Global Alternative Plastic Packaging Market Report 2021: Impact and Recovery of COVID-19
The major players in the alternative plastic packaging market are Amcor Limited, Tetra Pak, Sealed Air Corporation, Plastic Suppliers Inc., Kruger Inc., Mondi, International Paper Company, Smurfit Kappa Group PLC, DS Smith PLC and Klabin SA.
New York, March 8, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Plastic Alternative Packaging Global Market Report 2021: COVID-19 Impact And Recovery” – https://www.reportlinker.com/p06033661/?utm_source=GNW
The global plastic alternative packaging market is expected to grow from $ 61.23 billion in 2020 to $ 71.08 billion in 2021 at a compound annual growth rate (CAGR) of 16.10%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that have resulted in operational challenges. The market is expected to reach $ 95.04 billion in 2025 with a CAGR of 7.63%.
The alternative plastic packaging market consists of the sale of alternative plastic packaging by entities (organizations, independent traders and partnerships) that are engaged in the manufacture of alternative plastic packaging products. plastic are innovative eco-friendly alternatives to traditional materials and include biodegradable packaging. , packaging products made from recycled materials and plant-based packaging.
Only goods and services traded between entities or sold to final consumers are included.
The Plastic Alternative Packaging market covered in this report is segmented by Type Starch Plastic, Cellulose Based Plastics, Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), Others; by process in recyclable, reusable, biodegradable; by application in food and beverage, personal care, health care, others.
North America was the largest region of the plastic alternative packaging market in 2020. The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, South America. North, South America, the Middle East and Africa.
The high cost of plastic alternative packaging products is expected to limit the growth of the plastic alternative packaging market during the forecast period. Biodegradable plastic packaging materials are expensive compared to non-biodegradable materials.
For example, CycleWood’s biodegradable plastic bags cost about 1.5 cents per unit, compared to 1.2 cents for traditional plastic bags. In addition, biodegradable materials are 2-10 times more expensive to produce than relative non-biodegradable materials. Thus, high cost is likely to limit the growth of alternative plastic packaging market.
In June 2019, Amcor plc., An Australian company specializing in the production of packaging for food, beverage, pharmaceutical, medical, home and personal care and other products, acquired Bemis Inc. for $ 6.8 billion. The acquisition of Bemis Company, Inc. brings new scale, new skills and a new footprint that will grow Amcor’s industry-leading value plan to create a global consumer packaging giant. Bemis Company, Inc. is an American manufacturer of flexible packaging products and pressure sensitive materials.
Growing environmental concerns associated with the use of plastic are a major driver of the growth of the alternative plastic packaging market.Plastic products are made up of deadly pollutants and have harmful effects on humans, animals and the environment. .
Customers are interested in environmentally friendly packaging options to find replacement for plastic packaging.According to the World Economic Forum report released in October 2019, around 13 million tonnes of plastic waste leaks into the world every year. our oceans, causing unimaginable damage to marine biodiversity. human life and health.
Most plastics are not biodegradable due to the versatility of the materials. The growing trend for alternatives to plastics has attracted companies from all over the world which is helping in the growth of the alternative plastic packaging market.
Technological advancements are a major trend in the alternative plastic packaging market, large companies active in the market continuously focus on introducing innovative and sustainable packaging solutions for various industries to maintain their position in the environment competitive business and meet the needs of end users.
For example, in January 2020, Sealed Air Corporation, released a new version of branded bubble wrap packaging material that contains at least 90% recycled content. The recycled content used to make branded bubble wrap packaging comes from post-industrial materials that would otherwise end up in landfills.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06033661/?utm_source=GNW
ReportLinker is an award winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.
CONTACT: Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001