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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The food & beverage segment was the largest end-use sector in the sustainable plastic packaging market in 2019.
Food & beverage is a major industry in the sustainable packaging market. The primary function of food & beverage packaging is to reduce food loss and increase the shelf-life of food products. Global players are aiming at using innovative packaging materials developed from degradable and recyclable materials in order to achieve sustainability. Consumers seek convenience food solutions due to lack of time. The expectations of food quality, hygiene, and growing health awareness are driving the sustainable packaging market in the food & beverage sector.

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. The company caters to the aseptic packaging needs of the food, beverage, and pharma industries. A majority of Amcor’s packaging is already technically recyclable or reusable, and the company has been focusing on designing packaging that uses less materials for the past several years.
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. Sonoco was selected into Fortune Magazine’s World’s Most Admired Companies list for 2020. Also, for the third year in a row, Sonoco also was listed first in the packaging/container industry in 2020. Sonoco was also ranked 48th on Barron’s 100 Most Sustainable Companies for 2019. In order to enhance sustainability in its packaging, the company created EnviroSense, which has a portfolio of a range of packaging materials, including cans made from 100% recycled paperboard, mono-material flexible pouches that are recyclable, rigid plastic packaging containing PCR content, and innovative packaging made from agricultural fibers.

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Recent Developments
• In February 2020, Amcor PLC launched the first container for Ritual Multivitamins (US) made from 100% Post-Consumer Recycled content (PCR) resin. PCR is composed of recycled materials, including PET beverage bottles that have been used and subsequently recycled to produce a new product. Using PCR helps support the recycling infrastructure and reduces demand on virgin resins.
• In January 2020, Sealed Air Corporation, launched a new version of their bubble wrap brand packaging that is made with at least 90% recycled content. The recycled content used to make this version of bubble wrap brand packaging is sourced from post-industrial materials that would otherwise end up in landfills.
• In October 2019, Sonoco ThermoSafe, a unit of Sonoco Products Company, announced the creation of Orion R, which is a high-performance temperature-controlled box rental service. It is made of lightweight, rugged EPP (Expanded Polypropylene), which is substantially more reusable than existing rental parcels and enables the pharmaceutical supply chain to cost-effectively and sustainably ship small parcels globally.

Key Questions Addressed by the Report:
• What are the global trends in the sustainable plastic packaging market? Would the market witness an increase or decline in the demand in the coming years?
• What is the estimated demand for different types of packaging in sustainable plastic packaging?
• Where will the strategic developments take the industry in the mid to long-term?
• What are the upcoming industry applications and trends for sustainable plastic packaging?
• Who are the major players in the sustainable plastic packaging market globally?

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