Global sustainable plastic packaging market to grow to $122.4b by 2029

By: Trademagazin editor Date: 2024. 10. 14. 09:00

A key driver includes the focus on reusable packaging to meet environmental goals.

The global demand for sustainable plastic packaging is projected to grow from $86.6b in 2024 to $122.4b by 2029, with a compound annual growth rate of 7.2%, according to a report by BCC Research.

Key factors driving this growth include consumer shift towards bioplastics, increased use of bio-based flexible materials, greater demand for post-consumer recycled plastic, and a focus on reusable packaging to meet environmental goals.

“As environmental awareness grows, consumers are increasingly seeking products with a lower ecological footprint,” BCC Research noted.

The sustainable plastic packaging market is split into three main categories, namely recycled packaging, reusable packaging, and bioplastic packaging. Amongst these, the recycled packaging segment is expected to dominate in value by 2029.

Europe is the largest market for sustainable plastic packaging, driven by the presence of manufacturers, technological advancements, and strict regulations on single-use plastics.

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