emissions and the adoption of sustainable practices across various industries.
The market landscape is highly fragmented, with key players like Amcor Limited, TetraPak International SA, and WestRock Company leading the charge in sustainable packaging initiatives. Collaborations and partnerships are becoming increasingly common, as seen in recent efforts to develop recyclable and circular packaging solutions. The rise of e-commerce and the expanding middle class in regions like India further fuel the demand for eco-friendly packaging that minimizes environmental impact while maintaining product quality. Consumer behavior is also shifting, with a significant portion of the population prioritizing sustainability in their purchasing decisions, thereby influencing companies to adopt more sustainable packaging methods.
Sustainable Packaging Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Value Chain Analysis
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1.3 Industry Attractiveness: Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Buyers
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1.3.3 Threat of New Entrants
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1.3.4 Intensity of Competitive Rivalry
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1.3.5 Threat of Substitute Products
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1.4 Assessment of the Impact of Microeconomic Factors on the Industry
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2. MARKET SEGMENTATION
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2.1 By Process
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2.1.1 Reusable Packaging
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2.1.2 Degradable Packaging
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2.1.3 Recycled Packaging
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2.2 By Material Type
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2.2.1 Glass
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2.2.2 Plastic
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2.2.3 Metal
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2.2.4 Paper
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2.3 By End User
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2.3.1 Pharmaceutical and Healthcare
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2.3.2 Cosmetics and Personal Care
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2.3.3 Food and Beverage
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2.3.4 Other End Users
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2.4 By Geography
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2.4.1 North America
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2.4.2 Europe
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2.4.3 Asia-Pacific
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2.4.4 Latin America
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2.4.5 Middle East and Africa
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Sustainable Packaging Market Size FAQs
How big is the Sustainable Packaging Market?
The Sustainable Packaging Market size is expected to reach USD 292.71 billion in 2024 and grow at a CAGR of 7.67% to reach USD 423.56 billion by 2029.
What is the current Sustainable Packaging Market size?
In 2024, the Sustainable Packaging Market size is expected to reach USD 292.71 billion.