Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 265.9 million | USD 358.3 Billion | 5.10% | 2022 |
FrequentlyAsked Questions
The growing consumer awareness regarding sustainable packaging, the strict bans regarding the usage of single-use plastics, rising environmental concerns caused by the packaging waste that ends up in landfills are some of the major factors that will drive the growth of the market in the forecast period.
According to the Market Research report, the Sustainable Packaging Market was worth about 265.9 (USD billion) in 2021 and is predicted to grow to around 358.3 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 5.1 percent.
The Asia Pacific dominated the market in the forecast period. This domination is attributed to the growing government regulations and initiatives that are encouraging manufacturers to opt for green packaging. The presence of countries in the region like China, the biggest manufacturing hub in the world, is changing the world’s packaging habits and materials to make them more environmentally friendly. Due to the large volume of the products shipped out of China, this move will have a great impact on the market growth in the region.
Some of the main competitors dominating the Sustainable Packaging Market include - Amcor; Be Green Packaging; DS Smith; DuPont; Evergreen Packaging; Mondi; Nampak; Ball Corporation; Sealed Air; Tetra Laval
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