|【英語タイトル】Sustainable Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)|
The sustainable packaging market is expected to grow at a CAGR of 9.25% over the forecast period (2021-2026). The low recycling rates in the US and Europe are set to drive the demand for sustainable packaging in the future. The US recycled 35% of their waste in 2019, while Europe recycled 42% in 2017.
- Rising environmental concerns and growing public awareness about eco-friendly products are the dynamic factors behind the rapid growth of the sustainable packaging market over the forecast period.
- In addition, stringent regulations implemented by most of the nation over the use of plastic bags are further expected to drive the market. In 2019, EU and The US adopted ambitious measures to reduce single-use plastics. The two identical bills Introduced in the US, state assembly and the senate, commit to a 75% reduction in plastic by 2030.
- Moreover, innovative sustainable packaging products are also expected to play a crucial role in the growth of the market. One such innovation is Ecovative Design, which uses the root structure of mushrooms to create packaging. As of 2019, companies like Dell and Ikea have shited to this design.
- Similarly, in 2019, The Guardian’s print edition stopped using plastic packaging and became the first national newspaper to switch to biodegradable wrapping.
- However, the high cost of raw materials used for making sustainable packaging such as bio-based monomers, liquid biofuels is anticipated to hinder the growth of the sustainable packaging market globally. Also, the capacity constraint will restrict the growth of this market as packaging companies are not able to fulfill the demand with their existing production capacities.
Key Market Trends
Shift in Consumer Preferences Towards Recyclable and Eco-Friendly Materials
- According to a study by the Ellen MacArthur Foundation, around 8 million ton of plastic waste ends up in oceans every year, globally. The report also predicts plastic debris will outweigh fish by 2050, unless drastic actions are taken.
- Much of the floating waste collects in several large ocean vortices far from land. It is estimated that 95% of the plastic packaging material is lost to the economy after a short single-use cycle, at a cost of USD 80-120 billion. A sizeable share of the plastic that ends up in oceans takes an even higher toll, in terms of cost and health.
- This is leading to consumers and governments, in many countries, taking action toward recycling environmental wastes. Recently, countries like India (some of the states) have banned the usage of plastic packaging. Similarly, every major supermarket in Britain pledged to eradicate unnecessary single-use plastics by 2025, under the UK Plastics Pact.
- This has resulted in an increased focus on sustainable packaging thereby driving the market growth.
Asia-Pacific Expected To Have Significant Growth
- Asia-Pacific is expected to have significant growth over the forecasted period. The increasing number of manufacturing plants all over the region, combined with the growing consumerism and transit packaging sector in the Asia Pacific, is contributing to the growth of the sustainable packaging market.
- The growing regulations in the Asia-Pacific region are expected to drive the market. In October 2018, the Philippines passed a provincial ordinance that regulates the use of plastic bags for secondary packaging and prohibits the free distribution of plastic bags as primary packaging.
- Moreover, Countries, like China and Japan, are not well equipped to handle and recycle their waste, this has resulted in China having the largest nonrecycled plastic waste in the world. China, in particular, is expected to launch newer initiatives towards adopting more sustainable packaging in the future, resulting in increased demand for sustainable packaging.
The sustainable packaging market is highly fragmented. Some of the key players are Amcor Limited, TetraPak International S.A., Mondi plc, WestRock Compan, BASF SE, Sonoco Products Company, Smurfit Kappa Group PLC, Sealed Air Corporation, and Huhtamaki OYJ.
- April 2019 – Amcor launched, its AmLite Ultra Recyclable product line, it is their first packaging product made from the company’s revolutionary and sustainable high-barrier polyolefin film. The new high-barrier laminate can package a range of food, home, and personal care, and pharmaceutical products, and be recycled in existing polyolefin recycling streams. The company has also claimed that their new high-barrier flexible packaging can reduce the carbon footprint by up to 64%.
- June 2018- Sealed Air Corporation and Kuraray America, Inc. entered into an agreement to supply Plantic bio-based resins for food packaging. The company has claimed that the plantic materials will set a new standard for bio-based barrier packaging performance, provide unmatched sustainability metrics, and can be recycled through traditional streams.
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Government Initiatives Towards Sustainable Packaging
4.3.2 Downsizing of Packaging
4.3.3 Shift in Consumer Preferences Towards Recyclable and Eco-Friendly Materials
4.4 Market Restraints
4.4.1 Capacity Constraint of Manufacturing Plats
4.4.2 High Cost of Raw Materials
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness – Porter’s Five Force Analysis
4.6.1 Bargaining Power of Buyers/Consumers
4.6.2 Bargaining Power of Suppliers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Process
5.1.1 Reusable Packaging
5.1.2 Degradable Packaging
5.1.3 Recycled Packaging
5.2 By Material Type
5.3 By End User
5.3.1 Pharmaceutical and Healthcare
5.3.2 Cosmetics and Personal Care
5.3.3 Food and Beverage
5.4.1 North America
5.4.4 Latin America
5.4.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Amcor Limited
6.1.2 Westrock Company
6.1.3 TetraPak International S.A.
6.1.4 Sonoco Products Company
6.1.5 Smurfit Kappa Group PLC
6.1.6 Sealed Air Corporation
6.1.7 Mondi PLC
6.1.8 Huhtamaki OYJ
6.1.9 BASF SE
6.1.10 Ardagh Group S.A
6.1.11 Ball Corporation
6.1.12 Crown Holdings, Inc.
6.1.13 DS Smith Plc
6.1.14 Genpak LLC
6.1.15 International Paper Company
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS