The plantable packaging market is expected to grow significantly over the next decade, with projections showing it will be valued at USD 120.0 Million in 2023 and rising to USD 340.0 Million by 2033, with a significant compound annual growth rate (CAGR) of 11.0%.
One of the most significant advantages of plantable packaging is its eco-friendliness. Plantable packaging, created from natural and biodegradable materials, is an excellent choice for environmentally conscious consumers who are looking for eco-friendly solutions.
Governments around the world are also putting measures in place to decrease plastic waste and encourage sustainable packaging. This allows plantable packaging producers to capitalize on the growing demand for sustainable alternatives.
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Plantable packaging also provides a unique value proposition to clients because it not only functions as a packaging material but also doubles as a way to produce plants. This unique technique can help businesses stand out in a congested market and attract customers who want something different.
However, there are a few factors that stakeholders should be aware of before entering the market. The plantable packaging market size remains modest in comparison to other packaging materials, which may limit the potential for high returns on investment in the short term.
Investment in the plantable packaging industry can provide significant opportunities for growth and sustainability. The ability to customize and innovate in plantable packaging makes it an intriguing route for growth and development in the packaging sector.
Key Takeaways: Plantable Packaging Market
- In 2022, boxes and cartons accounted for 33.9% of the packaging market share, with plantable boxes and cartons becoming increasingly popular in the food and beverage, cosmetics, and fashion industries. These boxes can be planted to grow herbs, spices, flowers, or other beneficial plants, making them eco-friendly and sustainable packaging options.
- The food and beverage industry registered a market share of 52.1% in 2022, and plantable packaging is an effective marketing tool for companies that want to advertise their commitment to sustainability and attract environmentally conscious consumers.
- North America has a significant market share of 26.3% and is home to the Sustainable Packaging Coalition (SPC), which provides companies with tools and resources to implement sustainable packaging solutions like plantable packaging. Major retailers like Walmart and Target are also exploring eco-friendly packaging alternatives.
- Europe captured a strong market share of 32.0% in the plantable packaging industry in 2022. The EU Circular Economy Action Plan and legislation in various European countries limit plastic waste and promote sustainable packaging options. Some European companies specialize in plantable packaging solutions, like GreenBottle in the UK.
- India is showing promising growth in the plantable packaging market with a projected growth trajectory of 7.9%. The government’s Green Good Deeds campaign and initiatives by businesses like Sow and Grow in Mumbai are encouraging the use of eco-friendly packaging materials like plantable packaging.
Competitive Landscape:
The market is fragmented, with several big companies as well as some global and regional small-and-medium-sized firms operating globally. Many businesses compete based on the quality of their products and the production technology they use.
Major firms are engaging in mergers and acquisitions, infrastructure development, expanding manufacturing facilities, investing in R&D facilities, and looking for possibilities to integrate vertically across the value chain.
- Amcor will produce an eco-friendly chocolate pack in South America in 2021. The recyclable plastic packaging for powdered chocolate was created and manufactured by the firm. The package cut its carbon footprint by 53% compared to the prior packaging.
- Amcor created a groundbreaking packaging solution for healthcare packaging in April 2021. The latest addition to the recyclable healthcare packaging product portfolio is the new AmSky blister system.
Key Players:
Amcor Limited, 3M Company, Bemis Company, Inc., Chevron Phillips Chemical Company LLC, and Honeywell International Inc.
Key Segments Covered:
By Material:
- Cardboard
- Bioplastic
- Mushroom
- Agave
By Packaging Formats:
- Bags & Pouches
- Trays
- Boxes & Cartons
- Wraps & Sheets
- Others
By End-User:
- Food and Beverages
- Pharmaceutical
- Personal Care and Cosmetics
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- Middle East & Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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