PUBLISHER: The Business Research Company | PRODUCT CODE: 1429908
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429908
Plastic alternative packaging refers to packaging solutions made from a plastic-such as substance that dissolves effectively, leaving no hazardous residues. These alternatives are derived from biodegradable materials and recyclable products, offering eco-friendly options to traditional materials. Plastic alternative packaging products include innovative solutions such as biodegradable packaging, products made from recycled materials, and plant-based packaging.
The plastic alternative packaging market, as covered in this report, is segmented by type into starch-based plastic, cellulose-based plastics, polylactic acid (PLA), polyhydroxyalkanoates (PHA), and others. The segmentation by process includes recyclable, reusable, and biodegradable options, while the segmentation by application includes food and beverage, personal care, healthcare, and others.
The plastic alternative packaging market research report is one of a series of new reports from The Business Research Company that provides plastic alternative packaging market statistics, including plastic alternative packaging industry global market size, regional shares, competitors with a plastic alternative packaging market share, detailed plastic alternative packaging market segments, market trends and opportunities, and any further data you may need to thrive in the plastic alternative packaging industry. This plastic alternative packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The plastic alternative packaging market size has grown rapidly in recent years. It will grow from $5.33 billion in 2023 to $6.25 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. The expansion observed in the historical period can be attributed to the increased demand for industrial packaging products, growing environmental concerns over plastics, and a rising inclination towards alternatives to plastics.
The plastic alternative packaging market size is expected to see rapid growth in the next few years. It will grow to $11.84 billion in 2028 at a compound annual growth rate (CAGR) of 17.3%. The anticipated growth in the forecast period can be attributed to technological advances, increasing awareness, government initiatives, and a rise in the availability of plastic alternative packaging. Key trends expected in the forecast period include a focus on establishing collaborations with research institutions and established companies, investment in mono-material packaging solutions, leveraging industrial wastes to upcycle and create innovative plastic alternative packaging materials, the use of artificial intelligence (AI), mergers and acquisitions, and an emphasis on the use of environmentally friendly bioplastics.
The substantial increase in environmental concerns linked to plastic usage serves as a significant catalyst for the plastic alternative packaging market's growth. Plastic products are known for containing harmful pollutants, leading to adverse effects on humans, animals, and the overall environment. The growing awareness of the detrimental impacts of plastic has prompted consumers to seek eco-friendly packaging alternatives. For example, as of October 2021, the UK's Office for National Statistics (ONS) Opinions and Lifestyle Survey revealed that 75% of adults in the United Kingdom expressed concern about climate change. This heightened environmental awareness has drawn global businesses toward adopting alternatives to plastic packaging, driving the expansion of the plastic alternative packaging market.
The market is expected to experience a boost due to the increasing awareness of the significance of bioplastics. There is a global surge in awareness regarding the pollution caused by plastic manufacturing and disposal, leading to detrimental effects on the environment, particularly in oceans. Studies, such as the one conducted by Pew Charitable Trusts and SYSTEMIQ, Ltd., project a nearly tripled flow of plastic trash into oceans by 2040 if left unaddressed. This surge in pollution has intensified the focus on sustainability, compelling consumers to shift towards plastic alternative packaging. For instance, an Ipsos Global Survey in 2022 highlighted that 83% of urban Indians are in favor of a complete ban on single-use plastics. The heightened awareness is expected to drive the adoption of plastic alternative packaging solutions.
Companies in the plastic alternative packaging market are strategically emphasizing mono-material packaging solutions to offer sustainable polyolefins-based packaging with enhanced circularity. These solutions, based on a single polymer, facilitate easier recyclability without the need for disassembly before recycling. The adoption of new polypropylene (PP) solutions as monomaterial substitutes enhances moisture barrier, thermal resistance, and transparency, making them suitable for mono-material packaging. In a notable example, the Japanese printing company Dai Nippon Printing Co., Ltd., developed mono-material packaging with oxygen and water vapor barrier properties, ensuring high-level recyclability and suitability for prolonged shelf life.
Collaborations and partnerships between companies, government entities, and research bodies are increasingly prevalent for the development of innovative and efficient plastic alternative packaging solutions. In a strategic move in December 2021, the ALPLA Group, a global packaging solutions and recycling specialist, partnered with Glatfelter Corporation and Blue Ocean Closures (BOC) to develop natural fiber-based closures and molded packaging products. The collaboration aimed to utilize dry forming technology for innovative packaging solutions with sustainability at the core.
In February 2022, Hewlett-Packard Company (HP) acquired Choose Packaging for $10 billion. This acquisition underscores HP's commitment to enhancing recyclable packaging solutions and promoting alternatives to plastic bottles, aligning with broader sustainability objectives. Choose Packaging, a UK-based packaging company, specializes in developing innovative and sustainable packaging alternatives to plastic, such as paper and paperboard. The acquisition is expected to drive advancements in sustainable packaging within HP, contributing to environmental conservation efforts.
Major companies operating in the plastic alternative packaging market report are BASF, Amcor PLC, Tetra Pak International SA, Sealed Air, Evergreen Packaging, Rengo Co. Ltd., International Paper Company, Mondi Group PLC, Futamura Group, SECOS Group, Huhtamaki, Shanghai PRECISE Packaging Co, SIG Combibloc, Greatview Aseptic Packaging, BioPak, Himalayan Packaging Industries Pvt. Ltd., Decon India Plastics Private Limited, West Pharma, Qingdao Likang Packing., Smurfit Kappa, DS smith, Element Packaging Ltd., Delyn Packaging Ltd., CP Packaging Ltd., Surepak innovative packaging company, Epac flexible packaging, Enviroplast Inc., TC Transcontinental, PolyFerm Canada, TerraVerdae Bioworks Inc., Kruger Inc., Klabin SA, HP Inc., Choose Packaging, Plastic Suppliers Inc., Saudi Investment Recycling Company (SIRC), Bemis Company Inc., Winpak LLC, Rotopak LLC, Gulf East Paper and Plastic Industries LLC, Arabian Packaging LLC, Amber Packaging Industries LLC, Diamond Packaging Industries LLC, Astrapak Ltd (RPC Group), Nampak Ltd., Mpact Pty Ltd., Foster Packaging, Consol Glass (Pty) Ltd., East African Packaging Industries Ltd (EAPI), Constantia Afripack (Pty) Ltd., Bonpak (Pty) Ltd., Frigoglass South Africa (Pty) Ltd.
North America was the largest region in the plastic alternative packaging market in 2023. The regions covered in the plastic alternative packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the plastic alternative packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The plastic alternative packaging market consists of sales of corn-starch-based, mushroom-based, corrugated bubble wrap, seaweed material, and organic sources. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Plastic Alternative Packaging Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on plastic alternative packaging market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for plastic alternative packaging? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The plastic alternative packaging market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.