Sustainable plastic not only decomposes naturally but also keeps the environment clean by reducing packaging waste. Sustainable plastic packaging is less harmful to the environment compared to traditional plastic packaging which causes further destruction. It is biodegradable and eco-friendly which makes it an ideal choice for manufacturers as well as customers.
Sustainable plastic packaging is light in weight and convenient to transport compared to other customary bulky packaging materials. It also takes less area and allows more space for other materials to be transported. Sustainable plastic packaging could also be recycled and reused. Its features like tensile strength, lightweight, transparency make it more visually appealing and also user friendly to the customers. Sustainable plastic packaging comes in flexible and rigid packaging formats. Flexible packaging is preferred by customers for lighter and more convenient goods, while rigid packaging is ideal for bulky and hefty goods.
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Sustainable Plastic Packaging Market – Dynamics
Due to various green initiatives taken by conglomerates towards reducing plastic packaging, companies are now adopting ecological packaging material which decomposes easily and reduces carbon footprint. Sustainable plastic packaging is highly used in the food industry as store and take-out food containers, labels and tags, wraps and packets among others. The growth of the food industry all over the world is helping sustainable plastic packaging industry to intensify its demand.
Users are also demanding sustainable packaging so that they can reuse it well ahead. Sustainable plastic packaging is additionally segmented into Healthcare, Personal & Household Care Electronics and others based on end-use and the share to these segments is continuously increasing. With the arrival of e-commerce, the demand for sustainable plastic packaging is increased in the market. Food delivery, commodities delivery and other material deliveries extensive use plastic packaging and are switching towards more organic and sustainable plastic packaging materials. Due to ongoing innovations and advancements, sustainable plastic packaging is revamped and updated to support nature and reduce carbon footprints. One of these type pf sustainable plastic packaging includes starch-based plastics which are made from corn starch and degrade very easily. These types of sustainable plastics are called Bioplastics and Polyactide (PLA) plastics.
Sustainable Plastic Packaging Market – Segmentation
The global sustainable plastic packaging market is segmented by material type, packaging type, and end-use. The pricing for sustainable plastic packaging has being done based on material type segment in US$/ton, and the volume is considered in tons.
Segmentation of Sustainable Plastic Packaging Market on the basis of Material Type:
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Poly Lactic Acid (PLA)
- Starch Based
- Other Plastic
Segmentation of Sustainable Plastic Packaging Market on the basis of Packaging Type:
- Flexible
- Rigid
- Industrial
Segmentation of Sustainable Plastic Packaging Market on the basis of End Use:
- Food & Beverage
- Healthcare
- Personal & Household Care
- Electronics
- Others
Sustainable Plastic Packaging Market – Key Players
Sustainable Plastic Packaging Market is an extremely competitive market with presence of a portion of large and small players. Some of the key players in the sustainable plastic packaging market are as follows:
- Amcor PLC
- Smurfit Kappa
- Mondi PLC
- Sonoco Products Company
- Huhtamaki Oyj
- Berry Global Group Inc.
- Genpak LLC
- Aptargroup’s Right to Win
- Sealed Air Corporation
- Constantia Flexibles
- Novamont S.P.A
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Sustainable Plastic Packaging Market – Regional Outlook
Sustainable plastic packaging revolutionized retail markets all over the world and became the ultimate choice for many retail chains and manufacturers.
Sustainable plastic packaging is extremely popular in North America and Europe due to its benefits and high disposable income of retail shoppers. However, these are pretty mature markets for sustainable plastic packaging and don’t hold highly incremental opportunities for market players in future. In the Asia Pacific regions, China is the biggest manufacturer of sustainable plastic packaging. It is also the greatest exporter. India is also one of the leading consumer markets of sustainable plastic packaging in the Asia Pacific. The demand and supply for sustainable plastic packaging are comparatively slow in the Middle East and African regions.
The sustainable plastic packaging market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report on sustainable plastic packaging market provide in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies of the sustainable plastic packaging market.
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