by Sustainable packaging involves using packaging materials and manufacturing techniques that produce less waste and make efficient use of resources. It involves selecting packaging materials like paperboard, bioplastics and aluminum from renewable sources to reduce environmental impact. These eco-friendly materials decompose faster than conventional plastics, reducing landfill waste. Sustainable packaging plays a vital role in preserving food quality while limiting pollution. It is widely used for food products, beverages, healthcare and industrial goods packaging. Manufacturers are implementing sustainable packaging solutions to promote brands’ green credentials and meet consumer demand for eco-friendly alternatives.
The global Sustainable Packaging Market is estimated to be valued at US$ 262.07 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving growth in the sustainable packaging market is rising consumer demand for eco-friendly packaging solutions. Customers are increasingly mindful about environmental impact of their purchasing decisions and prefer brands that use sustainable materials and limit plastic waste. Manufacturers are catering to this demand by designing packaging with recycled content, compostable materials or minimal plastic layers that can be reused or recycled easily. Another trend gaining popularity is bio-based and biodegradable packaging made from agricultural byproducts like bagasse, corn starch and sugarcane pulp. Their decomposition doesn’t release toxic elements into the environment. Advancements in material science are facilitating production of sustainable alternatives to traditional plastics at competitive price points, boosting their adoption across industries.
Porter’s Analysis
Threat of new entrants: Low. Substantial capital investment and established branding make market entry difficult.
Bargaining power of buyers: High. Large buyers can negotiate for lower prices and better quality due to high demand.
Bargaining power of suppliers: Moderate. Players have alternatives but supplier integration allows control over costs and quality.
Threat of new substitutes: Moderate. Alternatives exist but sustainable packaging offers advantages in cost and environmental impact.
Competitive rivalry: High. Intense competition on pricing and innovation from global players to gain market share.
Key Takeaways
The Global Sustainable Packaging Market Size is expected to witness high growth.
Regional analysis: Europe dominates the market currently due to stringent regulations and awareness regarding environment-friendly packaging.
Key players operating in the sustainable packaging market are KaVo Dental, Nakanishi inc., Foshan Gladent medical instrument Co.,Ltd, TEALTH FOSHAN MEDICAL EQUIPMENT CO., LTD, Chirana, coxo Medical Instrument Co., Ltd., Dabi Atlante, Carlo De Giorgi, Henry Schein, Inc., DENTALEZ, Inc., Aseptico Inc., Sinol Dental Limited., Guilin Woodpecker Medical Instrument Co.,Ltd., MDK Dental, Beyes, NINGBO HPDOVE DENTAL INSTRUMENTS CO., LTD., Ivoclar Vivadent Pty Ltd. The key players are focusing on new product launches and expansion strategies to gain leading position in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
