The global Sustainable Plastic Packaging Market size is projected to grow from USD 89.0 billion in 2020 to USD 117.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 5.6% during the forecast year. The growth of this market is attributed to the increasing regulations regarding the use of plastics, initiatives by governments and NGOs to promote sustainability in plastic packaging (e.g. - The Ellen McArthur Foundation), and the increasing awareness about the need and benefits of sustainability among the public, especially the youth.

In terms of value and volume, the biodegradable segment is estimated to be the fastest-growing process in the sustainable plastic packaging market between 2020 and 2025.

Biodegradable plastic decomposes naturally in the environment. This is achieved when microorganisms in the environment metabolize and break down the structure of biodegradable plastic. It is less harmful to the environment than traditional plastics. Biodegradable plastics can be composed of bioplastics manufactured from renewable raw materials. Innovation plays a key role in the biodegradable plastic packaging market. Several companies are investing in R&D in search of new packaging materials that are beneficial in use and non-toxic to the environment.

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Key players, such as Amcor PLC, Sonoco Products Company, Sealed Air Corporation, Huhtamaki OYJ, Berry Global Inc., Smurfit Kappa (Ireland), Mondi PLC (South Africa), and Constantia Flexibles (Austria), have adopted this strategy to strengthen their product portfolio, expand their market share, and to meet & exceed their customers’ expectations in the sustainable plastic packaging market.

Amcor PLC (Australia) is a global packaging manufacturer that offers innovative and sustainable packaging solutions. Amcor was formerly known as Australian Paper Manufacturers and changed its name to Amcor Limited in May 1986. After the acquisition of Bemis Inc., the combined company is now called Amcor PLC. The company is well known for its packaging innovation. It offers plastic, packaging film, metal, and glass packaging for several industries, such as beverage, food, medical, household, industrial goods, pharmaceuticals, and tobacco.

Sonoco Products Company (US) is a global provider of innovative and sustainable packaging solutions. The company changed its name to Sonoco Products Company from Southern Novelty Company in 1923. It serves a variety of industries, such as automotive, food & beverage, pharmaceuticals, and sporting goods. The business segments of the company include consumer packaging, display & packaging, paper & industrial converted products, and protective solutions. The company provides plastic, rigid paper, and flexible packaging.

In terms of value and volume, the biodegradable segment is estimated to be the fastest-growing process in the sustainable plastic packaging market between 2020 and 2025.

Biodegradable plastic decomposes naturally in the environment. This is achieved when microorganisms in the environment metabolize and break down the structure of biodegradable plastic. It is less harmful to the environment than traditional plastics. Biodegradable plastics can be composed of bioplastics manufactured from renewable raw materials. Innovation plays a key role in the biodegradable plastic packaging market. Several companies are investing in R&D in search of new packaging materials that are beneficial in use and non-toxic to the environment.

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