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| Global Sustainable Packaging Market Size |
Sustainable packaging refers to packaging products and systems that are
designed, produced, and used in a way that supports environmental, social and
economic sustainability throughout its entire lifecycle. Sustainable packaging
helps reduce carbon footprint, conserve natural resources and prevents
pollution. It is widely used in food and beverage, healthcare, personal care
and other industries.
The global
Sustainable Packaging Market is estimated to be valued at US$ 302.64 Bn in 2023 and is
expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as
highlighted in a new report published by Coherent Market Insights.
Market key trends (200 words):
Adoption of environment friendly packaging is a key trend being witnessed in
the sustainable packaging market. Rising concerns over plastic pollution and
depletion of natural resources are driving companies to shift towards
sustainable alternatives like paper packaging, bioplastics and biodegradable
materials. Government regulations in various countries restricting use of
single use plastics are further accelerating this shift. Many companies are
opting for sustainable packaging to garner consumer attention towards their
brands and improve market share. They are able to charge premium prices for products
packaged sustainably. Innovation in packaging materials is another trend as
companies are investing heavily in R&D to develop innovative and viable
solutions like bioplastics, edible films and recyclable material alternatives
which can replace plastic and other non eco friendly materials. Such
innovations will help drive future growth of sustainable packaging market.
Segment
Analysis
The global sustainable packaging market is dominated by the reusable packaging
segment which accounts for over 30% of the market share. Sustainable reusable
packaging such as glass bottles, jars, drums and IBCs are gaining widespread
popularity as they can be reused multiple times, reducing landfill waste and
the need for additional resources to produce new packaging. Several leading
FMCG and food & beverage brands are switching to reusable packaging for
their products to meet sustainability goals.
Key Takeaways
Global
Sustainable Packaging Market Size is expected to witness high growth over the
forecast period of 2024 to 2031 driven by stringent government regulations
regarding single-use plastics and rising awareness among consumers about
environment protection.
North America dominates the global sustainable packaging market with over 35%
market share owing to strict regulations around plastics and waste management
in the region. Moreover, presence of several sustainability focused brands
promoting reusable packaging is further driving the market in North America.
Asia Pacific is expected to be the fastest growing regional market for
sustainable packaging during the forecast period supported by growing consumer
demand and emerging regulations around packaging materials in countries such as
China, India and Japan.
Key players operating in the sustainable packaging market are KaVo Dental,
Nakanishi inc., Foshan Gladent medical instrument Co.,Ltd, TEALTH FOSHAN
MEDICAL EQUIPMENT CO., LTD, Chirana, coxo Medical Instrument Co., Ltd., Dabi
Atlante, Carlo De Giorgi, Henry Schein, Inc., DENTALEZ, Inc., Aseptico Inc.,
Sinol Dental Limited., Guilin Woodpecker Medical Instrument Co.,Ltd., MDK
Dental, Beyes, NINGBO HPDOVE DENTAL INSTRUMENTS CO., LTD., Ivoclar Vivadent Pty
Ltd. Leading market players are focusing on developing innovative sustainable
packaging solutions using recycled content to meet the constantly evolving
compliance measures and consumer demand.
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