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The sustainable packaging market is estimated to reach USD 303.60 Billion by 2020, with a projected CAGR of 7.17% from 2015 to 2020. Factors such as government initiatives towards reuse and recycling of packaging products, downsizing of packaging, and breakthrough in new technologies are driving the market. Application of sustainable packaging in the food & beverage segment dominated the market in 2014. In terms of function, the active packaging segment, which consists of barrier packaging, anti-microbial packaging, and modified atmosphere packaging (MAP), held the largest share in 2014. This domination is mainly due to growing packaged food and beverage industry, particularly in emerging markets such as China, Brazil, and India.<br>The sustainable packaging market is highly fragmented with several packaging manufacturers offering sustainable packaging solutions The market is dominated by key players such as Amcor Limited (Australia), Bemis Company, Inc. (U.S.), Tetra Laval International S.A. (Switzerland), Mondi plc (South Africa), WestRock Company (U.S.), BASF SE (Germany), Sonoco Products Company (U.S.), Smurfit Kappa Group PLC (U.S.), Sealed Air Corporation (U.S.), and Huhtamaki OYJ (Finland). The market in this report is segmented on the basis of material, process, function, layer, application, and region.<br>Paper & paperboard was the most widely used material for sustainable packaging in 2014. It is also projected to grow at the highest CAGR of 8.08% from 2015 to 2020. <br>The key players of the sustainable packaging market implement different strategies such as expansions, agreements, contracts, joint ventures, and partnerships to gain a larger share in the market.<br>Major companies have regional and local distributors to increase their shares in several countries. One of the major developments observed in the sustainable packaging market is mergers and acquisitions. Companies are adopting organic growth strategies such as new product developments to cope with the increasing demand for sustainable packaging solutions in emerging markets. These strategies have aided major companies create a huge customer and partner base in these markets.
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Sustainable Packaging Market worth 303.60 Billion USD by 2020 The report“Sustainable Packaging Market by Material (Paper & Paperboard, Plastic, Metal, Glass), Process (Recycled, Reusable, Degradable), Function (Active, Molded Pulp, Alternate Fiber), Application (Food & Beverage, Healthcare, Others) & Layer - Global Forecast to 2020”,defines and segments the sustainable packaging market with analysis and forecasting of the global revenues for the sustainable packaging industry. It also identifies the driving and restraining factors of the market with analysis of trends, opportunities, and challenges. Sample Request: http://www.marketsandmarkets.com/requestsample.asp?id=177372752 The segmentation considered for this report is based on function, layer, process, material, application, and region. The market has been segmented on the basis of material into paper & paperboard, plastic, metal, glass, and others (foamed plastics and wood) The market for paper & paperboard is projected to witness the highest growth from 2015 to 2020. The market has been further segmented on the basis of application into food & beverage packaging, healthcare packaging, personal care packaging, and others (electronic appliances and home care packaging). Based on application, the food & beverage packaging segment is projected to grow at the highest rate from 2015 to 2020. The layers of sustainable packaging include primary, secondary, and tertiary packaging. Primary packaging segment accounted for the highest market share of the total sustainable packaging market in 2014. The sustainable packaging market was valued at USD 201.60 Billion in 2014, at USD 303.60 Billion by 2020, and is projected to grow at a CAGR of 7.17% from 2015 to 2020. Factors such as stringent laws regarding sustainability, growing packaging industry, and change in consumer preferences towards sustainable and eco-friendly packaging materials drive the sustainable packaging market. However, cost of recycling acts as a restraint to the market. Growth in the economically improving Asia-Pacific region provides an opportunity to the sustainable packaging market to grow even further. Overcoming the problems caused due to fluctuations of raw material prices is a challenge faced by the sustainable packaging market. Request for Customization: http://www.marketsandmarkets.com/requestCustomization.asp?id=177372752 Leading players in the sustainable packaging market include Amcor Limited (Australia), Bemis Company, Inc. (U.S.), Tetra Laval International S.A. (Switzerland), Mondi plc (South Africa), WestRock Company (U.S.), BASF SE (Germany), Sonoco Products Company (U.S.), Smurfit Kappa Group PLC (U.S.), Sealed Air Corporation (U.S.), and Huhtamaki OYJ (Finland). The main strategies adopted by the sustainable packaging companies are mergers and acquisitions. The requirements of the manufacturers to adhere to standards set by governments for sustainable packaging make it essential for the manufacturers to continually invest in research and development activities for innovative solutions. Companies are also adopting inorganic growth strategies such as agreements and joint ventures to cope with the increasing demand of sustainable packaging in the key emerging markets. These strategies have aided companies to create a large customer and partner base in the key markets. To know about the assumptions considered for the study, Download Brochure: http://www.marketsandmarkets.com/pdfdownload.asp?id=177372752
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