Major players in the plastic alternative packaging market are Amcor Limited, Tetra Pak, Sealed Air Corporation, Plastic Suppliers Inc., Kruger Inc., Mondi, International Paper Company, Smurfit Kappa Group PLC, DS Smith PLC, and Klabin SA.
The global plastic alternative packaging market is expected to grow from $61.23 billion in 2020 to $71.08 billion in 2021 at a compound annual growth rate (CAGR) of 16.10%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $95.04 billion in 2025 at a CAGR of 7.63%.
The plastic alternative packaging market consists of sales of plastic alternative packaging by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing plastic alternative packaging products.Plastic alternative packaging products are innovative eco-friendly alternatives to traditional materials and include biodegradable packaging, packaging products made from recycled materials, and plant-based packaging.
Only goods and services traded between entities or sold to end consumers are included.
The plastic alternative packaging market covered in this report is segmented by type into starch-based plastic, cellulose-based plastics, polylactic acid (PLA), polyhydroxyalkanoates (PHA), others; by process into recyclable, reusable, biodegradable; by application into food and beverage, personal care, health care, others.
North America was the largest region in the plastic alternative packaging market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The high cost of plastic alternative packaging products is projected to limit the growth of the plastic alternative packaging market over the forecast period.Biodegradable plastic packaging materials are expensive as compared to non-biodegradable materials.
For instance, the cost of CycleWood’s biodegradable plastic bags is around 1.5 cents per unit compared with 1.2 cents for traditional plastic bags. Additionally, biodegradable materials are 2 to 10 times more costly to produce than relative non-biodegradable materials. Thus, high cost is likely to restrict the growth of the plastic alternative packaging market.
In June 2019, Amcor plc., an Australia-based company engaged in producing packaging for food, beverage, pharmaceutical, medical, home- and personal care, and other products acquired Bemis company Inc. for $6.8 billion. The acquisition of Bemis Company, Inc. brings new scale, skills, and footprint that will grow Amcor’s industry-leading value plan to create a global consumer packaging giant. Bemis Company, Inc. is a US-based manufacturer of flexible packaging products and pressure-sensitive materials.
Growing environmental concerns associated with plastic usage is a major driver for the growth of the plastic alternative packaging market.Plastic products consist of deadly pollutants and cause harmful effects on humans, animals, and the environment.
Customers are interested in eco-friendly packaging options to find the replacement of plastic packaging.According to the World Economic Forum’s report published in October 2019, approximately 13 million tons of plastic waste leaks into our oceans every year, causing unimaginable damage to biodiversity, marine life, and human health.
Most plastics are non-biodegradable attributing to the material versatility. Rising inclination towards alternatives to plastics has attracted businesses worldwide, which contributes to the growth of the plastic alternative packaging market.
Advances in technology is a major trend in the plastic alternative packaging market.Major companies dealing in the market are continuously focusing on introducing innovative and sustainable packaging solutions for various industries to maintain their position in the competitive business environment and to meet end-user requirements.
For instance, in January 2020, Sealed Air Corporation, has launched a new version of bubble wrap brand packaging material that is made with at least 90% recycled content. The recycled content used to make bubble wrap brand packaging is sourced from post-industrial materials that would otherwise end up in landfills.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Our reports have been used by over 10K customers, including:
42 pages •
By Euromonitor International
• Nov 2020
Home seclusion trends during the 2020 pandemic, along with reduced purchasing power have favoured sales of larger size formats such as family value packs in a number of categories, with families preparing and consuming all their meals at home for several months. The lower-cost solutions offered by such large pack sizes have proved popular...
The global edible films and coating market was valued at USD 2,659.59 million in 2020, and it is projected to witness a CAGR of 7.64% during the forecast period, 2021-2026. The COVID-19 pandemic has resulted in the generation of opportunities for many private players to emerge in the markets, in order to cater to the inflated demand...
The green packaging market registered a value of USD 266.7 billion in 2020 and is expected to be 404.96 billion in 2026 to register a CAGR of 7.4% over the forecast period from 2021 to 2026. Concerns about environmental impacts caused by these plastic bottles continue to increase across the food and beverage industry, leading to several companies...
The Saudi Arabian plastic packaging market was valued at USD 8.59 billion in 2020, and it is projected to reach USD 11.93 billion by 2026, registering a CAGR of 5.6% during the period of 2021-2026. Most of the manufacturers are introducing additional functionalities of EVOH films for packaging. Functionalities, such as cost-effectiveness and...
The global plastic caps and closure market reached US$ 41.6 Billion in 2020. Caps and closures are the final components of the packaging process, they also represent one of the most important parts of the entire process on which the product integrity depends upon. Plastic caps and closures are crucial components in product packaging and play...
The market for Plastics Injection Molding is expected to grow at a CAGR of over 4% during the forecast period. Major factors driving the market studied are accelerating usage in consumer goods & electronics and growing demand in packaging industry. On the flipside, stringent environmental regulations on use of plastics and unfavourable conditions...
The North American flexible packaging market was valued at USD 40.14 billion in 2020 and is expected to reach USD 48.39 billion by 2026 and grow at a CAGR of 3.16% over the forecast period (2021-2026). Technological innovation, sustainability trepidations, and attractive economics are among the reasons for the remarkable growth of flexible...
The Biodegradable Packaging Market was valued at USD 89.57 billion in 2019 and is expected to reach a value of USD 121.38 billion by 2025 at a CAGR of 5.3% over the forecast period (2020-2025). The Biodegradable Packaging solutions are finding increasing application in packaging owing to its low environmental impact, growing focus on recyclability...
212 pages •
By Prescient & Strategic Intelligence Private Limited
• Feb 2021
Aerosol Market Research Report: By Propellant Type (Liquefied Gas, Compressed Gas), Product Type (Dimethyl Ether, Hydrocarbons, Nitrous Oxide & Carbon Dioxide), Packaging Material (Aluminum, Steel, Plastic), End Use (Personal Care, Household, Food Products, Paints & Coatings, Medical, Automotive & Industrial) â€“ Global Industry Analysis...
The acrylic processing aid market size is estimated to be USD 606 million in 2020 and is projected to reach USD 842 million by 2025, at a CAGR of 6.8% between 2020 and 2025. Factors such as replacement of conventional material with PVC and rising demand for acrylic processing aid from Asia-Pacific will drive the acrylic processing aid market....
Gross Domestic Product
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.