The Expanding Plastic Alternative Packaging Market is Set For High Growth Due To Increasing Environmental Concerns

Plastic alternative packaging materials like paper, glass, metal and bio-based plastics are increasingly being used for food and beverage packaging. These materials provide excellent barrier properties to protect contents while being renewable and recyclable. The need for sustainable packaging that reduces plastic waste is driving many brands to switch to alternative materials. The Global Plastic Alternative Packaging Market is estimated to be valued at US$ 6.11 Billion in 2024 and is expected to exhibit a CAGR of 16% over the forecast period 2024-2031.

Key Takeaways

Key players in the plastic alternative packaging market are Amcor Plc, Mondi, DS Smith, Sealed Air, and Tetra Pak International SA. These companies offer a variety of plastic-free packaging solutions made from paper, glass, aluminum, and bio-based plastics.

Some major growth opportunities in the market include developing innovative barrier coatings for paper packaging, expanding production capacity of aluminum and glass packaging formats, and investments in bio-based and compostable plastic packaging development.

Regions like North America, Europe and Asia Pacific are witnessing high plastic recycling rates driven by stringent regulations against single-use plastic waste. Many brands in these regions are setting targets to use 100% reusable, recyclable, or compostable packaging by 2025 which will drive global expansion of alternative packaging companies.

Market Drivers
Restrictions on single-use plastic by governments worldwide due to mounting plastic waste is a key driver for plastic alternative packaging growth. Over 180 countries have implemented regulations against SUPs which is shifting brand and consumer preferences toward sustainable options.

Increasing consumer demand for eco-friendly packaging is also encouraging brands to switch to alternative materials. Youth especially are willing to pay more for sustainably packaged products and over 80% consider a company's environmental impact before purchase.

Market Restraints
Higher costs of paper, glass, metal and bio-based plastic packaging compared to traditional plastic is a major challenge. Production yields for alternative materials also need to improve to match plastic economies of scale.

Functional barriers of some alternative materials like permeability issues with paper and weight disadvantages of glass also limit their use for certain packaging formats. Innovation is needed to overcome performance gaps versus plastic.

Segment Analysis
The global plastic alternative packaging market is segmented by material, application, and geography. The material segment include paper & paperboard, glass, metal, and others. Paper & paperboard dominates the market owing to its widespread applications across food & beverages, consumer goods, and industrial & commercial sectors. The paper & paperboard segment is further divided into corrugated boxes, cartons, molded pulp, bags & sacks, and others. Corrugated boxes account for major share as it provides insulation, protection from heat, vibration and impacts during transportation & storage of goods.

The application segment of global plastic alternative packaging market includes food & beverages, consumer goods, industrial & commercial, and others. Food & beverages holds the largest share as packaging plays a crucial role in preserving food quality and increasing shelf life by protecting products from outside elements like moisture, air, and dust. Packaging also helps transport and distribute food products safely and hygienically. Regions like Asia Pacific and South America witness rising demand for convenient packaging from ready-to-eat food products.

Global Analysis
The Asia Pacific region dominates the global plastic alternative packaging market owing to rapid industrialization, growing urbanization, rising disposable incomes, expanding middle class population, and changing lifestyle in emerging countries like China, India. The rising demand from food & beverage industry along with e-commerce retail boom further drive the market growth.

North America and Europe hold significant shares on account of stringent government regulations regarding single-use plastic usage and focus toward sustainable packaging options. Moreover, presence of major players and growing consumer awareness for eco-friendly packaging boost the plastic alternative packaging demand across these regions.

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What Are The Key Data Covered In This Plastic Alternative Packaging  Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Plastic Alternative Packaging 's growth between 2024 and 2031.

:- Accurate calculation of the size of the Plastic Alternative Packaging  and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Plastic Alternative Packaging  Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Plastic Alternative Packaging  vendors

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it