ReportPackaging Sustainability

The global sustainable packaging market is expected to expand at a CAGR of 8.5% during the forecast period of 2023 to 2031. The market expansion is attributable to the government’s stringent laws on sustainable development and the packaging industry’s rising need for recycled packaging materials. The production and use of packaging that enhances sustainability are referred to as sustainable packaging. It relies heavily on life cycle analyses and inventories to guide packaging selections and reduce its environmental impact.

Benefits offered by sustainable packaging products such as strength, transparency, insulation, and water resistance, the growing use of sustainable packaging in industries such as healthcare, pharmaceutical, automobile, nutraceuticals, and fashion, the increase in global plastic pollution, the use of a wide range of sustainable packaging products by modern agricultural practices to increase productivity, and the ability of sustainable packaging to preserve a product’s integrity are all discussed.

However, the high cost of raw materials hinders the expansion of the global market. In contrast, increased demand from end-use sectors, less reliance on petroleum resources, and advances in research and development (R&D) will create new growth prospects for the global industry in the future years.

Stringent Environmental Regulations to Boost the Market Growth

Beijing regulations and the possibility of a ban on conventional plastics, such as single-use non-bi-