Sustainable Packaging Market Size (2024 - 2029)

Sustainable Packaging Market Analysis

The Sustainable Packaging Market size is estimated at USD 292.71 billion in 2024, and is expected to reach USD 423.56 billion by 2029, growing at a CAGR of 7.67% during the forecast period (2024-2029).

• Sustainable packaging involves developing and utilizing packaging solutions that enhance sustainability. It relies heavily on life cycle assessments and inventories to guide decisions and minimize environmental impact.
• In recent years, consumer interest in sustainability has surged significantly. The rise of circular economics has further underscored the importance of sustainable packaging. Governments worldwide, responding to public concerns over packaging waste, particularly single-use plastics, are enacting stringent regulations to curb environmental harm and bolster waste management.
• Leading the charge, countries like France, Germany, and the United Kingdom are not only enforcing robust recycling measures within the European Union but are also adopting extended producer responsibilities (EPRs). In Asia, Thailand implemented a nationwide ban on single-use plastic bags in major stores starting January 1, 2020, with the ultimate goal of reducing plastic pollution.
• According to the Ocean Conservancy statistics, 8 million metric tons of plastic enter the oceans annually, adding to the estimated 150 million metric tons already present. This is a critical issue. To put this in perspective, it is akin to dumping a New York City garbage truck's load of plastic into the ocean every minute for a year. The survey identifies 2025 as a pivotal year for eco-friendly packaging, with over 40% of respondents planning to adopt innovative and sustainable packaging techniques. Companies are increasingly pivoting toward a circular economy, utilizing compostable materials and biodegradables and rethinking container designs to reduce waste.
• However, the use of non-recyclable, non-biodegradable plastic packaging is on the rise, exacerbating carbon emissions. In response, major corporations like Amazon, Google, and Tetrapak are setting ambitious targets, aiming for net-zero carbon emissions, a move expected to entail significant capital investments.

Sustainable Packaging Industry Segmentation

Sustainable packaging is the development and use of packaging, resulting in improved sustainability. The study aims to analyze and understand the sustainable packaging market's current growth, opportunities, and challenges. The sustainable packaging market is segmented by process (reusable packaging, degradable packaging, and recycled packaging), material type (glass, plastic, metal, and paper), end user (pharmaceutical and healthcare, cosmetics and personal care, food and beverage, and other end users), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.