South Korea’s Vigorous Drive Towards Sustainable Packaging Sets Global Trend
In a groundbreaking shift towards eco-sustainability, South Korea emerges as a leader in the global sustainable packaging movement, driven by a surge in e-commerce, heightened popularity of Home Meal Replacement (HMR) products, and an increase in single-person households. The nation, generating half a million tons of waste daily, has directed its focus on sustainable packaging solutions, accounting for 46% of its total plastic waste.
Sustainable Packaging Market Outlook:
The Sustainable Packaging market’s future trajectory has been projected based on region, type, and application, incorporating sales and revenue data. The Sustainable Packaging market research underscores aspects such as market share, primary suppliers, distributors, evolving price trends, and the intricate raw material supply chain. By offering these insights, the market report furnishes companies with profound understanding of the dynamics prevalent within the global Sustainable Packaging industry.
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Sustainable Packaging Market Scope and Research Methodology:
The core focus of the Sustainable Packaging market report centers on illuminating the dynamics encompassing drivers, restraints, challenges, and opportunities. This comprehensive insight into market dynamics is presented both regionally and by segment, rendering the report an indispensable resource for potential investors. Data collection for the report was achieved through the synergy of primary and secondary research methodologies, ensuring the Sustainable Packaging market report’s authenticity and accuracy.
The process of arriving at the total market size involved segmenting the market into various categories, each verified through primary research achieved by conducting extensive interviews with influential individuals within the Sustainable Packaging industry. Employing a bottom-up approach, the report estimated both regional and global Sustainable Packaging market sizes.
In addition, secondary research identified significant Sustainable Packaging industry key players, whose revenues were determined through a combination of primary and secondary research. The secondary research phase encompassed data collection from official databases of diverse organizations, government sources, industry journals, white papers, annual reports, and suppliers within the Sustainable Packaging industry. Meanwhile, primary research involved conducting in-depth interviews with industry experts and opinion leaders.
Sustainable Packaging Market Segmentation:
by Material Type
Paper and Paperboard
Plastics
Biodegradable
Bio-based
Aluminum
Others
In 2023, the paper and paperboard segment had the highest revenue share of 21.2%, determined by Material Type. An encouraging trend that indicates a rising understanding of the need for sustainable packaging solutions is the increasing demand for sustainable paper and paperboard materials for the import and export of packaging products. It is anticipated to increase in the upcoming years as a move towards a more sustainable future. Paper and paperboard are sustainable packing materials that Amazon has promised to use for its shipments. The company has implemented several eco-friendly packaging programmes, such as switching to paper-based cushioning materials in place of plastic ones and employing corrugated boxes with a high percentage of recycled content.
by Packaging Type
Rigid Packaging
Flexible Packaging
Regarding Packaging Type, the segment with rigid packaging held a notable 18.2% market share in 2023 and is anticipated to continue to do so during the projected period. A lot of businesses are making rigid packaging goods with sustainable materials.
Coca-Cola has put in place a number of sustainable packaging measures, such as the use of plant-based polymers and recycled content, and has pledged to making all of its packaging 100% recyclable by 2025. For its Dasani water brand, the business has unveiled a sustainable plastic container composed entirely of recycled PET plastic. For rigid packaging applications, this is anticipated to accelerate the growth of the Sustainable Packaging market.
by End User
Pharmaceutical and Healthcare
Cosmetics and Personal Care
Food and Beverage
Other End Users
The food and beverage segment held a significant market share of approximately 56.3% in 2023, and it is anticipated to continue growing over the forecast period, according to the End User. Many businesses are employing recycled plastics in their packaging, either by developing new packaging solutions that are composed completely of recycled materials or by adding recycled content to their current packaging. The food and beverage industry is also seeing an increase in the use of reusable packaging. Reusable packaging options, such refilling receptacles or packaging that can be sent back to the manufacturer for further use, are being investigated by certain businesses.
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Sustainable Packaging Market Key Players:
1. Sonoco Products Company
2. Amcor pie
3. Gerresheimer AG
4. Smurfit Kappa
5. Ball Corporation
6. BASF SE
7. Ardagh Group S.A.
8. Crown Holding,Inc.
9. WestRock Company
10. DS Smith
11. Mondi
12. International Paper
13. Berry Global
14. Printpack
15. Sealed Air
16. Stora Enso Oyj
17. Georgia-Pacific
18. Huhtamaki
19. Genpak,LLC
20. Tetra Pak InternationalS.A.
21. Billerud
22. Albea S.A.
23. HCP Packaging
Sustainable Packaging Market Regional Analysis:
The Sustainable Packaging market report is segmented into key regions, such as North America, Asia Pacific, Europe, Middle East and Africa, and South America. Furthermore, the report includes market size, CAGR, import and export, and country-level analysis, integrating the demand and supply forces of the Sustainable Packaging market in these countries.
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Key Questions answered in the Sustainable Packaging Market Report are:
- What is the expected CAGR of the Sustainable Packaging market during the forecast?
- What is the expected Sustainable Packaging market size during the forecast period?
- Which regional Sustainable Packaging market is expected to hold the largest share during the forecast period?
- What are the market segments?
- Which production technology is utilized for Sustainable Packaging?
- What trends are driving the market growth?
- Who are the global key players in the Sustainable Packaging market?
- What is the global market status of the Sustainable Packaging market?
- What was volume, manufacture value, price, and revenue of Sustainable Packaging market?
Key Offerings:
- Market Overview
- Market Share
- Market Size
- Forecast by Revenue
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by segments, sub-segments and region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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