Sustainable Packaging Market Size Anticipated to Reach USD 19.19 billion by 2035

Sustainable Packaging Market Growth at CAGR of Around 6.5% by 2035, Due to the Growing Demand For Eco-friendly Packaging in the Healthcare Industry| Roots Analysis

According to our latest market report “Sustainable Packaging Market, Till 2035 by Type of Eco friendly Packaging, Type of Packaging, Type of Packaging Container, End-users and Key Geographical Regions: Industry Trends and Global Forecasts”, the global sustainable packaging market size is projected to reach USD 19.19 billion by 2035, growing at a CAGR of 6.43% in the forecast period 2024-2035.

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Sustainable / green packaging materials have the ability to decompose naturally in the environment and help in reducing the amount of carbon dioxide emissions generated, when compared to the conventional packaging materials. Further, these packaging materials are manufactured under strict regulatory guidelines which ensure the safety and integrity of the packaging product. Owing to these advantages, green packaging materials have garnered considerable attention from the players involved in the healthcare industry. Additionally, given the increased consumer awareness of the negative impacts on environment in terms of increase in greenhouse gas emissions and growing accumulation of waste in landfills due to conventional packaging materials, paradigm shift in consumer preference has been observed towards the use of eco friendly packaging materials. Considering such vast potential, sustainable packaging companies are actively involved in research and development to develop innovative raw materials to overcome the negative impact posed on the environment due to conventional packaging materials.

Sustainable Packaging Market Trends

Based on the type of eco friendly packaging offered, the market is segmented into Biodegradable and Recyclable / Reusable

• The recyclable / reusable eco-friendly packaging segment captures majority (more than 85%) of the sustainable packaging market share, in 2024.
• The biodegradable eco-friendly packaging segment is anticipated to be the fastest growing segment in this industry, with an annualized rate of around 7%, during the forecast period.

Based on the type of packaging, the market is segmented into Primary, Secondary and Tertiary Packaging

• The primary sustainable packaging segment captures majority (more than 70%) of the sustainable packaging market, in 2024.
• Attributing to the fact that primary packaging containers are in direct contact with the product and hence, play an essential role to ensure the quality and hygiene of the product, primary sustainable packaging market is anticipated to be the fastest growing segment in this industry, with the annualized rate of around 7%, during the forecast period.

Based on the type of primary packaging container, the market is segmented into Ampoules, Bottles, Cartridges, Syringes and Vials

• The ampoules segment amongst the primary sustainable packaging market, captures majority (around 45%) of the market share, in 2024.
• The vials segment is anticipated to be the fastest growing segment in this industry, with an annualized rate of around 10%, during the forecast period.

Based on the type of secondary packaging container, the market is segmented into Boxes / Cartons and Pouches

• The boxes / cartons segment led the secondary sustainable packaging market, capturing the majority (more than 95%) of the market share, in 2024.
• Owing to the fact that boxes / cartons are suitable to transport a wide range for products with increased strength and durability, this segment is anticipated be the fastest growing segment in this industry, with an annualized rate of around 6%, during the forecast period.

Based on the type of tertiary packaging container, the market is segmented into Boxes, Cartons and Shippers

• Shippers amongst the tertiary sustainable packaging market, are capturing the majority (more than 95%) of the market share, in 2024.
• The boxes segment is anticipated to be the fastest growing segment in this industry, with an annualized rate of more than 5%, during the forecast period.

Based on the end-users, the market is segmented into Pharmaceutical and Biotechnology Companies, Research Institutes and Other End-users

• Pharmaceutical and biotechnology companies are major end-users of the sustainable packaging products, capturing the majority (more than 70%) of the market share, in 2024.
• Attributing to the fact that pharmaceutical and biotechnology companies are major contributors towards greenhouse gases, and generate around 50 megatons of carbon emissions annually, this segment is anticipated to be the fastest growing segment in this industry, with an annualized rate of more than 6%, during the forecast period.

Sustainable Packaging Market Regional Outlook

Based on the key geographical regions, the sustainable packaging market can be segmented into six major regions, including North America, Europe, Asia-Pacific, Middle East and North Africa, Latin America and Rest of the World. Asia-Pacific is anticipated to capture the majority share of the sustainable packaging market in 2024 and this trend is likely to remain unchanged during the forecast period. Further, the pharmaceutical industry in Latin America is accounted to be the fastest-growing segment in the industry, with an annualized rate of around 7%, during the forecast period. The growth of the sustainable packaging market in the region is driven by vast economic growth and urbanization in this region leading to the production of huge amount of waste due to packaging materials. 

Key Report Takeaways

• Presently, over 110 players are engaged in offering sustainable packaging products and / or services; around 85% of these players are headquartered in the developed markets
• Over 90% of sustainable packaging providers offer products and / or services related to recyclable packaging; among these, more than 60% of the providers use raw materials of natural origin for their products
• In pursuit of building a competitive edge, stakeholders are actively upgrading their existing capabilities and enhancing their respective sustainable packaging portfolio to comply with the evolving industry benchmarks
• The growing interest in this domain is evident from the rise in partnership activity; in fact, the maximum number of collaborations related to sustainable packaging were inked in 2021 
• Foreseeing lucrative returns, many public and private investors have made investments worth over USD 10 billion since 2019; the funding activity is well distributed across North America and Europe
• Driven by the growing environmental degradation due to conventional packaging materials, the demand for sustainable packaging has steadily risen; by 2035, this demand is anticipated to cross over 110 billion units
• With the rapid increase in the waste generated due to the conventional packaging materials, the opportunity for companies offering sustainable packaging is poised to grow at a CAGR of close to 7%

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Sustainable Packaging Market Key Players

Examples of key companies engaged in sustainable packaging market (which have also been profiled in this market report; the complete list of companies is available in the full report) include Amcor, Berry Global, Bormioli Pharma, Drug Plastics, DS SMITH, EPL, Gerresheimer, Greiner Packaging, Huhtamaki, International Paper, MM Board & Paper, Mondi, PGP GLASS, PPC Flexible Packaging, SGD Pharma, Smurfit Kappa, Stoelzle Glass, Syntegon, Takemoto Packaging and Tekni-Plex

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