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According to the study, the demand for eco-friendly and sustainable packaging materials by consumers is on the rise. thus, vendors are mainly focusing on developing materials that can be recycled and have the conventional capabilities of resistance to friction, moisture, and heat.
Segmental Analysis
The types of packaging available in the global Sustainable Packaging Market Share are tubes, bags and pouches, corrugated box, and others.
In addition, reusable packaging was the second-largest type of sustainable packaging. It is also poised to have remarkable growth in the future, owing to the government regulations along with rapidly growing demand for bio-plastic packaging. Furthermore, degradable packaging is also projected to have moderate growth.
The materials used ni the global Sustainable Packaging Market Share are paper and paperboard, glass, metal, and plastic.
Regional Analysis
The geographical analysis of the global market has been conducted in four major regions, namely the Asia Pacific, North America, Europe, and the rest of the world (including Latin America and the Middle East and Africa.)
The Asia Pacific market is poised to be the fastest-growing market over the forecast period, owing to the presence of the growing consumer base and the growing focus on the adoption of eco-friendly solutions, by the government. additionally, growing demand for reusable and recyclable materials in developing economies, such as China, Japan, and India, are expected to fuel industry growth over the review period. Moreover, stringent governmental policies for the safety of the environment coupled with the availability of inducements and support from the government is one of the major driving factors behind the growth of the Sustainable Packaging Market Share over the review period. Furthermore, innovative sustainable packaging products are also believed to flourish the growth of the Sustainable Packaging Market Share.
Competitive Analysis
The major market players identified by MRFR in the global market are Amcor Limited (Australia), Silgan Holdings Inc.( U.S.), Sonoco Products Company (U.S.), The Dow Chemical Company(U.S.), Mondi plc.( Austria)
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