Meticulous Research®—a leading global market research company, published a research report titled, ‘Sustainable Packaging Market by Type (Recyclable, Reusable, Degradable), Material (Plastic, Paper & Paperboard, Bamboo, Metal, Others), Layer (Primary, Others), Sector (F&B, Automotive, Cosmetic & Beauty, Others), & Geography - Global Forecast to 2031.
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According to the latest publication by Meticulous Research®, the global sustainable packaging market is projected to reach $518.5 billion by 2031, growing at a CAGR of 6.9% from 2024 to 2031. This growth is driven by government policies promoting eco-friendly packaging and a shift in consumer preferences towards environmentally friendly products. However, the high cost of sustainable packaging remains a challenge for market growth.
The increase in e-commerce sales, the rising emphasis on sustainability among companies, and the growing focus on promoting a circular economy are expected to create opportunities for stakeholders. However, concerns about durability and product lifecycle, along with inadequate recycling practices and infrastructure, pose challenges to market growth. The emergence of sustainable packaging alternatives is a notable trend in this market.
Market Segmentation and Dynamics:
By Type:
The market is segmented into recyclable packaging, reusable packaging, and degradable packaging. In 2024, recyclable packaging is expected to account for the largest share, over 57%, driven by the widespread use of recyclable materials in packaging to conserve resources, reduce emissions, and decrease landfill waste. Major companies like Nestlé S.A., Hindustan Unilever Limited, and The Coca-Cola Company are actively adopting recycling strategies. The degradable packaging segment is expected to record the highest CAGR, driven by the increasing demand for degradable packaging formats such as bags, boxes, and pouches.
By Material:
The market is segmented into paper & paperboard, plastic, metal, glass, wood, bamboo, and other materials. In 2024, the paper & paperboard segment is expected to account for the largest share, over 42%, driven by its use in food packaging across restaurants and the demand for corrugated cardboard, folding boxes, and cartons in e-commerce. Companies are introducing recyclable paper & paperboard packaging solutions, such as AB Electrolux’s recycled and paper-based packaging. The bamboo segment is projected to register the highest CAGR, driven by its eco-friendly, renewable, and biodegradable properties.
By Layer:
The market is segmented into primary, secondary, and tertiary layers. In 2024, the primary segment is expected to account for the largest share, over 46%, driven by consumers' preference for eco-friendly packaging, the use of sustainable packaging in primary packaging, and the demand for primary packaging in the food & beverage and pharmaceutical sectors. The primary segment is also projected to register the highest CAGR, driven by the focus on sustainable packaging and the growth of e-commerce.
By Geography:
In 2024, Asia-Pacific is expected to account for the largest share, over 44%, driven by consumer awareness about sustainable packaging, demand for food & beverage packaging, and the presence of manufacturers in the region. The Asia-Pacific region is also projected to register the highest CAGR, 8.0%, driven by urban population growth, rising disposable incomes, increased e-commerce spending, government regulations, evolving consumer preferences, and environmental concerns.
Key Players:
Key players in the sustainable packaging market include Mondi plc, Amcor plc, Tetra Pak International S.A., Sealed Air Corporation, Ball Corporation, Crown Holdings, Inc., Smurfit Kappa Group plc, Berry Global Group, Inc., International Paper Company, Huhtamäki Oyj, Sonoco Products Company, Elopak AS, DS Smith Plc, ECOPACKABLES, and Better Packaging Co. These companies are driving innovation and shaping market dynamics.
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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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